American billionaire philanthropist and investor George Soros has passed control of his foundation, Open Society Foundations (OSF), to his son Alex.
A foundation spokesperson confirmed to The Hill the leadership change within the organization. The Wall Street Journal first reported the news on Sunday.
In an interview, Alex, 37, told the Journal that he’s “more political” than his father, adding that he was concerned about former President Trump’s 2024 presidential campaign, suggesting that his organization might have to play a significant financial role in the 2024 election.
“As much as I would love to get money out of politics, as long as the other side is doing it, we will have to do it, too,” the younger Soros added.
In a separate interview, Soros, via a spokesperson, told the Financial Times that the organization plans to double down on defending voting rights and personal freedom at home and supporting the cause of democracy abroad.
A source told the Journal that Soros’ priorities in U.S. politics will remain unchanged with Alex’s appointment as head of the organization.
OSF, founded in 1993, is a foundation that donates money to humanitarian and democratic causes such as climate change and criminal justice reform initiatives. The organization has spent $19.1 billion on philanthropic causes, according to its website.
Alex Soros, who was elected as the foundation’s chairman in December, recently met with Biden administration officials, Senate Majority Leader Chuck Schumer (D-N.Y.), Brazil President Luiz Inácio Lula da Silva, and Canadian Prime Minister Justin Trudeau to push for issues related to his family’s foundation, the Journal reported.
Updated on Jun 12 at 2:14 pm ET.