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George Soros hands control of empire to his son Alexander

American financier George Soros is handing control of his $25 billion empire to his son Alexander. The Wall Street Journal reported.

In December, the Board of Directors of the 92-year-old George Soros’ Open Society Foundations chose his 37-year-old son Alexander as chairman, who succeeded his father in this post.

According to the media outlet, Alex Soros is the only family member on the investment committee that controls the firm that manages the funds of the Foundation and the family — Soros Fund Management.

Representatives of the businessman said that in the coming years, most of the $ 25 billion will go to the Open Society Foundation, and about $ 125 million will be earmarked for the political action committee.

Alex Soros, in his first interview after election to the post of chairman of the organization, said that he was going to support American left-wing politicians and engage in U.S. domestic politics, as he was «more politically active» than his father. At the same time, he noted that their views with the father coincide.

Alex Soros said that he would be more active in campaigning for voting rights and the right to abortion, and also expressed concern about the possibility of Donald Trump’s re-election as President of the United States next year.

George Soros is an American trader, financier, investor, and philanthropist. He is a supporter of the theory of an open society and an opponent of «market fundamentalism». He is a creator of a network of organizations known as the Soros Foundation, member of the Executive Committee of the International Crisis Group.