Headline Roundup • June 12th, 2023
Liberal Donor George Soros Gives Son Control of $25B Empire
Summary from the AllSides News Team
George Soros, the billionaire progressive investor and donor, is giving his son Alexander control of his $25 billion empire, according to the Wall Street Journal (Center bias).
The Details: Many reportedly believed that Alex’s older half-brother, 52-year-old Jonathan Soros, was a more likely successor. The 37-year-old Alex was elected as chairman of Open Society Foundations, his father's nonprofit, in December, and he now also directs Soros’s political action committee, Democracy PAC.
Key Quotes: "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," Alex told the Journal.
For Context: Open Society Foundations directs over $1 billion a year to human rights and social justice causes. Democracy PAC has backed election campaigns of Democratic politicians, district attorneys, and law enforcement officials, including Manhattan District Attorney Alvin Bragg, who prosecuted former President Donald Trump.
How the Media Covered It: Some center- and right-rated outlets focused more on Alex saying he's "more political" than his father. WSJ called Alex "a center-left thinker who grew up self-conscious of the family’s wealth." Associated Press (Lean Left) said George Soros has been a "right-wing target for his backing of liberal causes such as reducing racial bias in the justice system." Fox Business (Lean Right) highlighted how "In contrast with some on the left, Alex Soros said he believes free speech has become too restricted on some college campuses."
Featured Coverage of this Story
AP Photo/Ronald Zak, File
Billionaire investor turned philanthropist George Soros is ceding control of his $25 billion empire to a younger son, Alexander Soros, according to an exclusive interview with The Wall Street Journal published online Sunday.
Soros’ business holdings include his nonprofit Open Society Foundations, which is active in more than 120 countries around the world and funnels about $1.5 billion annually to groups such as those that back human rights and promote the growth of democracies around the world, according to its website.
The 37-year-old, who goes by Alex, told the Wall Street Journal...
Jason Alden/Bloomberg via Getty Images / AP Newsroom
Left-wing billionaire, investor and philanthropist George Soros, 92, is reportedly handing the reins of his $25 billion empire to his younger son, 37-year-old Alexander "Alex" Soros.
"I’m more political," Alex Soros told The Wall Street Journal in the first interview since his selection, indicating his intent on broadening his father's liberal goals.
He reportedly plans on continue in his father's footsteps in backing left leaning politicians.
"We think alike," George Soros said of his son and now successor, namely on voting and abortion rights, as well as gender equity.
"As much as...
CHRISTOPHER LEE FOR THE WALL STREET JOURNAL
George Soros, the legendary investor, philanthropist and right-wing target, is handing control of his $25 billion empire to a younger son—Alexander Soros, a self-described center-left thinker who grew up self-conscious of the family’s wealth and wasn’t thought to be a potential successor.
The 37-year-old, who goes by Alex, said in the first interview since his selection that he was broadening his father’s liberal aims—“We think alike,” the elder Soros said—while embracing some different causes. Those include voting and abortion rights, as well as gender equity. He plans to continue using the family’s deep pockets to back left-leaning...
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