Report: Billionaire investor, philanthropist George Soros cedes control of empire to a younger son

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 gives about $1.5 billion annually to back human rights and promote the growth of democracies around the world, The 37-year-old, who goes by Alex, told the newspaper that he is “more political” than his 92-year-old father. But he noted that the two “think alike.” Alex said he was broadening his father’s “liberal aims” and embracing different causes including voting and abortion rights, as well as gender equity.