George Soros hands over his corporate empire to son Alexander. What distinguishes the 37-year-old, who was not intended for the role for a long time?
The best way to show how harmonious the relationship between father and son is is a picture from June 2022. Alexander Soros – striking horn-rimmed glasses, three-day beard, black zip sweater – is sitting smiling on a bench next to his father, the legendary investor George Soros, and puts his arm around the elderly gentleman. The Golden Gate Bridge shines behind them, the sun above them.
Alexander Soros himself posted the photo for Father’s Day last year, along with congratulations to the “goat” – the greatest of all time, so that’s how he seems to see his father. Apparently he also thinks highly of his son – and has now chosen him as his successor among his five children. It was by no means always agreed that Alexander Soros would rise to the top of the $25 billion family empire. The old man skipped some more obvious options when making his choice.
For a long time it looked like there might be other solutions. For many years, Alexander’s half-brother Jonathan was considered the designated successor. Then he fell out with his father and founded his own company. In Soros’ investment empire, too, there were always up-and-coming managers who were traded as successors. But here, too, the patriarch lost confidence at some point.
With Alexander it was the other way around. His rise began at a low point. In 2009, when young Soros was just 24, he posted a post on Facebook: “Chill out at dad’s house in Southampton, sip cheap beer while we cruise around the family yacht and make out with the babes.” American tabloid media took up the post and triggered a shitstorm. The house blessing at the Soros hung crooked, the reputation of the entire family seemed damaged – which must mean something in the case of the Soros. Father George has been the target of conspiracy ideologues and right-wing politicians for decades, who accuse him of imposing his own world order.
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Alexander Soros describes the Facebook post today as a key experience. He didn’t want to be one of those spoiled kids like Paris Hilton, who you only know for their parties. He decided to become like his father – but with a clear focus: Since his half-brother Jonathan was supposed to inherit the hedge fund division, he, Alexander, wanted to take over the other half of his father’s empire, philanthropy. A second passion of George Soros.
In the spotlight of conspiracy myths
The now 92-year-old has built a network of charities since the 1970s. With his Open Society Foundations (OSF), he has supported hundreds of initiatives since 1979, from civil rights movements, educational institutions to poverty projects. But his focus on liberal and pro-democracy concerns also made Soros an enemy, especially for anti-Semites. They see him as the “tip of world financial Zionism,” a conspiracy myth according to which the Jewish super-rich control world politics in the background.
Soros senior has been fighting this image for years. This is one of the reasons why Soros was happy when his son jumped to his side a few years ago. None of the other four children became enthusiastic about philanthropy. One theory is that this is why he promoted Alexander. Another is that Soros should have had a bad conscience. Alexander is the second of three marriages, and Soros senior never paid much attention to him. Alexander suffered from it, ate the grief into himself, was overweight, depressed and shy. “I felt unwanted,” Alexander once said about his father.
Alexander Soros, the apprentice
Recognizing his son’s serious endeavors, George hired advisors to mold him. They taught him how to give speeches, how to give interviews, how to pose for photos, what to wear. Alexander initially accompanied his father on travels, where he was introduced as an “apprentice”. Later he oversaw his first smaller projects in Africa. One of the first included reforms for the Congo. Later Alexander went to Berlin for Transparency International, traveled to the Amazon and visited Israel several times. It is said that Alexander has become significantly more political. Between 2004 and 2006 he worked for the family foundation. At the time, however, he was considered shy and no one believed that he would be capable of the path he is taking today. But: Over the years, the boy who was mostly silent in meetings has become a man with profile and expressiveness.
But there are also other reports: Soros is said to be unreliable. He doesn’t think much of plans, and when he does, he arranges them strictly according to his own mood. It is said that the world must conform to him and not the other way around. Once he was supposed to travel to Jordan for the foundation and visit a refugee camp there. But he came a day later because he preferred to visit friends in Tel Aviv the night before. He didn’t care that dozens of people were waiting for him in Jordan.
But when he does appear, his companions say, he can be enthusiastic about many projects. Whoever pays decides the music. That’s the way it is with Alexander Soros.
Soros is particularly enthusiastic about sports, especially American football. He cannot be reached on game days, his friend Svante Myrick says about him in the Wall Street Journal (WSJ). “For Alex it’s football, philosophy and politics, in that order.” In contrast to his father, he is also not very interested in finances and, in return, has not been able to get him interested in football. Instead, they spent hours discussing ideas and world politics. His dissertation topic, “Jewish Dionysus: Heine, Nietzsche, and the Politics of Literature,” reportedly inspired his father. Both share many values, they say in a joint WSJ interview.
Alexander is more willing to compromise
Nevertheless, it is clear to both that the differences outweigh the differences. Alexander focuses on domestic issues. Father George wants to make the whole world a better place. Alexander is helping Democrats target Latino voters and increase turnout among black voters. George is taking a clear anti-Republican course. “Just because someone votes for Trump doesn’t mean they’re lost or racist,” says Alexander. Soros Sr., on the other hand, calls Trump a “blender, impostor and would-be dictator”.
Another difference becomes clear here: Alexander is not as loud, not as confident as his father. Friends say he feels uncomfortable in large public spaces – also because he lacks experience. However, his appointment could help the organization in one important way. “It’s unlikely that Alex will be the bogeyman that George Soros was for the right,” said Anthony Romero, executive director of the American Civil Liberties Union, which is funded by Soros. Alex wants more freedom of speech, not less. “I have some differences with my generation on free speech and other things — my evening show used to be watching Bill Maher on TV,” he said, referring to the television personality and well-known First Amendment advocate.
With demands like these, Soros is beating open doors to Donald Trump. He certainly doesn’t want that, but in the end it doesn’t matter. This could ultimately help his organization if Trump moves back into the White House from 2025. As early as 2016, there were fears that Congress could investigate the OSF for its overseas projects. Some foundation members at the time pushed for a more conservative approach. While Alex Soros voted to the contrary, he was not yet in charge either. Now, with Alexander, the starting position is better, say companions. He wants to be more political. But that would also mean having to make compromises. Even if the person on the opposite side is called Donald Trump.
Source: Stern
