Billionaire financier George Soros is handing control of his massive empire to his son Alexander, a Soros spokesperson said on Sunday.

Alexander Soros, son of billionaire investor George Soros, is all set to run Open Society Foundation. The 92-year-old billionaire investor had previously claimed he did not wish to hand over his Open Society Foundations (OSF) to any of his five children but has recently changed his mind. Addressing the hand over to Alexander, Soros said, “He’s earned it”.

A hedge fund manager turned philanthropist and major backer of liberal causes, Soros, 92, said he previously didn’t want his Open Society Foundations (OSF) to be taken over by one of his five children.

But speaking of his decision to turn over the foundation and the rest of his $25 billion empire to his 37-year-old son, who goes by Alex, the elder Soros said: “He’s earned it.”

Also interviewed by the newspaper, Alex said he’s “more political” than his father and that he plans to continue donating family money to left-leaning U.S. political candidates.

The 37 year old founder of Bend the Arc Jewish Action stated that he was “more political” than his father. He also revealed his plans to continue to donate family money to left-leaning US political candidates, a report by the Wall Street Journal said.

“We are going to double down on defending voting rights and personal freedom at home and supporting the cause of democracy abroad,”Alexander said.

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