The 92-year-old former hedge fund manager George Soros, who in recent times has been a leading philanthropist and contributor to liberal causes, has transferred leadership of Open Society Foundations (OSF) to his son Alexander.

OSF was founded in 1979 with the goals of working for justice, democratic governance, and human rights worldwide. George Soros has contributed $32 billion to the foundation with grants distributed by OSF totalling $19 billion since its founding, according to the OSF website.

In an interview with the Wall Street Journal, George Soros stated that his son had ‘earned it’, while Alexander himself told the Journal that he is ‘more political’ than his father, and that through the foundation he would be looking to address different causes such as voting rights and abortion rights.

After his quiet December appointment as Chairman of OSF, Alexander also took charge of his father’s political action committee, Democracy PAC. It gave $81 million in political donations during the 2019-20 US election cycle according to Open Secrets. ‘As much as I would like to get money out of politics, as long as the other side is doing it, we will have to do it too’ Alexander Soros told the Wall Street Journal.

Additionally, Alexander Soros sits on the investment committee of the foundation that oversees Soros Fund Management, with the large majority of the $25 billion in assets under management belonging to the OSF.

Simon Hungin is a freelance writer that supports Alliance magazine.