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American billionaire and founder of the controversial Open Society Foundation OSF George Soros announced in an interview with The Wall Street Journal that he is passing down control of his empire to his son Alexander Soros.

The senior Soros has made a name for himself by supporting liberal non-profits and think tanks over the world under the pretext of "spreading democracy".

The foundation has put more than $32 billion into various NGOs globally since 1988, placing the elder Soros under the spotlight for what many described as the fabricating and financing of color revolutions in countries that don't align with American interests and oppose Washington's agendas in various parts of the world - namely in Eastern Europe in the 1990s and most recently the 2014 coup in Ukraine.

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The 37-year-old who chairs his father’s OSF and directs its political action committee, which aims to promote “the growth of inclusive and vibrant democracies”, is also a fundraiser on behalf of the Democratic Party. 

Soros told WSJ in the interview published on Sunday that Alex has "earned" becoming the head of the $25 billion financial and political family firm, explaining why he chose him as a successor, despite having stated earlier that he does not want OSF to be taken over by any of his five children.

Alex admitted to the journal that he is “more political” than his father and plans to continue funneling money into American politics.

The New York Post reported in April that the newly chosen successor had made at the time 14 documented visits to the White House since US President Joe Biden took office in 2020.

“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 WSJ.

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