Hungarian-American billionaire investor and philanthropist, George Soros who funded and donated to ‘democratic’ and ‘liberal’ causes to tackle the spread of nationalism, has announced that he will hand over his Open Society Foundation to his 37year-old son Alexander Soros.

George Soros is also famous for earning $1 billion after betting against the British Pound and breaking the Bank of England. George Soros’ OSF is active in 120 countries and spends $1.5 billion for liberal causes. He and his foundation have often been accused of spreading wrong and dangerous opinions and even funding chaos and regime change in India and throughout the world.

George Soros while naming Alexander as his successor has said that the 37year-old has earned it. Alexander has said that he is more political than his father and plans to donate his money to the left-leaning US political candidates.

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

 Alexander has been a deputy chair of OSF since 2017 and is part of the investment committee of the foundation, which is an overseer of Soros Fund Management. The OSF board elected Alex as its chairman in December and he now directs political activity as president of Soros’ political action committee in the US.