CNN —George Soros’ Open Society Foundations will lay off at least 40% of its staff one month after the 92-year-old announced he handed the reins of the multi-billion-dollar foundation to his son, Alexander Soros.
The job cuts were announced in a statement signed by Alexander Soros and the foundation’s president, Mark Malloch-Brown.
In June, the senior Soros, a Hungarian-born billionaire investor, philanthropist and contributor to liberal causes, announced that he had tapped his 37-year-old son, Alexander Soros, who goes by Alex, as the organization’s new chair.
In an interview in the Wall Street Journal announcing the decision, Alexander Soros said he and his father “think alike,” but that he was more political than his father.
Alexander Soros also said that under his leadership, he planned focus the foundation more on US domestic politics.
Persons:
George Soros, Alexander Soros, Mark Malloch, Soros, Alex, “, Luiz Inácio Lula da Silva, Justin Trudeau, George Soros ’, Alex Soros
Organizations:
CNN, Open Society Foundations, Society, Street Journal, Biden, Canada’s, Forbes, Soros
Locations:
Hungarian