George Soros cedes control of empire to younger son – report

George Soros (AP)

Billionaire investor turned philanthropist George Soros is ceding control of his 25 billion dollar (£19.8 billion) empire to a younger son, Alexander Soros, according to a newspaper interview.

Mr Soros’ business holdings include his non-profit Open Society Foundations (OSF), which is active in more than 120 countries around the world and funnels about 1.5 billion dollars (£1.19 billion) annually to groups which back human rights and promote the growth of democracies around the world.