New Delhi, 3rd July 2023: The Open Society Foundations, which is led by billionaire philanthropist George Soros, is undertaking a dramatic transition that will result in massive job layoffs. The announcement comes just a month after George Soros handed over the control of the organisation to his son, Alexander Soros.
In a joint statement with the foundation’s president, Mark Malloch-Brown, Alexander Soros said that the organisation would introduce a new operational model to handle current problems and expand on past achievements.
According to an Open Society Foundations representative, the new vision demanded harsh decisions, resulting in a 40% reduction in global employees. The organisation, which currently employs roughly 800 people worldwide, aspires to become a more flexible institution capable of addressing emergent concerns.
George Soros named his son Alexander, also known as Alex, as the organisation’s new chair in June. Alexander revealed in a candid interview with the Wall Street Journal that he and his father shared similar viewpoints, but he described himself as more politically inclined. Notably, he said that under his leadership, the United States will place a greater emphasis on domestic politics.
Alexander Soros has been active in connecting with leaders and officials since taking on his new post. According to reports, he recently met with significant figures including Brazil’s President Luiz Inácio Lula da Silva and Canada’s Prime Minister Justin Trudeau. These conversations indicate a trend towards greater involvement in global politics under the leadership of the younger Soros.
George Soros, whose net wealth is estimated by Forbes to be $6.7 billion, has been a huge contributor to his foundation, donating a whopping $32 billion since 1984. The Open Society Foundations is widely recognised as the world’s largest private funder of independent organisations dedicated to advancing justice, democratic government, and human rights.
The reform of Open Society Foundations, led by Alexander Soros, is a watershed moment for the organisation. The impact of these developments on the world arena remains to be seen as it redefines its priorities and addresses serious challenges.
