George Soros’ Open Society Foundations reportedly will lay off 40% of its staff.
The move comes around one month after George Soros announced he passed down control of the organization to his son, Alexander Soros.
Does this signal there’s trouble at the far-left organization?
In a statement, the organization said it’s going through “significant changes” to its operating model.
“Through this new model, the Board aims to transform operations across the global network, with the goal of generating a nimbler organization better able to build on past achievements and confront urgent and emerging challenges,” the statement read.
https://twitter.com/Travis_in_Flint/status/1674909018827939842
CNN reports:
A spokesperson for the Open Society Foundations told CNN that implementing the organization’s new vision required “difficult decisions,” and that it planned to reduce its headcount by no less than 40% globally.
ADVERTISEMENTOpen Society Foundations currently has about 800 staff across the globe.
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.
He recently met with Biden administration officials and liberal leaders of other countries, including Brazil’s President Luiz Inácio Lula da Silva and Canada’s Prime Minister Justin Trudeau, according the the Journal.
Forbes estimates George Soros’ net worth to be $6.7 billion, but he has donated significantly more than that — $32 billion — to his foundation since 1984.
Perhaps Alex Soros is saving money to dump into American politics?
He reportedly met with Joe Biden at least 17 times over the past two years.
“I for one am definitely sick of how much the Uniparty political establishment people cowtow to any of the Soros’s. They need to be blackballed from entering the WH. Why do these people believe they have this much control of our country?” Mike Flynn wrote.
Hey @Travis_in_Flint I for one am definitely sick of how much the Uniparty political establishment people cowtow to any of the Soros’s. They need to be blackballed from entering the WH. Why do these people believe they have this much control of our country? https://t.co/N6br5Q0xNW
— General Mike Flynn (@GenFlynn) July 1, 2023
As Bloomberg noted, Soros appears willing to spend any about of money to try and keep Trump out of the White House.
The nonprofit’s biggest expense in 2021 was compensation, according to its most recently available tax form. It spent almost $72 million on pay and another $40 million on benefits and pension plans.
Alex Soros, 37, said he’s “more political” than his father in a recent interview with the Wall Street Journal. He added that he was concerned about Donald Trump’s potential White House run. “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,” he told the newspaper.
Alex Soros met recently with Biden administration officials, Senate Majority Leader Chuck Schumer, Brazil President Luiz Inácio Lula da Silva and Canadian Prime Minister Justin Trudeau to push for issues related to the family foundation, the Journal reported.
An internal email to managers on Friday shared resources and tips for communicating and supporting their teams during the changes, according to a copy seen by Bloomberg. These included a People and Culture Advisory Partner, Well-being in Uncertain Times workshops, and an “upcoming Solidarity Spaces.”
A native of Hungary, George Soros is known as a major supporter of liberal causes and Democratic politicians, and has long been a target of the political right. He founded Soros Fund Management and earned a fortune by making outsize bets, including an infamous wager against the British pound. He converted the fund to a family office in 2011. His foundation has spent $19.1 billion so far.
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