Soros Foundation to End Most EU Operations in Radical Shift
- Letter to grantees: “radical shift of strategic direction”
- Soros handed control of OSF to his son, Alexander, in June
Photographer: Fabrice Coffrini/AFP/Getty Images
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Open Society Foundations, the philanthropic organization that controls most of the assets in George Soros’s $25 billion family office, is set to end a large part of its operations in the European Union as part of a retrenchment under new leadership.
Soros, 93, handed control of OSF to his son, Alexander Soros, in December, and he later announced a headcount reduction of at least 40% at the foundation, which donates money to humanitarian and democratic causes worldwide.