George Soros’ Open Society Foundations will lay off at least 40 per cent of its staff amonth after the 92-year-old announced he handed the reins of the multi-billion-dollar foundation to his son, Alexander. The job cuts were announced in a statement signed by Alexander Soros and the foundation’s president, Mark Malloch-Brown, reports CNN. Open Society Foundations currently has about 800 staff across the globe. Alexander Soros also said that under his leadership, he planned focus the foundation more on US domestic politics. 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, CNN reported.

Source: New York Times July 02, 2023 08:21 UTC