What’s happening: George Soros, the liberal billionaire and frequent right-wing target, is transferring control of his $25 billion empire to his younger son, Alexander Soros. Known for his liberal ideology, Alexander wasn't previously seen as a likely successor to the Soros legacy.

Why it matters: Alex has said he’s even more political than his father. He wants to expand upon his father's liberal objectives, as confirmed by the elder Soros — "We think alike." The 37-year-old plans to champion causes such as voting and abortion rights, along with gender equality, signaling a broader approach to philanthropy.

• Don’t overlook: The scale of Soros's funding is substantial—almost $200 million was spent in the 2022 election cycle, marking the most prolific spending among all political organizations.

Real-world effects: Alex Soros intends to leverage the family's wealth to support U.S. politicians leaning left. The Soros fortunes have been instrumental in backing weak-on-crime prosecutors, Democrat voter turnout efforts, Democratic candidates, partisan fact-checking entities, illegal immigration, and much more. Known for his frequent visits to the Biden White House, Alex appears to be closely aligned with top Biden Administration officials.

Globally: George Soros, a native of Hungary, is well-known for extensively funding initiatives to bring Eastern European nations to Western liberalism, opening the door for substantial business prospects and aligning them with powers such as Washington. His son Alex, born in America and involved in the high-society circles of Hollywood, is expected to focus more on domestic matters.