ICYMI
A Legacy Erased: Happy Birthday, George Soros Part One
Authored by Parker Thayer via CapitalResearch.org Tuesday, Aug 12, 2025
George Soros turns 95 today, and for his birthday present America brought him the annihilation of his legacy.
Soros has been known for two things: making money and spending it on political influence. Over the last few years, he has handed over control of his empire to his son, Alex, and Alex seems unable to do either of those things successfully.
The money
First, Alex ruined his reputation for making money. George was once known as “the man who broke the bank of England,” famous for making $1 billion in one day by sniffing out arbitrage opportunities in currency exchange markets.
Taking control of Soros Fund Management, Alex became the man who broke the bank of Soros. In December 2021, Alex invested $2 billion to buy nearly 20 million shares of an electric vehicle company called Rivian at somewhere between $70 and $100 per share. It was one of the largest one-off investments the fund had ever made.
A year later, Rivan shares were selling for just $18 and Soros Fund Management sold at a loss of what must have been more than $1 billion. HedgeFollow, a website that tracks and ranks U.S. hedge fund performances, currently gives Soros Fund Management a performance rating of 1 out of 5 stars, making it one of the least successful in the country.
The politics
Alex is as talented at making billions vanish as George was at making them appear, but maybe he inherited some of his dad’s skill for political maneuvering and network building?
Well, no, not really.
Alex has become famous for posting photos of himself posing with Democratic politicians and liberal world leaders, but the actual influence of the George’s network seems to have been greatly diminished. Perhaps related to the massive losses on Rivian, in July 2023 Open Society Foundations announced that it would be laying off 40 percent of its staff worldwide, halting all new grants until February 2024, and completely changing its operating model. What had once been an international network of influence peddling was slashed to the bone.
The crowning achievement of the Open Society Network under Alex so far was the passage of the so-called Inflation Reduction Act (IRA). Open Society staffers, such as Tom Perriello, were so involved in pushing the legislation that Open Society Policy Center briefly re-opened lobbying operations and became one of the top lobbying spenders in the nation. Perriello was on the floor of the House when the bill was passed. (Capital Research Center has written at length on Soros’ involvement in the IRA. The research can be found here.)
Billions of dollars for EV chargers (that never got built) and billions more for EV tax credits were crammed into to the bill, seemingly the perfect bandage for Rivian’s revenue troubles. The IRA even allocated $3 billion for purchasing electric delivery trucks for the postal service, and Rivian is one of the biggest producers of electric delivery vans. But, despite the EV subsidies and green energy handouts, the bill came too little and too late to save Soros’ investment in Rivian.
This period coincided with another of Alex’s big political maneuvers: Spending at least $4 million on Stacey Abrams’s failed gubernatorial campaign in Georgia. During that time, Rivian was starting to build a “giga-factory” outside of Atlanta and, most importantly, asking the state government for subsidies. In the eleventh hour of the Biden administration, Rivian was also awarded $6.5 billion loan for the factory from the Department of Energy. Construction on the factory has yet to even start, and Rivian stock currently trades at less than $12 per share.
The decline and fall of the Soros DA’s