The grant-making network founded by far-left kingmaker George Soros plans to gut staffing by at least 40% in the coming months.
Open Society Foundations — which earlier this month confirmed the 92-year-old progressive billionaire was handing control of his empire over to his 37-year-old son Alexander — confirmed through a spokesperson there will be “significant changes” to its operating model, including “a substantial reduction in headcount of no less than 40% globally,” Bloomberg News reported.
The nonprofit’s biggest expense in 2021 was its staff, according to its most recent tax filings.
It spent almost $72 million on pay and another $40 million on benefits and pension plans and had more than 500 employees as of the end of 2021.
“The board aims to transform operations across the global network, with the goal of generating a nimbler organization,” said a statement by the younger Soros and the nonprofit’s president Mark Malloch-Brown. “While Open Society works on these internal changes, the board remains firmly committed to the foundations’ core priorities — democracy, human rights, climate justice, and addressing inequity.”
George Soros typically tries to keep a low profile, exerting influence by donating under the radar to lefty candidates — including soft-on crime district attorneys across the United States — and funneling money to liberal causes and groups.
Open Society Foundations and related nonprofits he founded have doled out more than $32 billion worldwide since 1984, according to its website.
Alexander Soros, who chairs Open Society Foundations, has taken on the role of a de-facto White House “ambassador” by making plenty of visits there since Joe Biden took office, The Post previously reported.
Other Open Society honchos have also logged in serious Facetime with Biden officials at the White House since the start of 2021.
Alexander Soros recently told the Wall Street Journal he’s “more political” than his father, adding he was concerned about Donald Trump’s 2024 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.
Besides Biden administration officials, Alexander Soros has recently met with Senate Majority Leader Chuck Schumer (D-NY), far-left world leaders, including Brazil President Luiz Inácio Lula da Silva and Canadian Prime Minister Justin Trudeau to promote 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 suggestions included “Well-being in Uncertain Times” workshops and an upcoming “Solidarity Spaces.”
A native of Hungary, George Soros founded Soros Fund Management and earned a fortune by making outsize bets, including an infamous wager against the British pound.