By Jason Cohen
Daily Caller News Foundation
Left-wing billionaire George Soros’ Open Society Foundations (OSF) is backing out of much of Europe as the organization undergoes a massive change, according to Bloomberg.
OSF is scaling back a significant portion of its activities in the European Union as part of its reorganization following the appointment of new leadership, Bloomberg reported. Soros, who is 93 years old, transferred control of the $25 billion liberal philanthropic empire to his son Alexander Soros in June, who shortly after announced a substantial reduction in the foundation’s workforce of 40% or more.
OSF referred to a “radical shift of strategic direction” in a fresh operational framework devised by OSF’s leadership that necessitates substantial additional reorganization, according to a letter sent to grantees in Hungary and given to Bloomberg.
The shift was due to “EU institutions and governments … already allocating significant resources to human rights, freedom and pluralism,” according to the letter.
OSF’s updated strategy will dedicate itself to other locations, according to an OSF internal email obtained by Reuters.
“Ultimately, the new approved strategic direction provides for withdrawal and termination of large parts of our current work within the European Union, shifting our focus and allocation of resources to other parts of the world,” it states.
“This shift is not a reflection on past work and the many contributions by staff over the years, but rather a forward-looking decision rooted in future opportunities to make a significant impact,” it adds.
Soros is from Hungary and the organization was previously based there in Budapest until 2018, according to Bloomberg. Alexander Soros was born in America and is a prolific Democratic donor, including to President Joe Biden, according to Federal Election Commission data.
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The younger Soros has visited the White House 20 or more times since Biden was elected, according to Fox News.
Many other left-wing organizations, including the Chan Zuckerberg Initiative and Planned Parenthood Federation of America are also reorganizing and laying off staff, the Daily Caller News Foundation recently reported.
OSF did not immediately respond to the DCNF’s request for comment.
This story originally was published by the Daily Caller News Foundation.
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