US billionaire philanthropist George Soros has handed over the running of his $25bn (£19.9bn) financial and charitable empire to his son Alex.
The Hungarian-born financier said his son had "earned it", in an interview with the Wall Street Journal.
Since the 1990s the family's wealth has been directed to support democracy-building in dozens of countries.
But in recent years the 92-year-old former hedge fund manager has become the focus of anti-Semitic conspiracies.
A Soros spokesperson confirmed to the BBC the details of the interview published on Sunday.
George Soros is also one of the largest donors to the US Democratic Party. Alex, a 37-year-old history graduate, is the second-youngest of his five children.
Alex is the only family member sitting on the investment committee for Soros Fund Management, the vehicle which the Wall Street Journal says is managing the $25bn for the family and the charitable foundation.
Alex took over at the Open Society Foundations (OSF) as chairman in December and is also in charge of his father's "super PAC" a US mechanism to direct funds to political parties.
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