Philanthropist billionaire George Soros confirmed that he is handing control of his $25 billion empire to his son Alex.

Soros, 92, has a net worth of $6.7 billion, according to Forbes, and is one of the top 400 richest people in the world. In 2017, he shifted $18 billion from his family office to his Open Society Foundations — a group of charities that works in more than 100 countries — which Alex was named chair of in December.

Alex, speaking to the Wall Street Journal in an exclusive interview published over the weekend, said he is “more political” than his father and hinted at a significant financial role for the Soros organization in the U.S. elections next year. The Open Society Foundations did not immediately respond to a CNBC request for comment but a spokesperson did confirm the details of the interview with the Reuters news agency.