Trump Demands Criminal Charges Against George Soros: Who's The Billionaire & Why Is He A Target?

Last Updated:August 28, 2025, 10:44 IST

US President Donald Trump is seeking federal charges against billionaire George Soros and his son Alex, accusing them of fuelling anti-government protests

Trump has often linked Soros to prosecutors, politicians, and protest movements he opposes.

US President Donald Trump has accused billionaire George Soros and his son Alex of supporting violent protests across America, demanding that they be prosecuted under a federal racketeering law commonly used against organised crime. The explosive statement, made on his social media platform, follows years of tension between Trump and the Soros family, a major donor to liberal causes and Democratic candidates.

While the Soros-backed Open Society Foundations has categorically denied the allegations, the political backdrop and the intensity of Trump’s rhetoric have reignited debate around a man often treated as a lightning rod in global politics.

What Exactly Did Trump Say?

On August 27, Trump posted on Truth Social: “George Soros, and his wonderful Radical Left son, should be charged with RICO because of their support of Violent Protests, and much more… Soros, and his group of psychopaths, have caused great damage to our Country! That includes his Crazy, West Coast friends… Be careful, we’re watching you!"

The post appeared to respond to reports in right-wing media outlets alleging that organisations linked to the Soros-funded Open Society Foundations (OSF) were indirectly supporting protests, particularly against Trump’s deployment of troops in Democratic cities such as Washington DC and Los Angeles. These claims have not been substantiated.

In a statement to AFP, a spokesperson for OSF said: “These accusations are outrageous and false. The Open Society Foundations do not support or fund violent protests. Our mission is to advance human rights, justice and democratic principles at home and around the world."

What Is The RICO Act That Trump Is Referring To?

RICO stands for the Racketeer Influenced and Corrupt Organizations Act, a US federal law enacted in 1970. Originally designed to target mafia-style organised crime, the law allows prosecutors to charge individuals if they participate in a criminal enterprise and commit at least two related offences within a 10-year span.

RICO has been used against drug cartels, financial fraud rings, and corrupt public officials. In this context, Trump is suggesting, without evidence, that the Soros family has engaged in a coordinated pattern of criminal activity through their funding of protest-related initiatives.

As of now, no formal investigation or legal action has been announced in response to Trump’s claims.

Who Is George Soros?

Born György Soros in Budapest on August 12, 1930, he survived Nazi occupation during World War II by going into hiding with his family in 1944. In 1947, he left Hungary for the United Kingdom and graduated from the London School of Economics in 1952.

Soros immigrated to the United States in 1956. After working at several financial firms, he launched his own hedge fund in 1973, which later became the Quantum Fund. His most famous financial move came in 1992, when he bet against the British pound and made over $1 billion in a single day, a trade that earned him the nickname “The Man Who Broke the Bank of England."

Soros’s investment philosophy is built on the idea of “reflexivity," which argues that market participants’ perceptions can shape market reality, creating feedback loops that drive prices away from fundamentals. His firm, Soros Fund Management, currently oversees $28 billion in assets. His personal net worth is estimated to be around $7.2 billion, per Economic Times.

Why Does Trump Keep Targeting George Soros?

George Soros, 95, has long been a vocal supporter of liberal and Democratic causes. His philanthropic organisation, the Open Society Foundations, operates in over 100 countries and supports work in public health, education, human rights, and democratic governance.

Soros and his son Alex were among the largest donors to former Vice President Kamala Harris’s 2024 presidential campaign, contributing more than $85 million, according to a report in the Financial Times.

Trump has often linked Soros to prosecutors, politicians, and protest movements he opposes. During his own 2024 hush money trial in New York, Trump claimed that Manhattan District Attorney Alvin Bragg was “controlled" by Soros, a claim Soros has denied. He was awarded the Presidential Medal of Freedom by former US President Joe Biden in January 2025.

Has Soros Faced Legal Action Before?

Yes. Soros has been involved in several financial regulatory cases:

In 1977, he was charged with stock manipulation in the US and settled without admitting guilt.In 2002, a French court convicted him of insider trading in a deal involving the bank Société Générale. He was fined $2.25 million.In 2009, Hungary’s financial regulator fined Soros Fund Management $2.2 million for attempting to manipulate the stock of OTP Bank.

What Role Does Alex Soros Play Now?

In 2023, George Soros officially handed over control of the Open Society Foundations to his son Alexander Soros. Alex has taken a more public-facing role, including active support for the Democratic Party and Vice President Kamala Harris’s 2024 campaign.

He co-chairs the foundation’s national finance council and also oversaw OSF’s decision to lay off a significant portion of its staff in 2023 as part of a strategic realignment.

Broader Context Behind The Accusation

According to AFP, conspiracy theories involving the Soros family resurfaced in June 2025, when protests erupted in Los Angeles during immigration enforcement actions. Some viral posts falsely claimed that Soros-backed groups had placed bricks on the streets, images that were debunked by fact-checkers.

Trump’s comments are part of a wider pattern in which he has threatened legal action against perceived opponents. In recent months, he has suggested investigations into Kamala Harris, Joe Biden, and Chris Christie, and the FBI recently searched the home of John Bolton, Trump’s former national security adviser.

At the same time, Trump himself has faced RICO charges in Georgia for his alleged attempts to overturn the 2020 election. That case has stalled after the lead prosecutor was removed, as noted by the Financial Times.

Is There Any Action Being Taken Against Soros Based On Trump’s Claim?

As of now, no law enforcement agency has announced an investigation into George Soros or Alex Soros based on President Trump’s RICO allegation. The OSF continues to reject the accusations, and no court has entertained a case on these grounds.

The statement remains a political one, without any official legal development at this stage.

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