Open Society Foundations said Wednesday that they plan to limit new grantmaking until February, as the nonprofits transition to a new operating model run by billionaire investor George Soros’ son, Alex. A spokesperson for the foundations said that the pause will not affect current grantees.
In a letter addressed to “friends and partners,” Open Society Foundations President Mark Malloch-Brown wrote, “Technological, environmental, political, and socioeconomic shifts are challenging open society ideals around the world. This flux demands that we reimagine our philanthropy.”
