The son of billionaire investor George Soros dismissed the consensus at the World Economic Forum in Davos, stating that former President Donald Trump’s reelection is not a done deal.
What Happened: Alex Soros, chairman of the Open Society Foundations, provided a contrasting perspective on Trump’s potential second term in office. Despite Trump being a front-runner for the Republican nomination, Soros warned against taking his victory for granted, reported CNBC.
“In Davos, Donald Trump is already the president,” Soros stated, adding, “That's a good thing, because the Davos consensus is always wrong."
Even with multiple felony counts, Trump is still perceived by many U.S. business executives as capable of defeating President Joe Biden in the 2024 race.
However, Alex drew a ripple of laughter from the audience when he went on to say, "Donald Trump owns the Republican Party. We're in something I like to call the Trump cycle, because I think even if — and I believe, if the institutions hold, when — he loses this election, he'll also be the Republican candidate in 2028 and maybe even 2032 as well."
"What's the way out for him? He either winds up in prison or he winds up in power, he's not going off on some beach somewhere and retiring," the chairman added.
According to the report, While Trump leads in several key swing states, recent polls show a narrowing gap. Soros insisted that Biden has a “pretty good map” and backed the incumbent’s chances in states like Arizona and Georgia.
He also highlighted the importance of Wisconsin as a potential indicator of the election’s outcome. "Actually, if you want to look at one state which will really test where the election is, it's Wisconsin, because if Joe Biden's able to win Wisconsin, it should mean that he's won Pennsylvania and Michigan."
"Biden actually has a particular advantage in a polarized electoral environment which is that he's not polarizing."
Why It Matters: The younger Soros, who took over his father’s $25 billion empire last year, has shown his political tendencies, supporting left-leaning political figures. At the time, Alex highlighted the prospective political impact of the Soros Foundation, stating that while he desire to eliminate money from politics, he will continue to engage in it as long as the opposite side is doing it.
Meanwhile, George Soros, the billionaire and investor, had also previously expressed concerns about the constitutional and economic crisis a Trump win could bring to the U.S. "I expect that Trump will be found guilty, at least in some cases, and will be in jail by Election Day in November 2024."
Trump's potential return to the presidency is a cause for concern at the World Economic Forum in Davos. BlackRock Inc Vice Chairman Philipp Hildebrand also reflected the concerns of European Central Bank President Christine Lagarde, stating, "You know, we've been there before, we survived it, so we'll see what it means."
Former U.S. Vice President Al Gore cautioned against assuming Trump's victory as a foregone conclusion.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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