People, Philanthropy

George Soros, Billionaire Philanthropist, and Expert at Helping the Less Fortunate of the World

George Soros, a self-made man was born in 1930 in Budapest Hungary. He left his country relocating to England where he gained employment as a railway porter and a waiter and put himself through London’s School of Economics. He obtained a position at Singer & Friedlander of London bank in the field of finance and later moved the New York. With this move to the United States, he got his start on Wall Street and in 1969 started a hedge fund, with $12 million, which was renamed later as the Quantum Fund.

George Soros is known as one of the world’s foremost philanthropists. He supports organizations and individuals across the world who are fighting to have governments that are accountable, along with the freedom of expression. He helps societies that are fighting for equality and justice for the people. To date, it is said that he has spent over $12 billion funding these organizations.

He has used his wealth to create and fund Open Society Foundations, which is a network of different foundations with projects and partners in over 100 countries. In 1979, he started his philanthropic endeavors by giving the black South Africans scholarships to the University of Cape Town. that were under apartheid. During the Communist Eastern Bloc in the 1980’s, he provided photocopiers so they could reprint the banned texts, to help promote an open exchange of ideas. He has also created the Central European University after the fall of the Berlin Wall. Visit Project Syndicate to learn more about George.

With the recession in the late 2000’s he founded, in 2009, the Institute for New Economic Thinking. This institute is made up of financial experts in international economic and business who investigate any new radical approaches in the organization of world economics and financial systems. Then in 2011, he returned $1 billion in funds from outside investors of the Quantum Fund and then invested his own money because of changes in the U.S. Securities and Exchange Commission rules for disclosure. He said he felt that his confidentiality to his investors would be compromised otherwise. By 2013 the Quantum Fund was the most successful hedge fund in history having made $5.5 billion. The fund has, since its founding in 1973 generated $40 billion. Never a huge donor to the U.S Political scene, he in 2004 according to the Center for Responsive Politics donated $23,581,000 to different tax-exempt groups.

George Soros is now into his 80s and continues to take a personal interest in the works of the Open Society Foundation. He still travels widely to support the work of the Foundation and pushing for a positive change, both public and private with today’s world leaders. He has always had a constant commitment to fight the most intractable problems of this world. Forbs magazine, as of 2017 listed him at the 19th richest person in the world. Know more on investopedia.com about George Soros.

Read more: http://www.forbes.com/profile/george-soros/