George Soros, Donating $18 Billion to His Open Society Foundations

George Soros is internationally known for his exceptional career as a hedge fund manager, but most importantly he is known for his philanthropy. He started his retirement in 2011, yet, he still knows the going on’s of Wallstreet. His family office Gerge Soros Fund Management which is worth $26 billion in assets, and has been around since 1969.

George Soros is a wonderful philanthropist as was previously mentioned. Standing up for those who are less fortunate is so important to George, that he started his own foundation, the Open Society Foundations. The group has had investments of approximately $14 billion. He is an enormous advocate of liberal causes. Today we are going to look in-depth into George early life and his giving organization.

George Soros Beginnings

Soros came from a humble up bringing. He was born in Budapest, Hungary in 1930. George’s father had a law practice in Budapest after spending many years as a prisoner of war and escaping from Russia. Soros’ mother understood the success of having your own business because her family owned a silk shop for many years. The Soros family lived during the Nazi regime. In fact, while George was only a teenager they had to go into hiding and George had to pretend that he was the godson of an employee of the Hungarian Ministry of Agriculture.

Once the war was over, Soros left for England where he enrolled in the London School of Economics in 1947. A few years later after working as a salesman in England, he moved to New York in 1954. Soros started working as a clerk at London-based bank Singer & Friedlander. Then, he was promoted to the arbitrage division.

He became so successful at Sing & Friedlander that in 1970, he founded his own hedge fund, Soros Fund Management. He became one of the wealthiest investors in the history of the United States.

The Causes He Supports

George Soros cares about humanity and supports many organizations that give back and he has created opportunities to show it.

  • Starting in 1979, Soros began awarding scholarships to black South Africans under apartheid.
  • In the 1980s in Budapest, he helped fund academic visits to America and encouraged a rise of independent cultural associations and other activities.
  • He is the founder of the Central European University in Budapest which centers on the study of social sciences.

He also helps independent foundation such as Global Witness, the International Crisis Group, the European Council on Foreign Relations, and the Institute for New Economic Thinking.

Open Society Foundations

George Soros started the Open Society Foundationsin 1979. The start of the foundation is to support “individuals and organizations across the globe fighting for freedom of expression, accountable government, and societies that promote justice and equality.” according to the spokesperson Laura Silber

Recently, George has donated $18 billion to the foundation and plans to leave most of his wealth to it when he dies.

Laura also states that the recent value is $18 billion, probably making it worth more than the Ford Foundation and the second-largest charity after tech billionaire Bill Gates’s foundation, based on statistics from the National Philanthropic Trust.