Category Archives: Business magnate

George Soros Made One Of The World’s Biggest Charities

One of the world’s most kindhearted philanthropists, George Soros, the founder of the Central European University in Budapest has graciously donated 80% of his riches, dropping his original 39th spot on the Forbes rich list. Once being a net worth $23 billion, Soros’s substantial $18 million gift brings his total donations to over $32 billion that he has bestowed to the Open Society Foundation, a charitable organization that is striving to support individual’s human rights, justice, and equality across around the world for over three decades.The organization runs programs and grants for refugees, public health, and are a dedicated group that focuses their efforts on advancing the need for freedom of expression and democracy.

Although many may argue that the donations are solely based on tax write-offs, however, his real generously stems from his history and his devotion to improving the rights of everyone all over the globe.George Soros was born in a Jewish family and it was after he turned 11 that the Nazis had taken over Hungary’s capital, Budapest. He managed to survive World War II and in 1947, was able to escape communism.His brush with danger made a significant impact on his views in life and has inspired him to commit to protecting human rights and spreading democracy to the rest of the world.

After he escaped his home country he migrated to London, where he worked as a railway porter and waiter while he attended London School of Economics and earned a bachelor’s and eventually finished with a master’s of science in philosophy. Before he started Double Eagle his first hedge fund in 1969, which was later renamed Quantum Fund, George Soros began his business venture in both England and the United States, taking various merchant bank jobs. A year later, in 1970, the money earned from his first hedge fund was enough for him to start a second, Soros Fund Management, a private American Investment Management firm.

During the UK currency Crisis in 1992, he earned the title “the man who broke the Bank of England,” after his short sales in $ 10 billion worth of United Kingdom currency forced the government to devalue the pound.He became one of the top distributors to Democrats, such as Mrs. Clinton and also gave millions to PACs who was opposing Trump during the last election.His philanthropy really began in 1979 when he decided to give scholarships in Sothern Africa and in the 1980s he helped the open exchange of ideas in Hungary funding trips to the West. After the Cold War, he had expended to other areas of the world such as the United States, Africa, Latin America, and Asia, investing his wealth in new causes that will promote a fair, more accountable, transparent, and democratic governments and communities.For years Soros has given generously to Open Society Foundations about $800 to $900 million every year.This year he has increased that amount to around $18 billion and he is still estimated to donate an additional $2 billion in the following years to come.