GEORGE SOROS AND THE US$18 BILLION DONATION

When it comes to the world of business and investment, the name George Soros is very popular. This man is one of the richest and highly ranked investors in the world. George Soros is known to be a philanthropic entrepreneur whose skills in investment have earned him the best rankings career-wise and businesswise. Being a Hungarian-American, Soros was born in Budapest on August 12, 1930. He migrated to England seventeen years later. George was able to attend school in England, and he graduated with a bachelor’s in philosophy in the London School of Economics. Later on, this successful investor was privileged to earn his master’s in philosophy. However, his career as an investor did not start on a high note as he had to work as a banker in the United States and England.

George later on, after getting to know the industry better, had settled and was able to fulfill his life dream of having his hedge fund. In 1969, the Double Eagle hedge fund was born. It did incredibly well, and within a year, George had gathered the profits from this fund and was planning to open his second hedge fund. In 1970, George opened the Soros Fund Management as his second hedge fund. This fund grew over the years and contributed highly to George’s success in his career. Soros has been regarded as a guru in investments. He was once able to make straight profits of one billion dollars in a day when he bet against the sterling pound. This was at the moment when the British pound had crashed out of the European exchange rate in 1992.

As a philanthropic person, it was not much of a surprise when George recently made a charitable donation of 18 billion dollars to his foundation of human rights society– Open Society Foundation. When this donation is added to his total life-giving, George stands at 32 billion dollars worth of donations and charities. Open Society Foundation moved to the rank of the second largest charitable foundation in the world after the Tech Billionaires Bill Gates Foundation. The New York Times and Wall Street Journal confirmed that George accelerated or increased the speed of donations from his hedge fund. According to the two media houses, the 18 billion dollars donation was just but a representation of his estimated worth of 23 billion dollars. Laura Sibler, Open Society Foundation’s spokesperson, implies that the foundation is still focused on its key goal of building vital and tolerant democracies in the world.

Apart from being a philanthropist, George is also a known supporter of liberal causes. He contributed very much to Hillary Clinton’s presidential bid. Despite the rising tension with the Hungarian government, Soros still made his huge donation. This implies that he stands by his decisions and what he believes is right. His foundation has not quite expounded on how the enormous donation is going to be used, but speculations suggest that some the money will go to countries where the foundation already has ongoing projects and more

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