Craft in the City

George Soros Donates $18 Billion To The Open Society Foundations

Iconic investor and hedge fund manager George Soros is not only famous for his riches and position as one of the wealthiest men in the world. Besides his investments, George is also a philanthropic man. At the age of 87, he has been involved in funding a human rights foundation he founded in 1979. The Open Society Foundations recently received $18 billion, a donation that quickly pushed the organization to be one of the largest non-profit companies in the world today. However, this is not the only donation that George Soros has made towards human rights funds. He has cumulatively contributed an estimated $32 billion towards this cause.

George Soros Background

George wasn’t born a wealthy man, and neither was life easy on him. He was born in Hungary in 1930 during one of the worst genocides to be experienced in the world. He managed to flee the country and put himself through college. George attended the London School of Economics and worked as a waiter and railway porter to meet his basic needs. In 1969, he created hedge fund which would grow to become one of the most successful in business history. He also actively invested in the Soros Fund Management, a family office that currently boasts more than $25 billion in assets.

George is a well-known supporter of political causes, and he dispenses his donations through the Open Society Foundations. He aims at providing finds to champion civil initiatives that are aimed at reducing poverty, promoting transparency, and providing scholarships to universities across the world.

Open Society Foundations

The Open Society Foundations is the third largest charitable organizations in the world after the Bill and Melinda Foundation and the Wellcome Trust. The foundation has branches and partners all over the world. It primarily focuses on combating issues to do with human rights, discrimination, and injustice. Since its inception, the organization has championed liberal causes and supported nations in upholding human rights and justice. The foundation has given over $14 billion towards these causes since it was founded in 1979. Through the organization, George Soros has helped in the provision of essential amenities and accommodation to refugees and victims of political unrest in various countries across the world.

In 2017, the Open Society had an expenditure of $940 million. As aforementioned, the foundation has incurred expenses of up to $14 billion since it was formed. This is an indication of how significant a role it has played in issues to do with politics, economic governance, human rights, civic education, and justice reform.

The Success of George Soros

It is no doubt that George Soros is a successful investor and philanthropist. His success in financial markets has been a contributing factor towards establishing authority in his human rights causes. It has given him independence and allowed him to take a stand even on controversial issues. According to him, it is this success that enables him to do things that others cannot when it comes to raising a voice against injustices and discrimination in the world today.

To Learn More : www.nytimes.com/topic/person/george-soros

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