Even if you are not a keen follower of the news, chances are that you have heard the name George Soros. Arguably one of the most discussed people on the planet, Mr. Soros is a Hungarian-born businessman. He is also an accomplished author and philanthropist. The key reasons Mr. Soros often comes up in conversations is his wealth and political involvements. Today, he is worth in excess of $25 billion and is a strong supporter of liberal and progressive undertakings in America.
George Soros was born to a Jewish family in Hungary. Unlike many, Soros and his family were fortunate to survive through the Second World War. Following the end of the war, he moved to London where he enrolled at the London School of Economics. He went on to complete a Bachelor and Master of Science at the institution. After that, he started working at Singer and Friedlander, a bank in London. Two years later he moved to the United States after being employed as a trader at the brokerage firm F.M. Mayer. His understanding of European securities was so exemplary that soon after Wertheim and Co came calling. Four years at the organization was followed by ten years as the Vice President at Arnhold and S. Bleicheroeder. While still at Arnhold and S. Bleicheroeder, he founded Soros Fund Management, later renamed Quantum Fund. Till today, the fund has generated revenues estimated at $40 billion.
Political Views and Engagements
Having grown up under Nazi occupation, Mr. Soros is a great supporter of Democratic causes. His passion for opposing anti-democratic policies has seen him strongly support various organizations that influence political nominations, elections, and appointments (also known as 527 groups). In fact, in just the 2016 elections, Politico reported that Mr. Soros put forth an estimated $25 million to help various Democratic candidates. He also donated additional funds to go towards voter mobilization and combating voter restriction.
Over the years, Mr. Soros has engaged in numerous philanthropic projects to match his considerable wealth. Given his strong political involvement in the United States, it is no surprise that many of philanthropic funding efforts Mr. Soros has supported over the years have had a democratization and freedom motive. He first rose to prominence as a philanthropist during the early 1970s when he started supporting oppressed black students in South Africa attend the University of Cape Town – a move that had been complicated by the apartheid regime in power at the time. Depending on the country, Mr. Soros’s philanthropic contributions are carried out by national Soros Foundations or the Open Society Foundation. In 2016, Forbes reported that his lifetime giving stand at an outstanding $12 billion, representing about a half of his current net worth.