Looking at George Soros philanthropy works across the world, it is quite evident that his charity works have a deep rooting in his past. Soros spends his childhood years in the Nazi-occupied area of Hungary. As a young adult, Soros immigrated to London where he spent some time before finally moving to the United States of America where he currently resides. While living in America, Soros started trading on wall street and eventually became successful.
Wall street made George Soros an immigrant American a lot of wealth. In 1992, Soros gambling against the British pound earned him mainstream media attention. Soros believed that the British pound was overrated therefore he placed a $1 billion bet against the currency. The aftermath of this chance led to the rapid devaluation of the money as the British bank was aggressively selling the pound. For individuals who don’t know, this is where Soros earned his name ‘the person who single-handedly broke the bank of England.’
With the wealth he acquired, George Soros shifted his focus on supporting various humanitarian and charitable causes across the globe with the emphasis being put on the promotion of democracy on a global scale. In 1984, he set up the first open society foundation in Hungary’s history.
Soros has been one of the biggest political donors in support of the Democrats. In 2016, Soros was a huge backer of Hillary Clinton’s presidential bid; he made considerable donations to Hillary’s campaign. Other than his support for Hillary, Soros also supported many Democrats who were vying for various elective posts while at the same time campaigning against Trump’s election bid.
Most of the funds he provided the Democrats went to different political action committees. Soros has been supporting various Democrats and their political agendas as a way to exercise his style of championing for democracy.
Soros is known to make significant donations to the Open Society Foundation every year. The donations to this foundation average $850 million each year. Soros drastically changed the amount of money he donated to the Open Society Foundation when he increased his contributions which is as a result of changes made to his estate planning. Read more about George at The New York Times.
The effect of the change in investment and estate planning made it possible for Soros to donate $18 billion to the Open Society Foundation. The media company that broke the word of this development first was The Wall Street Journal. More information about Soros donation to the Open Society Foundation can be found in the New York Times.
In the forthcoming years, it is expected that Soros will make more contributions to the Open Society Foundation amounting to $2 billion. The work, the Open Society Foundation, does on a global scale has been recognized throughout the world. It is true that no charitable institution can rival or match up to what the Open Society Foundation has been able to do. Darren Walker who is the current president of the Ford foundation agrees that the Open Society has been excellent in supporting various humanitarian and charitable causes throughout the world. Know more on cnbc.com about George Soros.