George Soros Moves $18 Billion to His Charitable Foundation

Philanthropist and renowned investor, George Soros transferred $18 billion to The Open Society Foundations. This is a massive donation from his estimated fortune of $24.6 billion. His charitable organization, The Open Society Foundations, aims at promoting democracy in the world. The foundation confirmed the massive donation made by the renowned investor in the month of October this year. The first report of this funds transfer was run by the Wall Street Journal.

The Open Society Foundations

The Open Society Foundations exists in over 100 countries going by the number of outposts reported on its website. The foundation works at combating authoritarianism, promoting human rights, offering support to marginalized groups that include the LGBTI, refuges and others who are discriminated for who they are. According to an account given by an official from the foundation, the surprising move by George Soros is an ongoing process. The official stated that it has been active for several years as the billionaire investor has plans to leave a huge chunk of his wealth to the foundation.

According to Laura Silber, the spokesperson of the Open Society Foundations, they have so far spent around $14 billion ever since the 1980s. The foundation is now worth $18 billion, which made it bigger than the Ford Foundation and only second to Bill and Melissa Gates Foundation. This is according to figures found at the National Philanthropic Trust.

About George Soros

George Soros is among the top philanthropists in the world. The wealthy investor has so far donated over $32 billion from his personal fortune to his foundation’s engagements throughout the world. He also founded and funds the Central European University based in Budapest. The university is a top local center for social sciences study. Through the Open Society Foundations, Mr. Soros has managed to support various organizations and individuals in the world fighting for accountable governments, freedom of expression as well as societies that champion for equality and justice. The foundations also provide fees for either schools or universities to needy but promising students who would be excluded from various opportunities owing to where they hail from or live.</p>

George Soros’s history is filled with a lot of intolerance and this explains his drive and passion to help persons who are discriminated against by the society. He was born in Hungary back in 1930 and was in the country when the Nazi Occupation took place from 1944 – 1945. The Nazi Occupation left as many as 500,000 Hungarian Jews or more dead. He managed to survive the holocaust together with his family members and a few neighbors after they used falsified identity papers that hid their backgrounds to escape from the country. In 1947, Soros moved to London where he enrolled at the prestigious London School of Economics. He used to work as a night-club waiter and railway porter to support his education. In 1956, he moved to the U.S. and ventured into the field of investments and finance, where he made a huge fortune. He used his massive wealth to come up with The Open Society Foundations, a network of partners, projects and foundations present in 100 countries. and Follow him Twitter.com

Categories: Wall Street
Nov
11

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