George Soros is a renowned billionaire who has had a lot of money channeled to his philanthropic organization. The latest discovery, according to Forbes, of the shift of 18 billion dollars from the Soros Fund Management to Open Society Foundations, has dropped his net worth. He has moved from being the 20th richest man in America to the 59th richest man. As much as his net worth has been affected, his organization that deals with philanthropic deeds globally have now become among the leaders when giving is put into play. Either way, a win-win for George Soros. Before George Soros shifted this chunk of money to Open Society Foundation, his fortune was 23 billion dollars. This donation was received over a period of time and will play a vital part in the operations of the organization. George has been planning his estate for a period of time and this is why these donations were given out. The organization will use the funds to fight for human rights, democracy, and justice globally.
George Soros wanted to ensure that these funds were used to benefit others and this is why the fund’s expenditure was to be monitored by the Soros Fund Management. In addition to ensuring accountability, Dawn Fitzpatrick was brought in as the Chief Investment Officer of Soros Fund Management. Open Society Foundations has so far funded various programs including some that deal with the general health of the public and others that focus on the refugees and their needs. It has taken a huge dive into supporting immigrants and open-minded causes that benefit people. George Soros lived in a closed society during the Hungary’s Nazi occupation. He knows the hardships associated with this kind of life and this is why he is a strong believer in democracy, human rights and the freedom of speech. George Soros fled Hungary and settled in London to escape communism. While at London he worked two jobs so that he could take himself through a Bachelors and Master’s degree at the London School of Economics, and more information click here.
After he finished studying, he moved to the United States of America where he started a hedge fund after a career at Wall Street. His hedge fund was worth twelve million dollars and he worked hard towards growing it further. His hard work did not vanish off as dust, he was named in the Forbes list among the 400 richest people 3 decades ago when he reached the three hundred million net worth mark. From that day henceforth, he has worked on climbing ranks in that list through working hard to advance his fortune. George Soros has had a huge part to play in politics as well. As a strong and dedicated member of the Democratic Party, he has constantly funded Democrats to advance their causes. Hillary Clinton has been a beneficiary of George’s funding. He has also given huge chunks of money to support education to the children who come from less fortunate homes and societies. His philanthropy has gone a long way in ensuring that the rights of the people are well catered for, and Twitter.com.
Other Reference: http://fortune.com/2017/10/17/george-soros-open-society-18-billion/