It was reported in October 2017 by New York Times that George Soros has made a staggering donation of $18 billion to the Open Society Foundations. Soros, a banker, and hedge fund manager was listed in February 2017 as the world’s 19th richest person. His donation will further the philanthropic causes of the Open Society Foundations.
Originally from Hungary, George Soros moved to London, England in 1947. He attended the London School of Economics before beginning his career at Singer and Friedlander, a London based merchant bank. Soros worked for Singer and Friedlander for two years before transferring to F.M. Mayer in New York City. He worked there as a European stock specialist until 1959. That same year he became a European securities analyst at Wertheim & Co., also based in New York.
In 1963 Soros began working for Arnhold and S. Bleichroeder and worked his way to vice president of the company. During this time George Soros founded both the Double Eagle hedge fund and Soros Fund Management. The Double Eagle hedge fund grew from $4 million in 1969 to $12 million in 1973.In 1973 Soros left Arnhold and S. Bleichroeder, deciding to work full time as chairman of Soros Fund Management.
In the 1970’s Soros also began his foray into the world of philanthropy. He began to fund black students attending the University of Cape Town in apartheid-era South Africa. He also began to finance the operations of dissidents behind the Iron Curtain. Soros has a lengthy history of assisting in the fight against communism. He has spent many years promoting the peaceful democratization of countries formerly ruled by the Soviet Union. Conducted primarily by the Open Society Foundations, the results of these efforts can be seen today throughout Central and Eastern Europe.
Soros has also been active in the political world. In 2004 he began to back a new political fundraising association known as the Democracy Alliance. This group yearns to spread progressive ideas and further progressive causes. He has also donated to Transparency International, a group whose focus is eliminating corruption on all levels of government and in turn ending the crimes born out of corruption. Soros is also affiliated with the Open Society Initiative for Southern Africa, a group run in Zimbabwe by Godfrey Kanyenze. It is one of the main forces behind bringing about Democratic change in the region.
Soros has also implemented the Millennium Promise in Africa. Money from this promise goes towards ending extreme poverty in the continent through education, better agricultural practices, and modern medical care. Soros’s massive $18 billion donations will allow these efforts, and much more around the globe to continue and expand, spreading peace and education.
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