Category: Open Society
According to a New York Times article, billionaire George Soros has given his Open Societies Foundations $18 billion. They reported that this amount of money is one of the largest transfers of wealth from an individual person to a single foundation that has ever been made.
The $18 billion has been given by George Soros to his foundation over the last several years. However, the amount he had transferred to Open Societies Foundation was not publicly disclosed until October 2017. The only nonprofit philanthropic organization that is bigger than George Soros’ is the Bill and Melinda Gates Foundation.
The Open Societies Foundation was founded by George Soros over three decades ago. His foundation, operating in over 120 countries around the world, promotes human rights democracy. This activity includes the United States where it has addressed the abuse of minorities by police officers and well as working to protect the rights of gay and lesbians. Other recent activity includes the Ebola outbreak of 2014 which is when is funded treatment centers addressing that deadly disease.
George Soros provides campaign money to Democrats running for political office. This includes supporting Hillary Clinton’s campaign for president. This, of course, draws fire from the right wing especially alt-right websites such as Breitbart. At age 87, George Soros has been the president of his foundation for many years. He is handing this role off to Patrick Gaspard, currently the vice president, at the end of 2017.
It was in Hungary that George Soros was born. He lived through this country’s occupation by the Nazis. After World War II Hungary fell under Communist rule. Soros was able to leave the country and he went to London. Afterward, he emigrated to the United States and settled in New York City. He joined Wall Street was enormously successful. He managed a hedge fund that he was so successful at he eventually became a billionaire many times over.
One of Soros’ biggest successes came in 1992 when he placed a $1 billion bet against the British pound. His aggressive selling of the Pound eventually led to the UK government devaluing their currency. This achievement gave George Soros the nickname of “the man who broke the Bank of England”.
George Soros established the Open Societies Foundation in Hungary. He wanted to promote both human rights as well as democracy. He has been involved in many efforts over the years to increase the right to free speech, respect for individual rights, and pushing for democratic forms of government.
The Open Societies Foundation under George Soros’ leadership draws praise from other foundations and nonprofits. The president of the Ford Foundation, Darren Walker, has said that Soros’ foundation has had a larger positive impact on the world than any other foundation. He said that no other foundation is as large or influential in advocating for positive change. He called it the greatest social justice foundation that exists in the world today.