Behind The Mind of George Soros, the Philanthropist
George Soros is a well-known Hungarian-American businessman, philanthropist, social activist, currency speculator and stock investor. Born in Hungary, George was raised under cover of a pro-nazi totalitarian socialist regime. Later, he would free his country of birth and enrolled at the London School of Economics, while at the same time working as a railway porter and waiter. He got his first start in finance by working at a merchant bank. In spite of his humble beginnings, George Soros has managed to establish himself as one of the world’s wealthiest men in addition to being a generous philanthropist. George is also among the most vocal proponents of liberal politics both in the US and across Europe.
Early Life and Career
George Soros was born in Budapest, Hungary and survived his time in the German-controlled country to move to England in 1947. After moving to England, he enrolled at the London School of Economics, where he obtained his master’s degree in philosophy. His business career kicked off with several merchant banks within England and in the United States before he launched his first hedge fund named Double Eagle, way back in 1969.
The profits that he realized from his first hedge fund were used to found Soros Hedge Management, which was his second fund, in 1970. On the other hand, Double Eagle changed its name to the Quantum Fund. The Quantum Fund was the principal adviser to Soros’ next business ventures. At the time Soros founded the firm, the Quantum Fund had about $12 million of the assets under its management. By 2011, the figure had risen to about $25 billion, representing a significant portion of his worth. In 1992, he pulled off a spectacular deal, going short on the Sterling Pound to the tune of $10 million and earning a profit of $1 billion. That earned him the nickname ‘the man who broke the Bank of England.
Philanthropy and Political Ideals
Besides worldwide acclaim for his astute business mind, George Soros is also well known for his philanthropic activities and involvement in politics. George Soros transferred $18 billion to his human rights foundation, which brings his lifetime contributions to $32 billion. The Open Society Foundations is one of the organizations that have received the highest amount of financing from George Soros. Open Society is an organization that builds vibrant and tolerant democracies. It was founded in 1979, and it has donated close to $14 billion since its establishment.
George has donated millions of dollars to a collection of causes and charities, with a notable example being one $500 million donations that went toward helping the refugees from Syria. Soros was also a central figure in Hungary’s peaceful transition from Communism to Capitalism from the period spanning from 1984 to 1989. Many political observers involved in the process consider the funding and organization of the Rose Revolution by George Soros in Georgia to have been fundamental to its success. Additionally, he has been actively backing the Democratic political activities within the US, and he remains among the wealthiest funders of liberal ideals in America and Follow him Twitter.com.