George Soros Donates The Majority Of His Personal Fortune To The Open Society Foundations

Posted onCategoriesCompany, Financial

Born in Hungary in 1932, billionaire hedge fund icon, George Soros has built a strong reputation as one of the leading liberal political donors and philanthropists based on using his personal fortune to aid the development of democratic principles in many areas of the world. In a bid to extend the liberal principles he has championed in the U.S. and across portions of Africa, Asia, and Europe, George Soros established his own philanthropic group called the Open Society Foundations which has now benefitted from the generosity of the Holocaust survivor with a major donation towards the end of 2017; the donation of George Soros in 2017 reached its zenith with $18 billion donated to the Open Society Foundations from the fortune which made the hedge fund manager one of the 20 richest people in the world.

The Open Society Foundations was established to pay homage to the philosophical theory developed by French philosopher, Henri Bergson before being expanded upon by the Austrian philosopher, Karl Popper. Popper had written his own expansion of the open society theory in the book, “The Open Society and Its Enemies” during World War II and was introduced to George Soros following his refugee journey from Hungary in 1947 to study at the London School of Economics. Supporting liberal causes has seen George Soros secure a role as one of the leading donors to the Democratic Party of the U.S. where he has used his influence to warn of  rising threat of capitalism he reported in The Atlantic.

Since the earliest form of the Open Society Foundations was established in 1979 the group has benefitted from an estimated level of funding reaching $14 billion from the fortune of George Soros. In 2017, during the days prior to the $18 billion donation to the Open Society Foundations being made public, George Soros had his worth estimated by Forbes to be $23 billion as the magazine had already factored in a $3 billion donation to the Open Society Foundations rumored to have taken place in the earlier months of the year. Soros has fallen to just $8 billion but his Soros Fund Management company still holds assets estimated to be more than $20 billion; Soros has become one of the leading donors to many Democrat causes over the course of 2016 and 2017 as he has vowed to continue to fight the right-wing agenda of U.S. President Donald Trump.

One of the best-known parts of the work of the Hungarian-born investment specialists is the fact he has spent the majority of his career from the 1970s onward looking to expand upon his philanthropic work. Soros believes the fact he has been given the skills to develop a strong financial career provides him with the opportunity to assist as many individuals and groups with a similar liberal view of the world as himself.

Visit More :