December 30, 2017

George Soros; Giving All Your Fortune To Charity

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George Soros bounced into the limelight when he made a single currency wager in 1992 against the British Pound and earned a fortune within 24 hours. This event branded him the moniker “The man who broke the bank of England.” Soros pocketed over $1 billion from the bet confirming his position in the world of currency speculation. The billionaire has interest in various sectors of the global economy. The Soros Fund Management and the Open Society Foundations are some of the most notable success stories of the entrepreneur.

Now, George Soros has caused a significant stir in the non-profit world by announcing that he has transferred over $18 billion to the management of his charity, the Open Society Foundations. Pundits and mainstream media have described this move by George Soros as one of the most prominent acts of kindness from an individual in the history of America.

The transfer of over 80 percent of his net worth has earned OSF the status of second largest charity in the US after the Bill and Melinda Gates organization. According to the Foundation Center, the Open Society Foundations has cemented its position in the world of philanthropy.

George Soros is not only involved with initiatives that seek to better the lives of individuals in various communities across the globe but also plans that ensure governments are accountable and transparent. In the past, the billionaire has put his donated significant amounts of his wealth to liberal courses. In the run-up to the 2016 US election, the entrepreneur was one of the most prominent donors to the Democratic Party. He funded the campaign of presidential hopeful, Hillary Clinton and other candidates in the Democratic Party.

At 87, George Soros has relinquished his roles in the day-to-day management of his hedge fund and charity to his chief investment officer and son respectively. Soros believes that individuals can rise against known evils in the society and help their fellow human beings.

George Soros was born in the Eastern Europe nation, Hungary, and experienced first-hand the cruelty of unchecked governments. His country was taken over by the Nazis, and his father had to procure false identities so that they could survive the war. When Soros got a chance to move to London, he enrolled into the London School of Economics where he met a don who mentored him. Professor Karl Popper introduced George Soros to the philosophy of open governments.

In as much as many individuals choose to misunderstand George Soros’ generosity, the entrepreneur is undeterred in his quest to ensure that more people benefit from his organization. Soros believes that one of the ways through which the society can achieve its goals is by providing quality education to its youth.

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