A Look At George Soros’s Philanthropy

Forbes and New York Times reported in October 2017 that George Soros has been making installments over the past few years on an $18 billion donation to the Open Society Foundations. George Soros was born in 1930 in Budapest, Hungary. His father, a lawyer, insisted George be educated from a young age, overseeing much of the education himself. In 1947 the Soros family moved from Hungary to London, England. George Soros Enrolled in the London School of Economics and graduated from there with his bachelor’s degree.

He became a traveling salesman after graduating, unable to find work at a bank until 1954 when he was hired by Singer and Friedlander, a merchant bake based out of London. In 1956 Soros was hired by F.M. Mayer in New York City. He moved to New York and worked for F.M. Mayer as a specialist in trading European stocks. In 1959 Soros moved to another company, Wertheim & Co., this time working as an analyst of European Securities. 4 years later, Soros became the vice president of Arnhold and S. Bleichroeder. It was at this company that Soros founded the Double Eagle hedge fund and Soros Fund Management. Soros left Arnhold and S. Bleichroeder in 1973 and became the full-time chairman of Soros Fund Management.

Soros has long been a supporter of democracy and peace movements around the globe. He financially backed dissident groups operating behind the Iron Curtain and funded apartheid era students attending the University of Cape Town. Through his Open Society Foundations, Soros funds efforts throughout Central and Eastern Europe to end communism and peacefully install democratic governments. PBS estimated in 2003 that Soros had given a total of $4 billion to these efforts.

In 2009 Soros donated $35 million to New York with the stipulation that the money be used for underprivileged families and children. The state of New York added an additional $140 million, money it had received in 2009 from the Federal Recovery Act. Soros was one of the initial donors to Center for American Progress, an organization that is supported to this day through the Open Society Foundations.

In 2007 an article in Time Magazine applauded the philanthropic efforts of George Soros, especially his investment of $100 million into the construction of an internet infrastructure for Russian universities and his Millennium Promise which is an effort to educate and provide medical care to people in poor regions of Africa. George Soros’s generous $18 billion donations will be used to continually fund these efforts and efforts like them.

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