George Soros: From a Humble Beginning to a Billionaire and Philanthropist

George Soros, the well-known hedge fund manager and billionaire, is admired by the people for his philanthropic contributions and his political and social activism that are aimed to create a community that is driven by equality. He disapproves any type of discrimination and fights against all the odds in the society. Interestingly, Soros has set up open society foundations across the world which carries the message of everyone expressing their opinion without any bias and creating a community of equals. He is a staunch critic of President Donald Trump and his divisive policies. Soros fears that the closed market policies of Trump and hatred speeches and actions towards ethnic minorities can cause significant consequences in future. Read more about George’s life story at biography.com.

Soros had a humble beginning and born in Hungary as the son of non-practicing Jews in 1930. He and his family escaped the Holocaust and relocated to England, where he enrolled at London School of Economics. During that time, Soros started reading the books Karl Popper, the Viennese-born philosopher, whom Soros describe as his “spiritual mentor.” Through Pooper’s works, Soros came to know about open societies which became a major thought for his activism for the rest of his life. An open society formulates universal principles, looking for the welfare of every human being, and rejecting any “closed societies.” Soros started his career with a London-based brokerage firm called Singer and Friedlander. Later, he relocated to New York and began working as a stock trader on Wall Street. In the year 1969, he established Double Eagle Fund with a capital of $4 million. Read his profile at Forbes.

After four years, Soros established Soros Fund Management, and it grew consistently in the market and reached $1 billion value by 1985. Ever since he tasted his success in his ventures, Soros was very keen on charitable contributions and his open society foundations. It is surprising to know that he was spending as many as $300 million a year for various philanthropic activities by 1993. In the initial years, George Soros gave more importance to Central Asia and Eastern Europe. His open society foundations have a foothold in at least 70 countries as of today.

Soros was influential to a number of organizations which shaped the societies around the world. He played a crucial role in the democratic processing in Eastern Europe and contributed to the education, healthcare, and support for children from financially disadvantaged backgrounds in U.S. and around the world. Currently, he has a fortune of $25.2 billion, and his Soros Fund Management has assets more than $30 billion. The charitable contributions of Soros amount to more than $13 billion until the day. He earned most of his fortunes through risky currency trade business, and he invests in all the major financial markets around the world.