George Soros is renowned for being a highly charitable individual who has been listed among the world’s most generous individuals. He is also a wealthy person and has gained his fortune from the hedge fund industry. Most of the donations that the liberal billionaire gives are dedicated to supporting democracy and human rights. Soros recently increased his contributions to charity by giving the Open Societies Foundation $18 billion. This act has made the organization to be ranked as the United States’ largest philanthropic foundation. The Bill and Melinda Gates Foundation is the world’s top charitable institution, and it supports communities across the globe. George Soros’ $18 billion contribution is among the most significant single donations that have ever been offered by one individual. The philanthropist has been running the Open Societies Foundation since the 1980s, and he is its current chairperson. It currently has offices in over 120 nations where it supports human rights. In the United States, the organization has strived to advocate for gay rights and also end police brutality.
The world acknowledges the Open Society Foundations for its commitment toward transforming the lives of minority groups. In 2014, there was a major Ebola outbreak, and the organization gave money to develop treatment centers. Soros also offered $10 million to help in controlling hate that was spreading after the 2016 presidential elections. The billionaire has been a significant player in the United States political scene. In 2015 and 2016, he donated towards various PACs that campaigned for the Hillary Clinton. A couple of Democratic politicians have also benefited from his contributions. The political stands that Soros takes have made him be criticized by Republican Party members. The Open Societies Foundation’s operations in the United States have increased since President Trump took over the country’s leadership. Trump’s administration has been oppressing minorities including immigrants.
The early life of George Soros significantly motivated him to be a philanthropist. He spent his childhood in Hungary during a time when the Nazi people were discriminating the Jews. Thousands of Jews died during the harsh Nazi Occupation. Soros acquired a finance degree from the London School of Economics before moving to Wall Street where he kicked off his profession as a hedge fund manager. In 1992, he was involved in a currency speculation deal and earned $1 billion. The billionaire sold the currency rapidly hence motivating its devaluation. His wealth has made it possible for him to fight for human rights. He opened the first offices of the Open Societies Foundation in Hungary. Know more on cnbc.com about George Soros.
In the past decade, George Soros has been offering about $800 to $900 million per annum to support the activities of the Open Societies Foundation. The charity work of the organization will now benefit more people since he has offered it an extra $18 billion. The philanthropist has also pledged to give $2 billion to his foundation in the next few years. The Open Societies Foundation’s work benefits people from all continents, and therefore, it is appreciated for the significance of its impact. Its finances are controlled by Soros Fund Management.