George Soros is a Hungarian-born businessman, investor, and philanthropist based in New York. For more than 30 years, he has been a vocally active supporter of liberal and democratic causes, through the Open Society Foundations. Through this organization, he advocates for the establishment of open societies globally. According to George Soros, an open society is one that is characterized by democratic governments, transparency, and accountability.
Personal Life and Professional Background
George Soros and his family left Hungary in 1947 headed for the United Kingdom. Here, he financed his college education at the London School of Economics by working as a waiter and railway porter. He holds a Bachelor’s degree and Masters’ in Philosophy from the LSE. While at the LSE, George Soros was exposed to the political ideals of Karl Popper in the book “The Open Society and Its Enemies.” This is what motivated him to establish the Open Society Foundations in 1979.
He began his career in international arbitrage working for Singer and Friedlander, a brokerage firm in London. George Soros relocated to the U.S in 1958 and started working on Wall Street as a stock broker.
In 1969, he founded Double Eagle, presently known as Quantum Fund. This was his first venture into hedge fund management, and the profits earned allowed him to set up a second hedge fund known as Soros Fund Management. This hedge fund currently has assets valued at $30 billion under its management. In 2017, he appointed Wall Street veteran, Dawn Fitzpatrick as the Chief Investment Officer, in charge of the investment portfolio of Soros Fund Management. Visit cnbc.com to know more about George Soros.
Political Attachment and Philanthropic Activities
George Soros is an active donor to political causes, primarily Democratic causes. Since the formation of the Open Society Foundations, he has spent over $13 billion as political and social donations for supporting human rights, health, democracy, and education globally.
He played a major part in Eastern Europe’s peaceful conversion from communism to capitalism by funding cultural exchanges between Eastern Europe and the Western world. George Soros was also influenced by psychedelic drug expert Allen Ginsberg, in his efforts to bring about the legalization of marijuana in 2000.
Over the years, George Soros has actively contributed to the election campaigns of well-known Democrats such as Barack Obama, Bill and Hillary Clinton, as well as Joe Biden. In 2004, he donated almost $27 million in the efforts to oust President George W. Bush and in 2016, pledged $25 million to Democratic presidential candidate Hillary Clinton.
He is a strong critic of President Donald Trump because he forwards that his stand on immigration reform, religious tolerance, and criminal justice matters are too extreme. George Soros has supported Democratic political action committees such as Immigrant Voters Win, Senate Majority PAC, Priorities USA Action, America Votes, among others.
He is played a role in the formation of the Democratic Alliance in 2005. This is a private club of Liberal and Democratic donors who sought to combat the influence of big money in politics.
Read more: http://www.forbes.com/profile/george-soros/