George Soros Redefines the Concept of Wealth Through $18 billion Donation

Philanthropy has become part of the daily lives billionaires around the world. Among the most noted philanthropists is Hungarian-American George Soros. He dedicated much of his funds to philanthropy, helping different people around the world. He has been able to help organizations and individuals agitating for transparency, accountable governments, freedom of expression, justice and equality. In other words, his donations support the people who are looked down upon for who they are. He launched Soros Fund Management, a hedge fund that grew rapidly to become successful in the history of the USA.

Open Society Foundation

This is a network of foundations, partners, and projects that has its operations in 120 countries around the world. George Soros established this foundation in 1980 back in his native land, Hungary. The foundation’s primary role was to support various causes, among them democratic governance and human rights. Open Society Foundation has of late focused its attention in the United States of America. Soros decided to name this foundation ‘Open Society simply because he wanted to promote the idea of political transparency. Soros had charitable operations in South Africa during the apartheid where he provided black South Africans with scholarships to further their education. He also provided photocopiers in Eastern Europe to aide in photocopying banned texts by communists.

Read: http://www.foxnews.com/world/2017/10/18/george-soros-transfers-18-billion-to-his-liberal-philanthropic-foundation.html

Making $18 billion Donation

George Soros, 87, made one of the largest donations that totaled up to $18 billion to Open Society Foundation. This is the largest donation made by a private donor to one foundation. This donation has made Open Society Foundation the second largest Philanthropic organization in the United States, with Bill and Melinda Gates Foundation taking the lead. Open Society Foundation is credited with funding the treatment of the 2014 Ebola outbreak and stepping g up the efforts to protect US citizens who face what it termed as a national wave of hate incidents after the 2016 polls. The foundation supports center for Roma art and culture. According to an article Published by the Release Fact, George Soros’ annual donation to the organization ranges between $800 million and $900 million in several decades. Read more about George at The New York Times.

Through this $18 billion donation, Soros has enabled Open Society to operate in Asian countries like Thailand, Nepal, Mongolia, and India. In Nepal, Open Society Foundation has pressured the government in ensuring prosecutions for sexual assaults and compensation for victims. The foundation works with local staff to ensure that democratic and human rights are not violated. In Mongolia, the foundation helps in ensuring disabled children access education.

Who is George Soros?

George Soros is a Businessman, investor, author, and philanthropist who was born on 12 August 1930 in Hungary. He ranks among 30 richest people in the world with a net worth of $25.2 billion. Soros survived the Nazi era and immigrated to London in 1947. He is a graduate of London School of Economics where he graduated with a Bachelor’s degree and a master’s degree in philosophy. George has gone beyond his foundations to support other independent organizations like the European Council on Foreign Relations, the International Crisis Group, Global Witness as well as the Institute for New Economic Thinking. A unique aspect throughout Soros’ philanthropy work is the commitment to fight the most intractable problems of the world. Learn more about his profile at businessinsider.com.

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