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George Soros’ Philanthropic work through Open Society Foundation

18
Nov,2017

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George Soros is an American-Hungarian investor and one of the most famous and foremost philanthropists. He was born on August 1930 in Budapest. He lived through the 1944-1945 Nazi occupation. During which over 500,000 Jews were killed. He left Hungary for London in 1947 and worked as a part-time nightclub waiter and a railway doorkeeper to put himself through school. He went to the London School of Economics. Here he graduated with Bachelor’s Degree and later a Master’s Degree in Philanthropy. He left for the US in 1956 and settled in New York where he entered the world of investment finance, and it is through this that he got the capital to establish his own hedge fund, the Soros Fund Management in 1970. This made him one of the most successful investors in history. In 1992, he made 1 billion dollars on a bet against the British Pound and was nicknamed “the man who broke the Bank of England.”

He started his philanthropic work in 1979 when he sponsored black South African students to enable them to attend university during the apartheid period in the country. He also used his wealth to form the Open Society Foundations which is a web of organizations and programs in over 100 countries. He formed this organization to fight for democratic governance, freedom of expression and respect for human rights. After the fall of the Berlin Wall, he founded the Central European University as a safe haven to foster critical thinking in the Soviet states. He played a major role in helping the Soviet state open up to the world through financing students to attend western Universities in order to foster cultural diversity.

In 2017, the billionaire donated 18 billion dollars to the Open Society Foundation from his personal fortune which was ranked at 23 billion dollars by Forbes. This money is to be used for future Philanthropic activities of the organization and will change the way the organization carries out these activities. The Open Society Foundation has funded numerous programs around the world including refugee relief programs, immigrant rights groups, and public health effort programs.

Over the years, Soros has funded and supported paralegals and lawyers who represent unlawfully incarcerated individuals and has provided school fees to thousands of students from marginalized and impoverished communities through scholarships and grants. The Foundation spends about 900 million dollars per year on grants, visa, and education financing programs. He has also taken part in funding independent groups and organizations such as Institute for New Economic Thinking, The European Council of Foreign Relations, Global Witness, and the International Crisis Group. The organization is thought to have carried out the most philanthropic activities around the world this is according to the President of the Ford Foundation, Darren Walker.

According to NY Times, George Soros has continued to support the Open Society Foundation and has been donating over 800 million dollars per year, with the organization carrying out philanthropic work in over 120 countries for a period of 30 years. He is one of the major Democratic campaign donors financing numerous Democratic political candidates one of the many candidates being Hillary Clinton. and Follow him Twitter.com