George Soros recently took a huge turn that generated a lot of buzz and impact around his close as well as far circles. Even his position among the world’s top wealthiest; talking about the billionaire Soros’ donation of $18 billion from his business, Soros Fund Management firm to Open Society Foundation, his philanthropic organization. This turn out of events mapped the Open Society Foundation as the second largest charitable organization globally, after the Bill Gates’ organization.
Following the donation, Soros personal net worth dropped, according to Forbes Magazine. Before the $18 billion transfer was made, George Soros had a total of $23 billion personal fortune. And this had placed him as the 20th wealthiest individual across United States of America as well as among the top Forbes 400 list.
After the donation, necessary adjustments were made, and the results showed that George Soros’ fortune had dropped to about $8 billion, consequently, driving him to position 59 wealthiest in the U.S. which is a drop of 39 positions down the top wealthiest in America as reported by the Wall Street Journal.
According to Chief Communications Officer at Open Society Foundation, Laura Silber, he confirmed that Mr. Soros had indeed made a transfer of assets worth $18 billion to the organization. He mentioned that the transfer was not instantaneous. Instead, Soros made it over several years, and they all now amount to $18 billion.
Laura added that the donations would not affect the operations of the charity and they will continue to push and fight for justice around the world, and read full article.
Open Society Foundation has been in forefront funding various human rights initiatives around the globe including helping the refugees with relief aid, boosting health programs and making sure that immigrants’ rights are upheld.
George Soros has of late been much attention to his philanthropic activities and leaving out the hedge fund ventures that made him among the top wealthiest. Soros wasn’t born with a silver spoon in his mouth. His Jewish family lived in Hungary and faced a lot of challenges just like any other low-income family.
At almost 11 years old, George Soros and his family experienced something that would later form the foundation of his philanthropy, the Nazis operations. He witnessed human rights abuse but luckily, together with his family, they survived.
Soros came to England in 1947 where he joined London School of Economics while working as railway ported and a waiter. And after graduating, Soros signed up as the merchant banker in several banks across London. But later left for New York where he continued his financial career and eventually launching his hedge fund management firm.
Ever since, Mr. Soros has been a liberal person, and has accepted the responsibility of watching over the rights of those he calls ‘the voiceless.’ This is the main reason he started Open Society Foundation. Soros has been able to boost political revolution by supporting candidates who exhibit good leadership qualities backed by sound agendas and initiatives, and https://www.cnbc.com/2017/10/17/philanthropist-george-soros-donates-most-of-his-net-worth-to-charity.html.
According to the official website of Open Society Foundation, George Soros has joined hands with other like-minded organizations such as Global Witness, the Institute for New Economic Thinking among others. Even at his 80s, Soros continue to support the organizations’ efforts, and Twitter.com.