George Soros is acknowledged as the proprietor and head of the second-largest philanthropy in the world. He is among the United States’ wealthiest individuals and recently gave the Open Societies Foundation $18 billion to facilitate its operation. The billionaire is passionate about supporting charitable causes across the world. He founded the Open Societies Foundation in 1979 and had been making donations through the organization. The first philanthropic activity that Soros was involved in was the funding of black South Africans to join higher learning institutions. These individuals were oppressed by the apartheid rule, and they needed to be empowered for them to fight for their rights. George has always advocated for human rights, justice, and democracy in various parts of the world.Soros was listed by the Forbes Magazine as the 20th richest person in the United States before deciding to the give $18 billion to his charity organization. He was previously estimated to be worth about $23 billion.
The 87 years old businessman has impacted the lives of hundreds of thousands of people across the globe. He was raised in Hungary and then joined the London School of Economics. His family was less privileged, and this forced him to take a job at the railway and nightclub to get money to support himself while living in the United Kingdom. As from 1984 to 2016, the Open Societies Foundation received about $14 billion from George Soros. Soros Fund Management controls the funds of the organization, and it also helps in transferring money from the billionaire’s fortune to charity.The philanthropist makes most of his donations silently. He started Soros Fund Management in 1979 and has grown it to be one of the world’s leading hedge funds. Soros has accumulated his fortune from the company and has also benefited from currency speculation. He earned over $1.5 billion from Bank England. Soros Fund Management now operates as a family office and manages the businessman’s money.
The billionaire has been offering financial donations to the Democratic Party. He has supported the party’s politicians including Barack Obama and Hillary Clinton. He gave about $1 million to PACs that supported Barrack Obama in 2012 and also gave $10 million to Hillary’s campaigns in 2016. The Republican Party criticizes him for his political stand. The billionaire never agreed with the policies of George W. Bush when he was in power. He has also been criticizing President Trump.Most of the significant donations that the Open Societies Foundation has made are devoted to facilitating international charity causes. It runs offices in London, New York, Brussels, and Budapest. The organization operates in 140 different countries and has employed over 1,500 people to manage its activities. The annual budget of the body is about $940 million, and 28 percent is allocated to support human rights and democracy. The Open Societies Foundation distributes its resources through national and regional groups. George Soros’ past life has greatly motivated him to help the less privileged people across the world. He believes in equality.