George Soros Transforms Open Society Foundations into Top-Funded Charity with $18 Billion Donation

George Soros has faced oppression, and even the threat of extermination, in a very personal way. According to his biography on Open Society Foundations’ website, Mr. Soros was born into a Jewish family. He and his family were in Hungary during the Nazi occupation, when over 500,000 Jews of Hungary were murdered. Only by securing false identification did his loved ones survive. He left home behind as Communism began its rise, and headed to London. After working to put himself through school at the London School of Economics, he entered the world of investments in the United States.

George Soros launched his hedge fund, Soros Fund Management, in 1970. Success followed, most famously in currency speculation, where he earned himself the title “The Man Who Broken the Bank of England”, according to a New York Times article by David Gelles titled “George Soros Transfers Billions to Open Society Foundations”. Mr. Soros quickly earned himself a great fortune with his hedge fund.

Through all his schooling and work, he never forgot the tyranny that took his sense of safety in Hungary. As such, he acted, supported by his wealth.

It started with scholarship donations to South Africans under apartheid. After more philanthropy, donations, and work, Mr. Soros became a man known for supporting progressive causes Democratic candidates, but his greatest claim to fame is the charity he founded. Using his personal fortune, Mr. Soros started the Open Society Foundations. What the Open Society became was a network spreading across many countries dedicated to accountable government, freedom of expression, and preservation of individual rights.

Over recent years, Mr. Soros began what would culminate into one of the biggest philanthropic donations to date. In 2011, Soros Fund Management saw a transformation from hedge fund to an office devoted to managing Mr. Soros’ fortune. After the change of focus, $18 billion of George Soros’ personal fortune – well over half his wealth – was slowly moved from Soros Fund Management to the Open Society Foundations network.

The move has catapulted the Open Society Foundations into the rungs of the biggest charities in the United States. According to aforementioned New York Times article by David Gelles, there is only a single U.S. charity bigger, the Bill Melinda Gates Foundation, and it also has a billionaire donor backing it.

With this newfound funding, Open Society does not intend to change its focus or donations, which itself has totaled to $14 billion to date. Such work as relief efforts, U.S. hate crime prevention, and creation of cultural centers for Europe’s Roma population – far from seeing the backburner – will be redoubled and pushed further. and more information click here

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