A history making philanthropist
The name George Soros is synonymous with wealth, and philanthropy. A self made billionaire, Mr. Soros has risen to the top of the philanthropic community by donating billions to worthy causes. George Soros was born in Budapest in 1930, and he has become one of the most successful financiers in world history. He is a large donor to the Democratic part, having donated millions to the Hillary Clinton campaign during the last election. He gifted the PAC group with a million dollar donation. This was a group of supporters who opposed Donald Trump. His major attribute was the establishment of his Open Society Foundation.
Funding to Open Societies
Mr. Soros is the legendary hedge fund manager who has managed money for clients in New York for more than forty years. He has gifted $18 billion to his Open Society Foundation. This is one of the largest donations to a single foundation by a private donor. Mr. Soros established Open Society in 1979 as a way of pursuing his ambition of an alternative form of government, one that differentiated from the authoritarian form. Open Society recognizes that people have an imperfect understanding of the world, and that the imperfection could be improved. The first objective was to support scholarships for black students to South Africa’s University of Cape Town. Mr . Soros believed that his financial market success allowed him to take a stand on issues of controversy that others could not. His gifts to Open Society were made discreetly over several years, but the amounts were disclosed recently.
Open Societies promote democracies and human rights in more than one hundred twenty countries. It has recently increased the focus on the United States with programs designed to protect lesbians, gays, and to decrease abuse by law enforcement officers. Mr. Soros also committed himself to donating $10 million to the prevention of the wave of national hate crimes that seemed to have increased since the last election. His generous donations have transformed Open Society into one of the largest philanthropic organizations in the United States, and have placed him at the center of political and social debates plaguing the country at present. Soros reportedly donated the largest amount ever to one organization. He gifted $18 billion of the family’s net worth to his organization, the Open Society Foundation.
Donation knocks down net worth
George Soros had previously been listed as number twenty on the Forbes 400 list. With the donation of 18 billion to Open Society, the amount of his net worth was drastically lessened. He went from a reported $26 billion net worth to an $8 billion net worth. This donation placed in at number fifty nine on the Forbes list. This was a drop of thirty nine places. This large donation amount will not change the way the family foundation functions in any way. The Open Society Foundation has funded programs world wide that include public health, and refugee relief, and learn more about George Soros.