The term 'George Soros' is included in the Investments edition of the Financial Dictionary. Get your copy on Amazon in Kindle, Paperback or Audio edition. Choose your edition here...
George Soros is a Hungarian born multi billionaire investor and philanthropist. In his lifetime he has gone from escaped refugee from the Nazis to twenty-first richest man on earth. Besides making billions of dollars through the investments of the hedge fund he started and still manages, he has contributed generously to various charities throughout the world via his foundation. Soros is considered to be a controversial figure for some of the investments he has undertaken and positions he holds on various global issues.
George Soros was born in Budapest the capital of Hungary in 1930. In the middle of the 1940’s, he fled from the Nazis to England where he studied at the famed London School of Economics. After graduating from there in 1952, he sailed to New York in 1956 to begin working for F.M. Mayer, a brokerage firm on Wall Street. He worked for several other firms before starting his own hedge fund that he originally called the Soros Fund in 1973.
He soon renamed this the Quantum Fund and afterwards again the Quantum Fund Endowment. Investors contributed $12 million to this fund that achieved enormous success. With Soros leading the company, it made countless billions for both its investors and Soros himself.
Thanks to this success of this fund and successor fund ventures, Soros showed a net worth amounting to $26 billion as of September 2015 when he was 85 years old. This wealth was high enough to secure for him the spot of twenty-first richest person on earth.
The investment decisions and statements of George Soros have made him a controversial figure over the years. He took on the Bank of England in 1992 in the Black Wednesday U.K. currency crisis and beat it, costing Great Britain billions of dollars. His involvement made the crash so much worse but made he and his investors over a billion dollars in a single day.
He has also authored a number of books on the imminent collapse of worldwide financial markets. Some critics have complained that he manipulated markets to achieve his aims. Soros also criticizes U.S. and Israeli policies and blames them for worldwide anti-Semitism. Besides this, Soros has attacked the U.S. criminalization of drugs.
On the philanthropic scene, George Soros has been extremely generous and is a leading global figure. He began giving back from his enormous wealth in 1979. By 1984 he had created his Open Society Foundations charitable fund. These foundations fund initiatives on a global scale with the goal of advancing justice, independent media, business development, education, and public health. His foundations boast an activity list that is 500 pages long. Among their work is loaning money to help the Russian university system and setting up New York City after school activities. He has funded the arts and helped places that have suffered from natural disasters. The foundations have also tried to stem the brain drain from Eastern Europe while fighting disease around the world.
Observers either love or dislike George Soros. No one can deny that he is a towering figure in the worlds of currency, finance, and philanthropy. His organizations help to shape public policies and perform enormous humanitarian projects. The author of 12 books has penned works on topics that range from global capitalism to the war on terror. As the head of the Soros Family Fund nowadays, the legendary investor can still move markets with his opinions and positions on markets.