George Soros gives $18 billion to Support his Charity Work.

George Soros is currently recognized as one of the world’s most charitable people. He is a wealthy former hedge fund manager and has donated billions of dollars to support democracy. Soros recently decided to transfer $18 billion to support the activities of the Open Societies Foundation. This is a significant portion of his wealth and is also among the most significant donations that have been made one individual to a foundation. The transfer has been made quietly over the past few years and has grown the Open Societies Foundation the second-largest charity organization in the world, after the Bill and Melina Gates Foundation. The Open Societies Foundation is headed by Mr. Soros who is also its founder. It has conducted charity work for the past three decades in more than 120 countries. The organization has dedicated itself to promoting human rights democracy. In the past few year, it has shifted its attention to the United States and has invested in campaigning against police abuse and protecting gays and lesbians.

The charity organization is appreciated for its several good deeds. In 2014, it donated money to support treatment centers during an Ebola outbreak and the development of a Roma art and culture center. George Soros also gave $10 million to prevent violence in the United States after the 2016 elections. The billionaire has also focused on political undertakings. He was among Hilary Clinton’s main donors during her presidential election campaigns and has supported other Democratic Party politicians. This has made him be criticized by many Republicans. The Open Societies Foundation’s VP, Patrick Gaspard, said that the organization had had a new sense of urgency since Donald Trump was elected as the U.S president.

The philanthropic activities of Mr. Soros have been inspired by his past. During his childhood, he lived in Hungary, which is a Nazi-occupied country. He even experienced the Nazi Occupation violence first-hand before moving to London in 1947 to study. George Soros has had a successful career on Wall Street for the past four decades. In 1992, the philanthropist gained over $1 billion from a bet that he had made against the British pound. His aggressive selling of pound caused the government to devalue the currency. As Soros became wealthy, he started promoting organizations that supported democracy and human rights and created the first division of the Open Societies Foundation in Hungary and George Soros’s lacrosse camp.

The Open Societies Foundation has been giving approximately $800 million to $900 million to charity work every year. The organization plans to increase its donations after receiving $18 billion from Mr. Soros. The billionaire is expected to give an extra $2 billion in the next couple of years. The impacts that the Open Societies Foundation has had to the world in the past two decades is unparalleled. Its charity work has assisted in transforming every part of the globe. George Soros’ wealth is controlled by Soros Fund Management, which is the organization that is in charge of the Open Society Foundation’s charity investments. The billionaire has always been transparent on his views.

Other Reference: https://www.cnbc.com/2017/10/17/philanthropist-george-soros-donates-most-of-his-net-worth-to-charity.html

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