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George Soros has become one of America’s most successful investors and political donors. It was recently announced that he is making a $18 billion dollar donation to the foundation he started, Open Society Foundations. His decision was in part to lessen a tax bill that he is being faced with this year, and also is part of his plan to leave most of his wealth with his foundation in the next few years or upon his death. Right now hedge fund managers like him must pay taxes on fees earned from offshore funds. Soros and others have found ways to reduce the cost, by making charitable contributions to foundations including their own. The tax break that was afforded to Soros and others was canceled by Congress in 2008. The $18 billion donation or transfer will take place over several years.
George Soros is the founder of the Soros Fund Management, which oversees George Soros’ massive wealth. The Open Society Foundation has become the second largest organization in terms of assets after receiving this transfer, putting it right behind the Bill and Melinda Gates Foundation. George Soros is the current chairman of the Open Society Foundation and has appointed three of his children as board members.
George Soros Hungarian born and managed to survive Nazi occupied Hungary, by securing fake papers and false identities. He fled the Communism takeover of Hungary and ended up in London. While in London, he attended the London School of Economics and worked as a railway porter to pay for his education. He eventually emigrated to the United States and became a successful investor on Wall Street. As an investor he became known as the man who broke the bank of London. Open Society Foundation with money from outsiders but later turned it into a family business, where he invested on behalf of the family and his Open Society Foundation.
George Soros has become one of the most well known Democratic donors in the country. He continues to financially support Democratic candidates and liberal causes. Soros was a key financial donor to Hillary Clinton’s 2016 presidential campaign. In 2016, Soros’ foundation was funding programs that protected minority groups including the Roma people and those in the LGBTQ community. Open Society Foundation has also been working on reducing police abuse. During the Ebola outbreak, Open Society Foundation funded several treatment centers in South Africa.
Despite his age, George Soros continues to be involved his foundation. George Soros has been contributing $800 million to $900 million each year to the Open Society Foundation. He’s expected to contributed another $2 billion in the next several years. George Soros and his foundation have had a strong impact on the entire world. The Open Society Foundation has been spending $900 million on grants and has said they will not be increasing their budget for grants. George Soros continues to help those who are being neglected all over the world. He even created a university in Budapest. Soros continues to grow his foundation and has made it even stronger.