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George is a Hungarian American born in August 1930 in Budapest. He is a survivor of the Nazi Germany after which he left for England in 1947. His family was used to conflict and controversy during Nazi, and it was imperative to get means of survival otherwise death would be imminent.
Soros learned his business and financial skills from his Russian mother who was from a family that was business oriented owning a silk shop. Soros was also a witness of social injustices given that his father was imprisoned before and after the World War 1. George’s desire and support for democracy emanates from the experiences he would have had and seen throughout his life.
George pursued his undergraduate degree from London School of Economics and later on attained a master’s degree in Philosophy. George is a successful businessman and is among the thirty richest people in the world having a net worth of 25.4 billion as of May 2017. He is an investor, philanthropist, and author. Learn more on Discover the Networks about George Soros.
George Soros Career Journey
Following his graduation in business and economics, it became challenging for him to secure employment since racism was still rampant then. He sent many application letters with no positive response. However, the game changer for him was when he received positive feedback from Singer and Friedlander Company. The primary reason for getting a position was because the managing director was a Hungarian. He started working at the entry level as a clerk. Nonetheless, he did not remain at the basic but grew to work in the arbitrage department before moving to the New York when his fortunes would unfold, and in time Soros would realize a total transformation of his life.
Soros Fund Management
On moving to New York, Soros started by working in Wall Street before the establishment of his own hedge fund with $12 in 1969. The primary reason that he managed to make such progress was his resilience, focus, hard work, and determination.
Later, he re-branded it to Quantum fund. Notably, it was in 1992 that he was able to make another great milestone with combined efforts with Stan Druckenmiller that they shorted the British pound making abnormal profits. It was after that George started being referred to as the man who broke the bank of England because of the financial breakthrough he realized.
Soros Fund management is his family office which has $30 billion value of assets. This year, George hired Dawn Fitzpatrick, a prominent woman from Wall Street so that she can run the investment portfolio of the Soros Fund management. Learn more about his profile at businessinsider.com
George Soros, the philanthropist
In 2009, he gave $35 million to parents in New York possessing benefit cards and needy children as well. The lives of these beneficiaries were transformed significantly. George Soros constantly gives money to humanitarian activities and needy people in New York.
Soros took his investment skills and established Soros Fund Management. This company runs Quantum Group of Funds which speculatively invest in stocks, commodities, and foreign exchange. This company has made Soros his billions. His net worth is estimated at nearly 25 billion dollars.
This 85-year-old investment guru has written books to share his amazing experiences. Among the most popular ones is the “Alchemy of Finance.” What’s more, he wrote another well-known book, “Underwriting Democracy,” expressing his interests in politics.
But investing and writing isn’t all what Soros is about. He also has founded an Open Society Foundation. This organization operates in multiple countries and its primary objectives include building tolerant democracies and government accountability. This organization works for greater tolerance of transgender individuals, refugees, and Roma people among others.
The recent refugee crisis has taken attention of George Soros. He states that Europe should accept a million Middle-Eastern and African refugees per year for foreseeable future and to support them financially. This has drawn much criticism from some politicians.
According to Soros, the burden of accepting refugees should be spread among various members of the European Union. This has brought criticism from Hungary, a place where Soros was born and left at the age of seven. Victor Orban, a Hungarian leader, publicly blamed Soros for causing a refugee crisis.
Soros made an announcement detailing how Europe should rebuild its asylum system. He blamed the European Union for a lack of common asylum policy and not doing enough to help the Syrian and other refugees. His plan calls for Europe and other countries to spend many billions of dollars per year on refugee aid.
As the refugee crisis intensifies, Soros and his organizations will likely push for their vision of how Europe should be and act.