George Soros Gives Away $18 Billion in Donations to Open Society Foundations

George Soros, a frequent Democratic donor and billionaire hedge fund manager, contributed $18 billion to Open Society Foundations. This donation made history as one of the biggest wealth transfers to a single organization by a private donor. Soros donated several years ago. However, the public learned about the deal a few weeks ago. Open Society Foundations currently ranks at number two with respect to the biggest philanthropic organizations in the US. Bill and Melinda Gates Foundation holds the first position.

Open Society Foundations began operating over three decades ago after being founded by George Soros. Its mission is to foster human rights and democracy in over 120 nations that it has satellite offices. The philanthropic organization gained critical acclaim in the US for its investment interests in protecting lesbians and gays. It was also criticized for its efforts to minimize police brutality cases.

For the past two decades, Open Society Foundations made a lot of impact in the world. The philanthropic organization donates over $800 million yearly. George Soros helped to steer Open Society’s endowments to $18 billion after donating part of his net-worth to the foundation. He is also set to donate $2 billion in the near future in support of Open Society. As of 2017, his total donations to the foundation amount to $32 billion, and more information click here.

In 2014, Open Society Foundations donated to treatment centers focused on curbing Ebola outbreak. The organization is also in the process of protecting U.S. citizens from nationwide hate incidents after the 2016 elections. George Soros pledged $10 million to Open Society’s efforts in ending the hate incidents, and http://www.forbes.com/profile/george-soros/.

 

Soros as a Democratic Party Donor

George Soros has been in the limelight for his support for Democratic Party candidates. His most notable support was during Hilary Clinton’s presidential campaign. Republicans criticized him for his enormous contributions. According to the National Philanthropic Trust’s CEO, Eileen Heisman, Soros has a clear viewpoint when he is making donations. Heisman also believes that Soros is trying to make a big statement judging by the current economic situation of the US.

Political Action Committees that were against President Donald Trump during the 2016 elections also received financial support from George Soros. It cost Soros about $1 billion to bet on the market that President Trump was going to lose the elections. However, Soros lost the bet after President Donald Trump won.

This article was published on the New York Times website.

 

About George Soros

As a prolific philanthropist, George Soros is the sole funder and founder of the Budapest based Central European University. The learning institution ranks among the leading study centers for social sciences. Under Soros’ strategic leadership, Open Society Foundations supports institutions and individuals advocating for accountable government and freedom of expression.

George Soros is from a Jewish family that migrated from Hungary during the 1944 Nazi occupation. He got the opportunity to study in the London School of Economics. Using the knowledge he acquired from the higher learning institution, he relocated to the US to pursue a career in finance and investments. He started Soros Fund Management that enabled him to earn a reputation for his brilliant investing strategies. Soros made his debut in the philanthropy world by providing scholarships to black South Africans affected by the apartheid era.