The Come Back of George Soros
George Soros is an 85-year-old Hungarian billionaire. He resides in New York and is known for investing in risky currency trades. The businessman also doubles up as an author and philanthropist. The billionaire is known for his political giving. In an article published by Politico, Soros who has been quiet for a while is now back. In 2004, George Soros was endorsing President George Bush and he spent $27 million. In the last U.S. election, Soros spent a little over $25 million in support of Hilary Clinton. Read his profile at Forbes.
George Soros has known Hilary Clinton for 25 years and was totally committed to supporting Clinton’s campaign. According to Soros, this election was more important to him. He felt that the opposing side would undermine reforms he had worked very hard to support. These reforms are namely; immigration reforms, religious tolerance, and criminal justice reform.
The billionaire showed tremendous support for Hilary and went to the extent of donating $7 million to a super PAC supporting Clinton. He also donated $3 million to Immigrant voters which he had originally committed to donating $5 million. George Soros political donation is also famously known. He donated $1.5 million to Senate Majority PAC. Apart from Political donations, George Soros continues to donate to non-profit organizations. It is estimated that to date, he has donated over $13 billion to these organizations.
George Soros’ Stand on Capitalism
In an article published by the Atlantic, George Soros lets people know his stand on capitalism. According to Soros, capitalism may be a threat to democracy in the society today. Having grown up in Hungary where they were subjected to Nazi rule, Soros is quite knowledgeable when it comes to both communism and capitalism. He has an inspiring story of rising from nothing to being among the richest men in the world today.
He gained great success in the financial market, and from that success, he was able to set up his own foundation which he called it Open Society Fund. He founded this fund in 1979 and the main agenda of the fund was to open up societies that are closed off and to make the societies that are open more viable. His first task was in South Africa. However, apartheid proved too hard to crack. So he turned his focus to Central Europe. Read more on NYTimes.com.
The foundation has become a success and he has been able to reach over 25 nations worldwide. George Soros addresses the issue of failing capitalism. According to him, now that communism is a thing of the past for many nations, instead of enjoying the new found freedom in capitalism, people in these former communist nations are now struggling to survive.