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The Generous Philanthropy Of George Soros Regarding The Open Society Foundation

Most people are familiar with the name George Soros. He has built a reputation as a major donor in Democratic politics, and as a successful hedge fund manager. He has recently made one of the largest private donations in history to the Open Society Foundations. The $18 billion gift has been made throughout the last few years but was kept quiet until recently. His donation has made Open Society the United States second largest philanthropic organization, the largest being the Bill and Melinda Gates Foundation. This has also placed George Soros at the center of political social debates across the country.

George Soros founded the Open Society more than three decades ago, and the foundation promotes human rights democracy in over 120 countries. More recently, Open Society has begun focusing on the United States with programs protecting lesbians and gays from police abuse. In 2014 the organization aided centers treating Ebola, and protected the people of the United States from a wave of hate incidents occurring after the election of 2016. This led to a commitment of $10 million by George Soros to prevent the violence.

George Soros has been politically active, and his large donations to Democratic politicians have targeted him for criticism from the Republicans. The Vice President of Open Society is Patrick Gaspard, and he is scheduled to become President towards the years end. He stated the foundation had a new sense of urgency due to Donald Trump’s election as President.

George Soros knows what it’s like to live in a Nazi-occupied Hungary as a child. While Budapest was still controlled by communist rule in 1947, he left the country. He went to London, eventually finding success on Wall Street in the United States. He made $1 billion in 1992 when he made a bet against the British pound. His actions caused the government to devalue the pound.

George Soros became involved with human rights and democracy as his fortune increased. In 1984 he established the first location of the Open Society in Hungary. He became a substantial donor for the Democrats, gave millions to super PAC’s, opposed Donald Trump’s campaign, and bet he would lose the election. He funds Open Society with annual donations, and has increased his personal donations. According to the Wall Street Journal, the foundation receives $18 billion in endowments each year. The expectations are George Soros will contribute roughly $2 billion over the next few years. Since Open Society is already spending an annual amount of $900 million for their grants and programs, this amount is not expected to increase.

The fortune of George Soros is going to stay in familiar hands. Soros Fund Management already handles the personal fortune of the billionaire, and will additionally oversee the endowment’s investments for Open Society. George Soros still finds the time to remain involved in the work of the foundation. He has additionally had to deal with attacks coming from the prime minister of Hungary who was not pleased with one of the universities the Open Foundation chose to fund in Hungary.