George Soros Donates Generously to the Open Society Foundations
If you’re unfamiliar with George Soros, he is the Hungarian-American investor who amassed considerable wealth in the hedge fund industry. In fact, the aptly named Soros Fund Management firm has been recognized as one of the most profitable firms in the hedge fund industry and according to Forbes boasts $26 billion in assets. In addition to his work in the hedge fund arena, Soros is also the founder of the Open Society Foundations, an organization predicated on fighting government oppression and authoritarian regimes. Since being established in 1979, the Open Society Foundations has been linked to a number of noble causes including the riots in Ferguson, Missouri.
As someone who lived through the Nazi Germany occupation of 1944 to 1945, George Soros is intimately familiar with government oppression and authoritarian regimes and has made it his mission to voice his disdain for such practices, which would ultimately lead to the creation of the Open Society Foundations in 1979. Although the organization was founded in 1979, their first celebrated act of humanitarianism didn’t come about until 1984, when the Open Society Foundations donated copy machines to various universities, civic group, and libraries in Hungary. According to a CNN article, the donations were intended to help break the grip on communication that once beset the people of Hungary.
Since their momentous achievement in Hungary, the Open Society Foundations has gone on to affect change in many parts of the world, including the United States. In an effort to broaden the breadth and scope of the organization, George Soros, according to a New York Times article, has donated $18 million of his personal fortune to the foundation, making it the second largest charitable organizations in the world. Although this is a tremendously generous donation, it is not surprising; according to nonprofitquarterly.org, an independent nonprofit news organization, Soros has made past donations, through the Open Society Foundations, totaling $8 billion to help promote human rights, democracy, and host of other causes.
Although George Soros’ generosity has pathed the way for considerable reform, it has also been met with criticism. Many publications have described his charitable efforts as a guise for forcing his liberal values on to others, suggesting that his charitable efforts are self-serving. These assertions are speculative at best and really hold no weight when compared to how the foundation has positively impacted numerous countries around the world. In fact, in 2017, the Open Society Foundations gave grants to seven regions around the world to help spur justice reform and human rights, as well as economic governance. These grants encompassed the organization’s 2017 budget of $940 million.
With a net worth reportedly in the neighborhood of $23 billion, Soros feels compelled to help foundations, and causes, that can benefit the most from his philanthropic generosity, which explains his decision to donate $10 million of his own money to help combat hate crimes, during the 2016 presidential race.
His Twitter Profile: https://twitter.com/georgesoros