George Soros is a prominent Hungarian-American hedge fund manager and business magnate. Many consider him to be the world’s most successful investor with an uncanny talent for spotting promising ventures. By February of this year, Soros’ net worth was estimated at a staggering 25.2 billion dollars.
He is also one of the most prolific philanthropists in the world, donating more than 10 billion dollars between 1979 and 2011. He is well known for supporting liberal and progressive political causes through his charity, the Open Society Foundations.
Early Life and Career
A biography recently profiled George Soros and indicated that the legendary businessman was born in 1930 in Budapest, Hungary. He experienced and survived the political upheavals caused by the Nazi occupation of Hungary, as well as Communist rule. Soros immigrated to London in 1947.
While there, he studied at the London School of Economics where he received a Bachelor’s degree in Economics. Soros then went back to school in 1951 to earn both a Bachelor’s and Master of Science degree in Philosophy. It was at this point that he began studying the works of Karl Popper, who would play a crucial role in Soros’ future success.
After his graduation, he approached every merchant banker in London for a job. He was largely unsuccessful but eventually managed to secure an entry-level position at the merchant bank 1954.
By 1956, Soros had set sail to New York to work at a number of Wall Street firms. These included F.M Mayer, Wertheim & Co., and Arnhold and S. B Schroeder. He specialized in trading stocks and securities in the European markets. However, by 1966, George Soros was ready to build his own business.
Soros Fund Management
Soros began experimenting with various trading strategies in 1966. This led to the establishment of Double Edge hedge fund in 1969. For this venture, Soros invested 250,000 dollars of his own money and raised a further four million dollars in investor capital. This firm had its headquarters in Dutch Antilles.
By 1973, the double edge had about 12 million dollars in assets. This formed that basis for Soros Fund Management, with Soros serving as its Chairman. The firm’s name was lawyer changed to Quantum Fund. Despite its various iterations, the hedge fund achieved enormous success with Soros at the helm. By 2015 George Soros was included among the top 30 richest people in the world. Learn more about his profile at Forbes.com.
In 1979, George Soros founded the Open Society Foundation to fund a broad range of initiatives around the world. These include programs to advance education, health, justice independent media, and business ventures. Through this Foundation, Soros has funded aid efforts during natural disasters, the University system in Russia, and the arts among many, many others.
George Soros is also a tireless campaigner for the respect of individual rights. After experiencing discrimination in Nazi Hungary first Hans, Soros is an ardent proponent of transparency, governmental accountability, freedom of expression, and equality. He has supported black South Africans under apartheid, the Roma people, and LQBTQ people, among other disadvantaged groups.