The hedge fund investor George Soros has gifted a majority of his fortune to the Open Society Foundations. According to reports by the Wall Street Journal, the billionaire has transferred the wealth over time to a tune of $18 billion. According to media reports, this gift has thrown the Open Society Foundations into the limelight as one of the largest non-profit in the United States.
The Open Society Foundations controls much of Soros fortune, but the recent transfer has proved that the business leader wants to leave all his wealth under the grant-making organization. OSF undertakes a lot of charity work inside and outside the United States. The group has in the recent years moved in to protect minority groups from injustices perpetrated on them by the authorities.
In the recent years, George Soros has increased the rate at which he transfers his assets to the Open Society Foundations. This development is in line with his promise to leave all his fortune under the care of the charity, and read full article.
Since it was founded, the Open Society Foundations has gifted the non-profit sector over $12 billion according to the official data on its website. The organization has a presence in different nations across the globe and works to ensure that democracy is nurtured all over the world, and http://fortune.com/2017/10/17/george-soros-open-society-18-billion/.
The Hungarian-born investment mogul bounced into the limelight in 1992 when he risked over $10 billion in a wager against the British Pound. The bet was successful, and he made a fortune out of it. As far as the American politics are concerned, the business leader has not been left behind. He is known to be a prominent proponent of liberal courses. In the past, he has supported various Democratic Party candidates to take up legislative seats. In 2016, George Soros gave mostly to the fundraiser of Super PAC group that was helping Secretary Hillary Clinton clinch the presidential seat.
Early this year, George Soros made changes at his hedge fund by appointing an executive from UBS Group, Dawn Fitzpatrick to manage his investment vehicle, Soros Fund Management. The hedge fund is also the custodian of the Open Society resources.
The Open Society Foundations has toppled many non-profit organizations to become the second largest grant-making group in the United States. The philosophy of transparent, accountable and just governments has always guided the operations of the foundation. These values were imparted to George Soros while he was studying at the London School of Economics. While at LSE, he got a rare opportunity to be guided by one of his mentors, a philosophy don called Karl Popper. Soros has stuck by these virtues and has taken a lead role in ensuring that democracy thrives everywhere across the globe, and Soros’s lacrosse camp.
In as much as the billionaire gets unfair criticism on the internet, he maintains his will to do good and leave the world better than he found it, and follow his Twitter.