Throughout the History of philanthropy, there was never such a huge donation that was directed towards one organization. George Soros, however, went against the norm. He donated 18 billion dollars to his philanthropy firm, Open Society Foundations. This foundation was started with an open society in mind. It stands for human right, accountability, and democracy alongside justice in all the countries it serves. To date, they have benefited thousands of people through their programs. Having representation in various parts of the world has made them well known in the giving industry.
The donation, 18 billion dollars, that was transferred from the Soros Fund Management to the Open Society Foundations in support of the causes they stood for made it climb ranks and become among the big fish in the philanthropy industry. This came at a cost according to Forbes. George Soros dropped to number 59 on the List of America’s richest men. For years, George Soros has been on the Forbes list, climbing ranks since he appeared there over 3 decades ago, and read full article.
George Soros believes in standing for the freedom of speech, democracy, and justice alongside other things such as equality and this is why he has given most of his fortune in support of this philanthropy organization. Contributing the 18 billion over years has helped in shaping the estate planning of the organization which is George’s vision for the organization. Additionally, since this amount of money given to this organization was huge, accountability had to be driven. The Soros Fund Management was in charge of auditing how the money was to be used.
A new party was also brought in as a Chief Investments Officer who would overlook the management of the funds. George Soros intends to expand the capabilities of the Open Society Foundations in reaching out to more people using their programs. Having been brought up during the Nazi occupation in Hungary and escaping communism, he understands the need of living in an open society where an exchange of ideas can happen freely. George Soros pursued his studies at the London School of Economics. During his stay in London, he worked as a porter at the railway and a waiter in order to afford his school fees and upkeep. He later moved on to start a Wall Street career in the United States. This is where his life changed, from a mere immigrant to a successful entrepreneur and hedge fund manager, and http://foreignpolicy.com/2017/10/10/whos-afraid-of-george-soros/.
George Soros studied the market keenly for a while before placing a bet on the British pound and earning a billion shillings overnight. This caused a devaluation of the British pound. He used the same strategy during the Asian market crisis and he emerged a winner. George Soros is not only involved with the funding of projects that support immigrants, education, human right and justice, he has also gone a mile further in supporting Political endeavors for the Democrats. He has donated towards their causes for a while and was behind Hillary’s campaigns as well. George Soros is committed to continuing to promote justice and democracy far and wide through Open Society Foundations, and George Soros’s lacrosse camp.