George Soros, a billionaire hedge fund manager, has given $18 billion to his charity Open Society Foundation (Foundation). This is one of the largest transfers of wealth to a single foundation by a private donor. The donation has made the Open Society Foundation the second largest philanthropic organization in this country, second only to the Bill and Melinda Gates Foundation. George Soros is also a major Democratic donor. Mr. Soros founded the Foundation more than 30 years ago for the purpose of promoting human rights and democracy. In 2014, the Foundation funded treatment centers during an outbreak of Ebola, a center for Roma culture and art and made extraordinary efforts to protect United States citizens from hate incidents following the presidential election in 2016. After the election there was a spike in hate crimes and Mr. Soros committed $10 million towards preventing violence. His political donations to Hilary Clinton and other democrats brought ire from the Republicans and far right fringe groups.
According to the National Philanthropic Trust (NPT) Mr. Soros has a definite opinion and point of view about the country and the world and he is not hiding that from anyone.President Trump and his agenda have given the Foundation a new sense of purpose and urgency, according to Foundation Vice President Patrick Gaspard. Mr. Gaspard will take over as the Foundation’s President at the end of the year. The Foundation and Gaspard specifically singled out Trump’s assertion of voter fraud and the commission Trump appointed to study the matter. Democrats have criticized the panel set up by Trump and find the panel lacks a certain level of integrity. Mr. Soros is from Hungry and lived in Nazi-occupied Hungry as a small boy. Soros left Budapest in 1947 while his country was still under communist rule and ventured to London, England and then onto the United States. In the US he found great success on Wall Street. In 1992, Soros made a bet against the British pound for $1 billion and earned the nickname “the man who broke the Bank of England.” He aggressively sold the currency, making the government to devalue the pound.
Since Soros grew up under communist rule, he is well aware of what it is like to live in a closed society. As his fortune grew, he sought out ways to promote human rights and democracy. He then established the first Open Society Foundation in Hungry in 1984. The name of the foundation is from a book entitled “Open Society and Its Enemies.” The book was written by Karl Popper, a great philosopher. Soros became one the largest donors to the Democrats, including Hilary Clinton. During the last presidential election cycle Soros donated millions to super PAC’s that were opposing Trump and supporting democratic candidates and a variety of democratic causes. Soros funded the Foundation through annual donations of between $800 and $900 million. He then increased donations as part of his estate and financial planning. Soro’s Foundation has made tremendous impacts throughout the world. There is no part of the world that has not been served by the Foundation.