When George Soros’s family moved to London in 1957, he had no idea that one day he would be one of the most generous philanthropists in the world. New York Times reports that in October 2017 new information was made public that showed Soros had made incremental donations over the past few years totally in a sum of $18 billion dollars being donated to Open Society Foundations. After graduating from the London School of Economics Soros desperately sight work from every bank he could apply too. He was denied for a time and made a living as a traveling salesman. Finally, in 1954 a merchant bank known as Signer and Friedlander gave George Soros a chance.
He worked for Singer and Friedlander for two years when, at the recommendation of a coworker, He applied for the New York firm F.M. Mayer. His application was accepted and Soros soon moved to New York City. He dealt mostly in European stocks and caught the interest of larger firm: Wertheim & Co. In 1959 he went to work at Wertheim & Co., where he remained as a securities analyst until 1963, at which point he began working for Arnhold and S. Bleichroeder.
Soros was soon made vice president Arnhold and S. Bleichroeder and with an investment of $4 million ($250,000 being his own money) he created the Double Eagle hedge fund. It grew to a value of $12 million by 1973. In 1973 left Arnhold and S. Bleichroeder and the Double Eagle hedge fund to work full time as the chairman of Soros Fund Management, a firm he had founded in 1970.
Soros also became politically and philanthropically active in the 1970’s. He donated great sums of money to groups opposing communism in Central and Eastern Europe. Even after the fall of the Soviet Union, Soros’s philanthropy continued to have an effect in the area. He is considered by many in Georgia to have played a crucial role in Rose Revolution, a peaceful transfer of power to a democratic government in 2003.
George Soros and his Open Society Foundations are also very active in Africa. His foundations helped to end violent regimes and spread democracy through southern Africa. Additionally, he has donated $50 million to his Millennium Promise, a program that combats poverty, child mortality, and other ills that have befallen the people of Africa, by improving education, medical treatment, and agriculture.
The $18 billion that Soros recently contributed to the Open Society Foundations will be used to further these goals and to continue to increase the quality of life for people all around the globe.
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