George Soros Gives $18 Billion to Open Society Foundations
George Soros, who made his mark in the world of Finance, has transferred about $18 billion to fund open society foundations. This brings his lifetime donations to human rights organization to $32 billion. This makes his foundation one of the largest in the world in the area of human rights.
This also makes the Soros’s Open Society Foundation the third largest on earth, surpassed only by the Wellcome Trust and the Bill and Melinda Gates Foundation. Officials of the Foundation said that the wall street investor had decided to increase the pace of his donations from the proceeds of his hedge fund, which has been quite successful. This latest donation represents the bulk of his fortune, which is estimated to be worth about $23 billion.
What is Open Society?
Open Society is a global organization that promotes vibrate tolerant democracy all around the world. Since its formation in 1979, it has given about $14 billion to organizations all over the world that promote democracy.
How Soros Made His Fortune
Soros made his fortune by betting against the British pound. This was after it crashed in 1992 from the European Exchange Mechanism. He has always been a vocal supporter of liberal democracy.
Soros also played a crucial role in the Hillary Clinton 2016 campaign for the presidency. This donation has been made in the midst of a row with Hungary, his home country, about the press and academic freedom in the country.
Soros’s Troubles with the Hungarian Government
Recently, there was a lot of criticism after a website, run by an ally of conservative president Victor Orban, published a list of journalists who it claimed were Soros’ agents. The criticism was global, and the US charge d’affaires David Kostelancik commented on it. He said the move was dangerous both to those named and it was an attack on the freedom of the press.
Orban has in the past said Soros is a threat to national security. He has even gone ahead to call him a public enemy. This was due to the support that Soros has provided to Muslim immigrants to Europe escaping civil strife.
The Hungarian government is currently engaged in a legal standoff with the Central European University based in Budapest, which Soros founded. The rector of the university has accused the Hungarian government of trying to strangle it by failing to sign an agreement that would allow the university to continue its operations in the country.
The rector has said that the government has made a deliberate effort to keep the university in legal limbo to suit their own biased needs. He said the government had resorted to constantly shifting the goalposts every time they solved the issue.
However, the Hungarian government said that it simply wanted to level the playing for domestic and foreign universities. However, the chief of staff of the Hungarian president said that the recent move by Soros to support Muslim immigrants into the country has affected the relationship between the government and CEU. and Follow him Twitter.com