February 6, 2018

A Look Into How George Soros Donated $18 Billion To Create One Of The Largest Charities In The World

George Soros, a renowned hedge fund administrator as well as a huge donor for various causes has donated a staggering $18 billion to his charity, Open Society Foundations. This donation propelled it to the class of one of the largest wealth transfers ever effected by an individual to one foundation. This gift, which was made quietly over a number of years but was only disclosed recently, has propelled Open Society Foundations to become the second largest philanthropic foundation in the US. The Bill and Melinda Gates Foundation is the current holder of the first position. The large donation will see Mr. Soros, a popular subject of conservative critics, steal the headlines in most political and social debates across the country.

Open Society Foundations

Open Society Foundations was founded by George Soros over 30 years ago. The organization promotes human rights and democracy in over 120 countries. Recently, the organization seems to be paying more attention on the US through investments aimed at protecting the gays and lesbians as well as looking at ways to minimize cases of police brutality and abuse. Open Society Foundations supported treatment centers during the Ebola outbreak in 2014.

It also supports the Roma art and culture center and has increased efforts to offer protection to the American people from the rising wave of hatred incidents. These hate incidents and crimes spiked especially after the 2016 US election and George Soros committed around $10 million to curb this violence. Mr. Soros highlighted the need to push back what was happening in the US after the election, which he believed it had rekindled some dark forces.

Political Focus

Mr. George Soros has made a number of political donations, which include generous packages to Hillary Clinton and a number of Democratic politicians. These donations have set him on a collision path with elements in the far right and the Republicans. Mr. Soros has in the past been accused of undermining European countries’ control of their borders and trying to make Ireland a country that supports abortion. Patrick Gaspard, the Open Society Foundation’s vice president revealed that President Trump’s ascension to power gave the foundation a fresh urgency to soldier on.

Philanthropy

George Soros’ philanthropy is deeply rooted on his past. He grew up in Hungary during the Nazi occupation. His family and their friends were forced to flee Hungary during the Jewish holocaust using falsified papers. Soros moved to London and then to the United States where he made a name for himself and fortune on Wall Street. In 1992, he bet in opposition to the British pound and made a huge fortune. As he grew his fortune, he started financing efforts aimed at promoting human rights and democracy and established the first ever Open Society Foundation based in Hungary back in 1984. The foundation was meant to argue for free expression, democratic governance as well as reverence for human being rights.

George Soros made huge political donations especially to Hillary Clinton and other super PACs, which opposed Trump. He also supported a number of Democratic causes and candidates. Mr. Soros has been funding the Open Society Foundations with annual donations in the range of $800 – $900 million but he increased them in the recent years.

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