George Soros is a rich billionaire who is proud of the fact that his wealth does not come from family but is self-made. He is a person who is well-known for his investment skills along with philanthropic work.
George Soros was born in Budapest, Hungary in 1930. He was able to survive Nazi occupation there as his father spent a lot of money and got false papers made for him and the others in his family. He even survived the Communist rule in Hungary during the mid-1940s. After this he immigrated to London.
George Soros went to the London School of Economics to earn a degree in economics. It was in 1956 that George Soros moved to New York City. He was planning to make some money on Wall Street and then come back to London. This is because he did not wish to live in America on a permanent basis. But once he entered the world of finance on Wall Street he could not come back. It was in 1979 that he started his philanthropy. His lifetime donations have reached over $7 billion by 2012. Most of his donations happen through the Open Society Foundations.
George Soros got interested in The Open Society and Its Enemies, a book by Karl Popper. This was while he was studying at the London School of Economics. He was impressed by the philosophy of Karl Popper as well as his critique of totalitarianism. George Soros never studied directly under Popper, but was impressed by his work a lot. After reading his book, George Soros came to understand that there is no ideology which is the owner of truth. This is why only those societies will be able to flourish that can operate in a free as well as open manner. This means that there has to be total and complete respect for individual rights. These were thoughts that influenced George Soros deeply. They formed the basis of all his actions later on in life.
Read this story at Politico about George Soros.
George Soros sailed to New York in 1956. He joined F.M. Mayer, a brokerage firm, on Wall Street. After that he worked for a few more firms too. In 1973 George Soros set up his own hedge fund. This was named the Soros Fund. Later on it was renamed and called the Quantum Fund. Then its name got changed to Quantum Fund Endowment.
George Soros started this firm with $12 million which had been received from investors. The fund was a massive success. In fact, this led to George Soros becoming the 21st richest person in the world. At that time he was 85 years old and had an estimated net worth of $26 billion. In 1979 he started his philanthropic activities and established the Open Society Foundations in 1984.
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