Born of Geoge Soros
George Soros is a Hungarian-American investor, business magnate, philanthropist, and political activist. He was born on August 12, 1930, in Budapest, Hungary, to a Jewish family. His father, Tivadar Soros, was a successful lawyer, and his mother, Elizabeth, was a homemaker. Soros was the second of three children, and his older brother Paul and younger brother Thomas both went on to successful careers in academia.
Soros grew up in a middle-class family in Budapest, and his childhood was marked by the turmoil of World War II. In March 1944, when Soros was 13 years old, the Nazis occupied Hungary, and the Soros family was forced to go into hiding. Soros later recalled that this experience had a profound impact on his life and worldview, and he has often spoken out against authoritarianism and intolerance.
School at LSE
After the war ended, Soros and his family returned to Budapest, but their lives were once again upended by the rise of communism. In 1947, Soros left Hungary and emigrated to England, where he attended the London School of Economics (LSE). At LSE, Soros studied under the renowned philosopher Karl Popper, who had a significant influence on his thinking.
Soros graduated from LSE with a bachelor’s degree in philosophy in 1952, and later obtained a master’s degree in philosophy in 1954. After graduation, Soros worked as a clerk at a London merchant bank, but he soon grew disillusioned with the corporate world and decided to pursue a career in finance.
Move to New York
In 1956, Soros moved to New York City and began his career in finance at F.M. Mayer, a Wall Street brokerage firm. He later worked at Wertheim & Co. and Arnhold and S. Bleichroeder before founding his own hedge fund, Soros Fund Management, in 1969.
Soros Fund Management was initially a small hedge fund focused on trading stocks and bonds, but it soon grew into one of the most successful investment funds in history. Soros was known for his bold and innovative investment strategies, and he became famous for his ability to make large sums of money from a single trade.
Man Who Broke Bank of England
One of Soros’s most famous trades came in 1992, when he bet against the British pound and earned over $1 billion in profits. Soros and his team believed that the British government would be forced to devalue the pound in order to keep it within the European Exchange Rate Mechanism (ERM), and they took a massive short position against the currency. When the British government was indeed forced to withdraw from the ERM, Soros’s fund made a huge profit, and he became known as the “Man Who Broke the Bank of England.”
Over the course of his career, Soros has been involved in a number of other high-profile financial transactions. He has invested heavily in various commodities, including gold, and he has been a vocal critic of the current economic system. Soros has argued that capitalism has become too focused on short-term gains, and he has called for a more equitable and sustainable economic model.
Soros as Philanthropist
In addition to his work in finance, Soros has also been an active philanthropist and political activist. He has donated billions of dollars to support democracy, human rights, and social justice initiatives around the world, and he has been a vocal critic of authoritarian regimes and political movements.
Soros’s philanthropic work began in the 1970s, when he founded the Open Society Foundations (OSF). The OSF is a network of foundations and organizations that promote democracy, human rights, and social justice around the world. The OSF has been involved in a wide range of initiatives, including supporting democracy movements in Eastern Europe, promoting the rule of law in Africa, and advocating for LGBT rights
Soros’s philanthropic work also extends to the United States, where he has donated millions of dollars to support progressive causes and political campaigns. He has been a vocal critic of the conservative movement and the policies of the Republican Party, and he has provided significant financial support to Democratic candidates and organizations.
Soros at Politics
One of Soros’s most significant contributions to American politics came in 2004, when he pledged to donate $27 million to defeat President George W. Bush in the presidential election. Soros was an early and vocal opponent of the Bush administration’s foreign policy, particularly its invasion of Iraq, and he saw the election as an opportunity to push back against the conservative agenda.
While Soros’s efforts to defeat Bush ultimately fell short, he has continued to be an active participant in American politics. He has donated millions of dollars to support progressive causes such as gun control, climate change, and criminal justice reform, and he has been a vocal critic of President Donald Trump and his administration.
Soros’s political activism has not been without controversy, however. He has been the subject of numerous conspiracy theories and attacks from conservative politicians and media outlets, who accuse him of using his wealth to manipulate political outcomes and promote his own interests. Some have even accused Soros of being part of a global Jewish conspiracy to control world events.
Soros has vigorously denied these accusations, and he has argued that his political activism is motivated by a genuine desire to promote democracy, human rights, and social justice around the world. He has also defended his support for progressive causes, arguing that it is a necessary counterbalance to the power and influence of conservative politicians and organizations.
Soros in Business & Investement Ventures
In addition to his philanthropic and political work, Soros has also been involved in a number of other business and investment ventures. In the 1980s and 1990s, he was involved in a number of high-profile corporate takeovers, including the purchase of a majority stake in French electronics company Société Européenne de Communication (SEC).
Soros in Cryptocurrency
Soros has also been a vocal advocate for cryptocurrency and blockchain technology, arguing that they have the potential to revolutionize the financial system and provide greater economic opportunity to people around the world. In 2018, he announced that his investment fund was planning to trade cryptocurrencies, including Bitcoin, although it is unclear how successful this venture has been.