George Soros is an American-Hungarian Business Man, Philanthropist, Author and Investor that is known for his numerous contributions in the field of Business and Investment. George Soros is one of the most successful investors in the world today and has earned a total net worth of $25.2 billion, which positioned him as one of the 30 richest people in the entire world.
George Soros was born on August 12, 1930, in Budapest, Germany. He had been one of the lucky survivors of the Nazi reign in Hungary, Germany, and fled to England in 1947 to get away. In his early years, he finished school at the London School of Economics and graduated with a Bachelor’s degree. Soon after, he wanted to take up a higher education so pursued his Masters, and gained a master’s degree in Philosophy. After his education, he first started his career in business by taking a number of jobs at merchant banks before going into his first hedge fund, which was called the Double Eagle in 1969. All the profits that he had earned from his investment fund, George Soros used to start funding the Soros Fund Management, which was his second fund in 1970. After a short while, his Double Eagle Fund was renamed to the Quantum Fund and was the first principal firm that George Soros advised. Read his profile at Business Insider.
Since being funded, the Quantum Fund had a total of $12 million in assets under his management, and as of the year 2011, grew to an astounding $25 billion, in which was the majority of his overall net worth. Since then, he has been called the “Man who broke England’s Banks” because of all the short sales of US$10 Billion worth of sterling pounds he had earned, which gained him a huge profit of $1 billion during the Black Wednesday UK currency crisis in 1992.
Since he had also been known for his studies in philosophy, all of his research has led him to come up with the development of the Karl Popper’s General Theory of Reflexivity to capital markets, which he had mentioned gave him a clear grasp of the asset bubbles, the fundamental market values of securities and the discrepancies in value that have been used in swapping stocks and shorting. Visit his site to know more at opensocietyfoundations.org.
Through the years, he has also been a well-known supporter of the progressive American liberal political causes which he has dispensed donations through a number of foundations like the Open Society Foundation. Between the year 2011 and 1979, George Soros has also donated a total of $11 billion to a lot of philanthropic organizations, in which he had played a very significant role in promoting peace and transition from the world of communism to capitalism in the European and Eastern part of the world in the late 1980’s and the early 1990s. He had also contributed in the progression of higher education in Central European Universities which can also be located in his hometown of Hungary.
In his years of business, he has contributed to numerous philanthropic organizations and continues to be the success that he is today.