George Soros has just donated 18 billion dollars to his charitable foundations, according to Forbes. This has made the Open Society Foundations the second largest charitable foundation in the United States. It comes at the expense of George Soros‘ own personal wealth. After donating so much money, it could have been expected that his rank on the Forbes 400 list would go down. Indeed, it did.
Before George Soros transferred 18 billion dollars to his charitable foundations, he had a net worth of 23 billion dollars. After his donation, his net worth went down to around 8 billion dollars. This is because 3 billion dollars were already accounted for by the time Forbes came out with their Forbes 400 list, which was just prior to reports about his donation. Now, George is number 59 on the list, which is down 39 places from his previous rank, and what George Soros knows.
Laura Silber is the Chief Communications Officer at the Open Society Foundations. She confirmed a report by The Wall Street Journal that George Soros has donated 18 billion dollars of his own money to the Open Society Foundations. Silber says that the Open Society Foundations will continue to donate to the same causes that they have always donated to. They will continue to donate to human rights, civil justice, animal rights, anti-discrimination efforts, and similar causes. Financial experts speculate that one of the reasons George Soros has donated so much money is to avoid taxes by making the money tax deductible. It can also be in order to avoid estate taxes by his heirs. Others say that George is simply donating the money as part of his estate planning, and because he continues to fight for justice and civil rights.
George Soros founded the Open Society Foundations many years ago. It will continue to be managed by Soros Fund Management. The Open Society Foundations have been backing human rights and civil rights for many years. They fight for those who are left on the sidelines, such as Roma children in Europe and refugees. The Open Society Foundations also donate money to improve public health.
George Soros was born in Hungary. He suffered under the Nazi occupation. He later suffered under communism. He escaped to London and studied at the London School of Economics. He obtained a bachelor’s degree and a master’s degree in philosophy. He later moved to the United States, where he got into Wall Street.
George Soros’ first appearance on the Forbes 400 list was 30 years ago. He was then worth 300 million dollars. Soros has been on the Forbes 400 list ever since. He is one of the most powerful actors on Wall Street. George Soros got involved with hedge funds in 1969, and more information click here.
George Soros knows what it feels like to suffer under occupation. That is why he started the Open Society Foundations, so that he can support open and free societies and governments, and follow his Twitter.