George Soros and his Philanthropic Extravaganza that Shook the Country

George Soros creates news often with his fights for suppressed and philanthropic efforts to change their lives. Recently, the hedge fund billionaire surprised everyone with his philanthropic extravaganza. Soros donated nearly $18 billion to his philanthropic wing – Open Society Foundations. People who know Soros for long did not think it is a surprising news as they expected something like this from him. But, others just wondered as this was considered as one of the biggest contributions from a private donor to a single philanthropic foundation. Surprisingly, this transfer reduced his fortune drastically from over $25 billion. Currently, he has nearly $8 billion as his fortune – it means that he transferred more than 70% of his wealth to philanthropic efforts.

Interestingly, Soros was making contributions for the last many years regularly, and only recently, it is revealed that the contributions to the Open Society Foundations gone beyond $18 billion. These contributions made the Open Society Foundation the second-biggest charity group in the country, standing behind Bill Gates and Melinda Foundation. The Open Society Foundations was established by George Soros almost three decades back, and it helped democratization process in countries, supported the unprivileged communities, raised voice for free speech, provided food and drinking water in scarce areas, aided with healthcare around the globe, and more.

Interestingly, the contribution bonanza made the conservatives upset as it became a widely discussed news in the United States. The conspiration theorists from conservative side always targeted Soros for his philanthropy giving. One of the primary reasons for the conservative opposition is his support for liberal causes and policies. Soros is also one of the biggest contributors to the Democratic Party and openly challenged George W. Bush and Donald Trump in their presidential elections. A right-wing website named Breitbart describes the $18 billion contributions to OSF news as “Death Star.” It was because OSF became the second largest foundation in the country.

Depicting him as a philanthropic bogeyman is a type of propaganda by the conservatives. For hiding the deep divisions in the partisan, conservatives usually focus on a few individuals of the opposite political party as part of their strategy. When conservatives target Soros, liberals will go for Koch brothers or Robert Mercer. Interestingly, the progressive conspiracies against conservative billionaires can get more attention due to more inclined to reality – the conservative billionaires are generally perceived as dark money holders by the general public, whereas liberals such as Soros earned his fortune from risky currency trades.

Soros started his life in Hungary in the 1930s and came to London after the Second World War – he and his family survived the German invasion as Hungarian Jews. He earned his graduation from the renowned London School of Economics. After briefly working at British Stock markets, Soros moved to the United States. From 1956, he started trading on the Wall Street and gained some financial success. In 1970, he founded a hedge fund firm in his name – Soros Fund Management. It created significant success in the market and made him a billionaire. Since the 1980s, Soros started supporting liberal and philanthropic causes. and follow him

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