George Soros is one of the wealthiest people in the world, being also considered one of the smartest and most experienced investors alive today. He is quite old, and have made a fortune with his skills in investing and using the money to his advantage. However, because of his extreme amount of wealth and his role as an investor, entrepreneur and business developer, some people believe that he has vile intentions when it comes to how George Soros uses his money.
Recently, however, the fortune of George Soros just suffered a significant downfall. Many people were quite surprised to see the legendary Soros falling down through the ranks of Forbes’ Wealthiest Billionaires list.
That downfall was not an accident, but was the result of something that George Soros decided to do on purpose, acknowledging that he would lose a big chunk of his stored wealth.
George Soros donated, in October of 2017, more than $18 billion from his personal family office, the Soros Fund Management, one of the biggest funds that are present in the world. That was a considerable percentage of what George Soros had acquired through his last years of investing and developing businesses, and Twitter.com.
That big amount of money went straight to the philanthropical organizations called Open Society Foundations, which would then use the money of the investor to fund a series of noble causes and organizations that are helping people in need.
Oh, and, by the way, did you know that the Open Society Foundations were created and founded by George Soros himself?
Yes, George Soros is, monthly, supporting and funding these organizations that he created back when he was just a few billions worth in the list of billionaires. Right now, there are dozens of Open Society Foundations in the world, scattered across different territories, and each of them receiving money from the legendary investor, to then fund other initiatives and organizations with charitable purposes.
Although the wealth of the investor fell by a big margin, George Soros said that it was no big deal. According to the entrepreneur himself, the number that is portrayed in his net-worth is not relevant to his life at all. During his first years of working as an investor, he was earning his money to survive and to pay for his existence in the U.S., since he had traveled a long way from his homeland, Budapest, Hungary. Nowadays, most of his investments, which, many of them turn out to be highly successful, are to pay for the philanthropical activities that he endorses every single month. According to Soros, more than fifty percent of his wealth goes to the Open Society Foundations to keep the cycle running.
Most of the world was surprised by the action of George Soros for donating such a big chunk of his wealth to his philanthropical foundations since he had a $23 billion fortune before the event. However, the close relatives of George Soros are not surprised at all by the actions of the philanthropist, as they know that the man has a kind and gifted heart by nature, and learn more about George Soros.