George Soros is known for many philanthropic works and active intervention with his Open Society Foundations. Recently, he made a big surprise as George Soros transferred nearly $18 billion of his personal wealth to Open Society Foundations. It is viewed as one of the biggest wealth transfer to a foundation by an individual. Interestingly, he was contributing the amount for the last few years, and only on mid of October 2017, the news broke out. It made the Open Society Foundations the second biggest charity organization in the country. The contribution bonanza is expected to raise many political and social debates in the country.
Interestingly, the Open Society Foundations were established by Soros in the early 80s, and currently, it shapes human rights and democracy in over 120 countries around the globe. It has significantly invested its efforts and resources to proclaim LGBT rights, protect them, and more. It has also played roles in 2014 Ebola outbreak, Roma community in Europe, victims of hate crimes in the U.S. during the Presidential election 2016, and more. Soros has contributed over $10 million to campaign against such heinous crimes. It is concluded that the contribution of Soros would help the OSF to intensify its efforts to advance and shape the civil societies around the world.
Analysts confirm that the contribution would significantly help Open Society Foundations to improve the democratization in Asia countries, Africa, and South America. The political crisis in the countries, including the military rule, dictatorship, terrorism, and more, is creating widespread consequences to the civil society of those countries and lacking the rule of law. Soros has confirmed that he would contribute an additional $2 billion apart from his $18 billion bid.
Apart from bringing criminals behind bars, the funds can also ensure clean drinking water accessibility as industries in many Asian countries are notorious for polluting the drinking water. Additionally, the OSF foundations also work in providing access to education, support services to agricultural families, and more. Interestingly, Soros had previously contributed as many as $13 billion from the 1980s to various philanthropic organizations, including Open Society Foundations. The personal wealth of Soros is estimated to be $25 billion, and the latest contributions prove that majority of his hard-earned wealth has been transferred to various philanthropic organizations.
After working for a few years in London, Soros moved to the United States in 1956. He started working on the Wall Street as a stockbroker and started Soros Fund Management in 1970. Over the next few decades, it grew as one of the largest hedge fund management firms in the world, and Soros made significant profits through the transactions in the risky currency market and more