George Soros, businessman, philanthropist, and founder of the Open Society Foundations has recently announced a donation of $18 billion to the Open Society Foundations according to the New York Times. The Open Society Foundations were founded by George Soros in 1984. In this year he opened the first Open Society Institute in Hungary, giving it a budget of $3 million. The Open Society Foundations made a significant effort in reducing communism and peacefully bringing about democracy in Central and Eastern Europe.
Soros got his education from the London School of Economics. He then went to work trying to find a job in banking. He landed his first job at Singer and Friedlander in 1952. Two years later he moved to New York City to work for F.M. Mayer, where he operated with European Stocks. In 1959 Soros became a European Securities analyst at Wertheim & Co. $ years later he became the vice president at Arnhold and S. Bleichroeder. With a $4 million investment in 1969, Soros created the Double Eagle hedge fund. The fund was worth $12 million by 1973.
In 1970 Soros founded Soros Fund Management and in 1973 he left Arnhold and S. Bleichroeder to become the full-time chairman of Soros Fund Management. Soros became involved in politics and began funding dissident groups in Soviet-controlled nations. In Georgia, he helped tremendously in the Rose Revolution, a peaceful rise of democracy in the once Soviet nation.
Time Magazine noted two specific Soros operations for having especially positive effects. The first was Soros efforts to build an infrastructure for internet in Russian universities. The second was his Millennium Promise, to which he pledged $50 million. The Millennium Promise provided aid to impoverished African people through advanced medical care, agricultural practices, and education opportunities. In 2004 Soros began funding Democracy Alliance, a group dedicated to the formation of progressive ideas and programs. Soros was also one of the first donors for the Center for American Progress and uses his Open Society Foundations to continue funding it to this day.
In 2009 Soros gave $35 million to New York to be used for parents and families of underprivileged children. New York added an additional $140 million to this fund and it continues to operate to this day. The $18 billion that Soros has recently donated continue to fund the Open Society Foundations for years to come, helping them continue to spread peace and education through the world.
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