George Soros is an 87-year-old a Hungarian-American investor, fund manager and philanthropist born in Hungary and based in the United States of America. He was born in Hungary, survived Holocaust and later moved to the United Kingdom in the year 1947 together with his family. He after that moved to the United States in 1956 where his journey in finance and investments later began.
As a graduate of economics and philosophy, he began his career in business working in merchant banks until the year 1969. He began his career as a traveling sales agent in Welsh before later moving to Singer and Friedlander where he worked as a clerk. He later worked with Arnold and Bleichroeder, Wertheim and Co and F.M Mayer holding different positions from an arbitrage, to analyst to vice president. Double Eagle, his first hedge fund was started the same year. Proceed from this firm were used to start his second hedge fund, Soros Fund Management the following year.
Soros became the chief advisor for Quantum Fund, which was the new name given to his first hedge fund, initially called Double Eagle.Right now, his total assets are assessed to be 25.2 billion USD, holding the 22nd position on the Billionaires list. He is also the richest among hedge fund managers globally.
George is known for his application of Karl Poppers General Theory of Reflexivity in capital markets, something he claims gives him a clear view of asset market value for securities. He picks this from his background in philosophical studies from London School of Economics. It is from this thinking that he started the Open Society Foundations, a networking platform for projects, foundations and partners in over 100 countries. He is known for his support in the form of donations and dispenses to the American Progress and American Liberal causes. He is known for his involvement in Eastern Europe and American politics, showing great support for Liberal organizations and the Democratic Party in the U.S.
He has given himself to various philanthropic causes, donating more over 11 billion USD in the period from 1979 to 2011. He began philanthropy in1979 by giving scholarships to Sotho Africans who had suffered apartheid. In the late 1980s to the early 1990s, he was actively involved in the peaceful transition to capitalism from communism in Eastern Europe. He gave the Central European University the largest higher education endowments, one of the largest in the whole of Europe.
He termed the late 2000s recession a result of ideological excesses, emphasizing the need for government intervention in financial affairs. He inaugurated the Institute for New Economic Thinking in reacting to the recession. This institute constituted financial, business and economic experts, obligated to formulate new approaches to the international financial and economic systems. Read more on CNBC about George Soros.
George Soros remains unique in his interests in social, political and economic systems globally. He is named the most influential man in Hungary according to Politico and is actively involved in the socio-economic and political in the United States.