George Soros is the billionaire turned philanthropist who has vowed to give $500 million to help immigrants undergoing the crisis of being forced from their homes and transplanted to a new foreign country. Soros has previously weighed in on the crisis and warned of adversity ahead for the European Union. The exit from the EU for the United Kingdom is the latest signal that the conditions in Europe could get even worse. Soros is familiar with U.K. economic policy; he was the man who made $1 billion from the crumbling British Sterling Pound back in 1992 and perhaps he made another billion from England’s latest crisis, Brexit.
George Soros writes books and lectures on the world economies. Finally, people are beginning to know who he is and what his foundation, The Open Society Foundations, is all about. Soros must counter the propaganda generated by Republicans who were annoyed that this wealthy man would turn his back on the GOP, the Republican establishment, and endorse Democrat causes supporting the poor. But for years the harm was done by this propaganda, if you heard of George Soros, it was thanks to the efforts of Republican spin masters.
CNN has recently produced a sixty-second effort about George Soros which briefly explains who this man is, and it will combat the impressions left by Republican efforts to discredit him.
Soros was born into a comfortable family in Hungary but as a teenager, he witnessed the incursion of German forces occupying Hungary and later the liberating forces of Russia took control. He was able to immigrate to England and obtain an education. Soros moved to New York and established his hedge fund. It was in 1992 that he saw the British Sterling Pound in a precarious position and made a play in the Forex market betting the Pound would devalue. He did not have to wait long, only one day to gain $1 billion.
Soros has earmarked his gift for the immigrants or the countries they are entering. He wants to see further business efforts to help those in need and wants to make life easier for these unfortunate people.
Soros has been willing to share his ideas about the economy and investing in his two dozen published books on Investopedia. He has a newsletter that anyone can join; it is free to subscribe. George Soros is now 86 and in these last years of his dramatic and philanthropic life, the public should learn as much as they possibly can about this great and generous man.