George Soros has given what is believed to be one of the most substantial donations by a private donor to a given foundation. The beneficiary, Open Society Foundations, received $18 billion from the hedge fund manager who has also been providing financial support to the Democratic Party especially in the just concluded 2016 presidential elections. The foundation is now second after Bill and Melinda Gates Foundation as the largest charity organization in America. According to one official of the agency, Soros plans to leave a significant part of his fortune to the foundation.
About Open Society Foundation
The Open Society Foundation was started by Soros more than three decades ago. One of its principal roles is to support democracy and human rights in different parts of the world. Its presence in over 120 countries has made it one of the most influential organizations in the world. Over the years, the group has fought dictatorship and promoted human rights and the rights of the minority in the society. In the recent past, the foundation has paid particular attention to America, concentrating on protecting the rights of gays and lesbians and also reduction of use of excessive force by the police.
During the 2014 Ebola outbreak, the foundation provided financial aid to different treatment centers. The foundation has also supported other groups such as the Roman art and cultural center. After the 2016 presidential elections in America, Soros donated $10 million to help in the fight against violence that resulted from the hatred that characterized that election. The foundation’s spokesperson Laura Silber says in the last thirty years, they have used around $14 billion.
The History of George Soros
George Soros was born about 87 years ago to Hungarian Jews. His family narrowly survived the Nazi atrocities by concealing their Jewish roots. They used the same tactic to help other families hide from the Nazi. He then left the country after the war and went to the UK to study economics and then to USA where he prospered and emerged as an expert in finance and investments.
In 1970, he started his investment company, Soros Fund Management and used the profits he made to start Open Society Foundation. The organization reflects his firm belief in the philosophy of Karl Popper that societies can only succeed in presence democracy, freedom of expression, and the individual rights.
Soros first philanthropic work started in 1979 when he provided financial support for the education of black South Africans under the then apartheid government. He provided financial assistance to different cultural groups that enhanced the exchange of ideas in the Communist Hungary. After the collapse of communism in Eastern Europe, George Soros started the Central European University to support critical thinking in the region.
Over the years, Soros activities through Open Society Foundation have been seen in the Americas, Africa, and Asia. In all his activities, he has been agitating for accountability, transparency, and democracy in governments. He was among the first crusaders of medical marijuana movement in America. His recent donation to this foundation will see his donation to the foundation he started total to over $30 billion in the last 30 years. Read this story at fortune.com.