[131] Soros donated $1.4million to publicity efforts to support California's Proposition 5 in 2008, a failed ballot measure that would have expanded drug rehabilitation programs as alternatives to prison for persons convicted of non-violent drug-related offenses. Misinformation About George Floyd Protests Surges on Social Media. We sold short the Thai baht and the Malaysian ringgit early in 1997 with maturities ranging from six months to a year. law of 2017), The references used may be made clearer with a different or consistent style of, Association of Southeast Asian Nations (ASEAN), Open Society Initiative for Southern Africa, Massachusetts Sensible Marijuana Policy Initiative, October 2018 United States mail bombing attempts, General Secretary of the Chinese Communist Party, List of projects supported by George Soros, peaceful transition from communism to democracy in Hungary, Soros on Soros: Staying Ahead of the Curve, "Paulson Cannot be Allowed a Blank Cheque", Quincy Institute for Responsible Statecraft, "Forbes 400 Richest Americans: George Soros", "The incredible life of billionaire investing legend George Soros", "A Bearish George Soros Is Trading Again", "The New Forbes Philanthropy Score: How We Ranked Each Forbes 400 Billionaire Based On Their Giving", "Who is billionaire financier George Soros? "[181], On November 11, 2003, in an interview with The Washington Post, Soros said that removing President George W. Bush from office was the "central focus of my life" and "a matter of life and death". [107], Since the fall of the Soviet Union, Soros's funding has played an important role in the newly independent countries. [177] Lydia Gall of Human Rights Watch asserted that it was reminiscent of Nazi posters during the Second World War featuring "'the laughing Jew'". Soros has also funded similar measures in California, Alaska, Oregon, Washington, Colorado, Nevada and Maine. Vilified by some, praised by others, the Hungarian-born investor and his Open Society Foundations (OSF)he's donated $32 billion since 1979works to support liberal democratic intuitions in 37 countries around the world. After Bush's reelection, Soros and other donors backed a new political fundraising group called Democracy Alliance, which supports progressive causes and the formation of a stronger progressive infrastructure in America. [236] Peter Soros was married to the former Flora Fraser, a daughter of Lady Antonia Fraser and the late Sir Hugh Fraser and a stepdaughter of the late 2005 Nobel Laureate Harold Pinter. They divorced in 2005. So far, the Soros PAC has spent more than $559,000 to help Price and attack O'Malley. "[205], In January 2015, he said that "Europe needs to wake up and recognize that it is under attack from Russia" and urged Western countries to expand economic sanctions against Russia for its support of separatists in eastern Ukraine. George Soros is a celebrated hedge fund tycoon who managed client money in New York from 1969 to 2011. 19 campaign", "An Inside Look At The Biggest Drug Reformer In The Country: George Soros", "The Project on Death in America: twenty years on by David Clark End of life studies", "George Soros: Reflections on Death in America", "George Soros: Reflections on Death in America contd. In 1992, Soros shorted the British pound and reportedly made a profit of $1 billion. [50], Soros also obtained a Bachelor of Science in philosophy in 1951, and a Master of Science in philosophy in 1954 from the London School of Economics. [85] However, the case was reopened a few years later, and the French Supreme Court confirmed the conviction on June 14, 2006,[86] although it reduced the penalty to 940,000. Reuters Publishes George Soros Obituary In Error News agency declares billionaire financier dead before removing article after 30 minutes. [17] Based on his early studies of philosophy, Soros formulated the General Theory of Reflexivity for capital markets, which he says renders a clear picture of asset bubbles and fundamental/market value of securities, as well as value discrepancies used for shorting and swapping stocks. In 1989, the Commission des Oprations de Bourse (COB, the French stock exchange regulatory authority) conducted an investigation of whether Soros's transaction in Socit Gnrale should be considered insider trading. Jewish philanthropist Michael Steinhardt, who arranged for Soros's appearance at the conference, clarified that "George Soros does not think Jews should be hated any more than they deserve to be. He explains the title in the closing chapter by pointing out the parallels in this political context with the self-reinforcing reflexive processes that generate bubbles in stock prices. For Soros, the rate at which the United Kingdom was brought into the European Exchange Rate Mechanism was too high, their inflation was also much too high (triple the German rate), and British interest rates were hurting their asset prices.[72]. Joe Rogan blasted George Soros on a recent episode of his podcast. I n 2020, everything is heightened. A recent example of reflexivity in modern financial markets is that of the debt and equity of housing markets. So, I wrote to every managing director in every merchant bank in London, got just one or two replies, and eventually that's how I got a job in a merchant bank. Soros's profit on the bet was estimated at over $1billion. "[248], "Soros" redirects here. He specialized in European stocks, which were becoming popular with U.S. institutional investors following the formation of the Coal and Steel Community, which later became the Common Market.[56]. Anti-Semitism predates the birth of Israel. In fact, when Norman Lamont said just before the devaluation that he would borrow nearly $15billion to defend sterling, we were amused because that was about how much we wanted to sell. shelved 33,144 times Showing 30 distinct works. [196] Soros has also stated that "the euro has many unresolved problems" which "must not be allowed to destroy the European Union". I was told to go to the Jewish Council. This was the third in a series of books he has written that have predicted disaster. In 2003, former Federal Reserve chairman Paul Volcker wrote in the foreword of Soros's book The Alchemy of Finance: George Soros has made his mark as an enormously successful speculator, wise enough to largely withdraw when still way ahead of the game. George Soros could still live to the ripe old age of YYY. In the universe of false online information, Mr. Floyd remains alive and George Soros is to blame for the protests. [37][38] The two married in 1924. "[137] In 1994, Soros delivered a speech in which he reported that he had offered to help his mother, a member of the right-to-die advocacy organization Hemlock Society, commit suicide. He said he would sacrifice his entire fortune to defeat Bush "if someone guaranteed it". He and Jim Rogers reinvested their returns from the fund, and also a large part of their 20% performance fees, thereby expanding their stake. For a man who wants to be the conscience of the world, he said, "I felt no sense of guilt." He added, "It was not difficult to do." [55], By 1981, the fund had grown to $400m, and then a 22% loss in that year and substantial redemptions by some of the investors reduced it to $200m. [50] There he became a student at the London School of Economics. Soros is a Hungarian-American businessman and philanthropist. [194], In 2018, Soros highlighted that Europe faces major challenges related to immigration, austerity, and nations leaving the EU. [123], On May 16, 2018, Soros's Open Society Foundations announced they would move its office from Budapest to Berlin, blaming the move on an "increasingly repressive" environment in Hungary. She was raised in California, earned an MBA from the University of Miami, and runs an Internet-based dietary supplement and vitamin-sales company. Fraser and Soros separated in 2009. [84] In October 2011, the court rejected his appeal in a 43 decision, saying that Soros had been aware of the risk of breaking insider trading laws. [102], For the 2022 United States elections, Soros was the country's largest donor. [4][14][15], Soros began his business career by taking various jobs at merchant banks in the United Kingdom and then the United States, before starting his first hedge fund, Double Eagle, in 1969. Many national governments saw home ownership as a positive outcome and so introduced grants for first-time home buyers and other financial subsidies, such as the exemption of a primary residence from capital gains taxation. Lenders looked at their balance sheets which not only showed that they had made more loans, but that the collaterals backing the loans the value of the houses had gone up (because more money was chasing the same amount of housing, relatively). ", Soros was believed to have traded billions of Finnish markkas on February 5, 1996, in anticipation of selling them short. He hypothesized that Putin wants to "destabilize all of Ukraine by precipitating a financial and political collapse for which he can disclaim responsibility, while avoiding occupation of a part of eastern Ukraine, which would then depend on Russia for economic support. [138] In the same speech, he also endorsed the Oregon Death with Dignity Act,[139] proceeding to help fund its advertising campaign. [247] In his acceptance address Soros said: "In my native Hungary, the government of [Prime Minister] Viktor Orbn has turned me into the super villain of an alleged plot to destroy the supposed Christian identity of the Hungarian nation [I] donate the prize money associated with this award to the Hungarian Spectrum, an online English-language publication that provides daily updates on Hungarian politics. "[208][209] In January 2016, 53 books related to Soros's "Renewal of Humanitarian Education" program were withdrawn at the Vorkuta Mining and Economic College in the Komi Republic, with 427 additional books seized for shredding. ", In January 2016, at an economic forum in Sri Lanka, Soros predicted a financial crisis akin to 2008 based on the state of the global currency, stock and commodity markets as well as the sinking Chinese yuan. [116] In response, Soros called the government "a mafia state".[117]. In March 2017, six US senators sent a letter to then secretary of state Rex Tillerson[120] asking that he look into several grants the State Department and the US Agency for International Development (USAID) have given to groups funded by "left-wing" Soros. He has suggested that the contemporary domination of world politics and world trade by the United States is a reflexive phenomenon, insofar as the success of military and financial coercion feeds back to encourage increasingly intense applications of the same policies to the point where they will eventually become unsustainable. Soros has been married three times and divorced twice. George Soros, Soros on Soros: Staying Ahead of the Curve 5 likes Like "Economic theory is devoted to the study of equilibrium positions. For other uses, see. [91][92], On September 27, 2012, Soros announced that he was donating $1million to the super PAC backing President Barack Obama's reelection Priorities USA Action. From 1963 to 1973, Soros's experience as a vice president at Arnhold and S. Bleichroeder resulted in little enthusiasm for the job; business was slack following the introduction of the Interest Equalization Tax, which undermined the viability of Soros's European trading. This is a think tank composed of international economic, business, and financial experts, who are mandated to investigate radical new approaches to organizing the international economic and financial system. To add more books, click here . [34] His father Tivadar (also known as Teodoro varc) was a lawyer[35] and a well-known Esperanto-speaker who edited the Esperanto literary magazine Literatura Mondo and raised his son to speak the language. When did you realize that you knew how to make money?" [167], In a subsequent article for The New York Review of Books, Soros emphasized that, I do not subscribe to the myths propagated by enemies of Israel and I am not blaming Jews for anti-Semitism. By THR staff April 19, 2013 4:32am In October 2010, the. Since its inception in 1973, the fund has generated $40billion. The Hungarian government spent millions of dollars on a poster campaign demonizing Soros. They have two children: In 2008, Soros met Tamiko Bolton;[229] they married September 21, 2013. ", "Black Lives Matters Defender May Become Philadelphia's Next District Attorney", "Here are the mega-donors and police unions pouring millions into the L.A. County district attorney race", "Another billionaire weighs in on state's attorney's race: George Soros gives $2M to group backing Foxx", "Biden Banks $242 Million as Big-Name Donors Write Huge Checks", "Analysis | Meet the mega-donors pumping millions into the 2022 midterms", "Waldemar Nielsen, Expert on Philanthropy, Dies at 88", "Soros: In revolutionary times the impossible becomes possible", "Saving Soviet Science: The Impact of Grants When Government R&D Funding Disappears", "World: Soros Says Revolutions Don't Build Democracies", "Alexander Lomaia Minister of Education and Science (Georgia)", "Does Foreign Funding Make NGOs into Puppets? Tivadar saved not only his immediate family but also many other Hungarian Jews, and Soros later wrote that 1944 had been "the happiest [year] of his life," for it had given him the opportunity to witness his father's heroism. He was also known as a powerful and influential supporter of liberal social causes. George Soros[a] HonFBA (born Gyrgy Schwartz, August 12, 1930)[1][2] is a Hungarian-American[b] businessman and philanthropist. I very often used to get backaches due to the fact that I was wrong. Reflexivity is based on three main ideas:[60]. The people at Reuters are very sorry. In 1969, Soros set up the Double Eagle hedge fund with $4m of investors' capital including $250,000 of his own money. Reuters Publishes George Soros Obituary In Error News agency declares billionaire financier dead before removing article after 30 minutes. "[199] In November 2015, Russia banned the Open Society Foundations (OSF) and the Open Society Institute (OSI)two pro-democracy charities founded by Sorosstating they posed a "threat to the foundations of the constitutional system of the Russian Federation and the security of the state. 2017. vi LXXVI. This was further amplified by public policy. Billionaire George Soros is a finance legend who has sparked a lot of absurd fantasies. [175] The campaign was estimated to have cost 5.7bn forints (then US$21million). [195] He holds that Europe is facing an existential crisis, in view of the rise of populism, the refugee crisis and a growing rift between Europe and the United States. [172] Soros called Steinmetz's suit "frivolous and entirely false" and said that it was "a desperate PR stunt meant to deflect attention from BSGR's mounting legal problems across multiple jurisdictions". George Soros, the Jewish-American financier and liberal philanthropist, has been attacked by prominent right-wing Jews in addition to being a target of anti-Semites. Soros has been active as a philanthropist since the 1970s, when he began providing funds to help black students attend the University of Cape Town in apartheid South Africa,[106] and began funding dissident movements behind the Iron Curtain. I did it first in The Alchemy of Finance (in 1987), then in The Crisis of Global Capitalism (in 1998), and now in this book. The government also prepared a three-part law plan called the "Stop Soros package" (which followed other various law changes[119] in the same year, hindering the workings of several international NGOs in Hungary), which would include various steps against NGOs doing volunteer work related to the refugee crisis. [242], In 2008, Soros was inducted into Institutional Investors Alpha's Hedge Fund Manager Hall of Fame along with Alfred Jones, Bruce Kovner, David Swensen, Jack Nash, James Simons, Julian Roberston, Kenneth Griffin, Leon Levy, Louis Bacon, Michael Steinhardt, Paul Tudor Jones, Seth Klarman and Steven A. He is known as "The Man Who Broke the Bank of England" because of his US$1 billion in investment profits during the 1992 Black Wednesday UK currency . [214], Time magazine in 2007 cited two specific projects$100million toward Internet infrastructure for regional Russian universities, and $50million for the Millennium Promise to eradicate extreme poverty in Africanoting that Soros had given $742million to projects in the U.S., and given away a total of more than $7billion.[215]. [22] He influenced the Fall of Communism in Eastern Europe in the late 1980s and early 1990s,[23] and provided one of Europe's largest higher education endowments to the Central European University in his Hungarian hometown. Neither Israel's policies nor the critics of those policies should be held responsible for anti-Semitism. In 1960, he married Annaliese Witschak (born January 3, 1934). [49] When he was 17, Soros relocated to Paris before eventually moving to England. [60] Lenders began to make more money available to more people in the 1990s to buy houses. Soros replied, "Well, I had a variety of jobs and I ended up selling fancy goods on the seaside, souvenir shops, and I thought, that's really not what I was cut out to do. And the rest of the world has to respond to that agenda. Born in Budapest in 1930, Soros survived the Nazi occupation of Hungary and moved to Britain after the Second World War. SOS seeks to present "questions and answers about the way Soros operates worldwide" and invites citizens to contribute to the research. ", "Brexiteers and alt-right unite against 'globalist' billionaire George Soros", "Philosophy, Reflexivity the Pillars of George Soros' Investment Success", "The Money Man: Can George Soros's millions insure the defeat of President Bush? Just how influential is billionaire philanthropist George Soros? [44] The Nazis barred Jewish children from attending school, and Soros and the other schoolchildren were made to report to the Judenrat ("Jewish Council"), which had been established during the occupation. Recognising this, Chinese financial authorities have gone out of their way to reassure foreign investors and markets have responded with a powerful rally. [2] [3] He is best known for being the father of billionaire George Soros, and engineer Paul Soros . Conversely, George Soros cannot be a financial shark who uses his immense wealth to influence politics, he must be devil-like figure, even a Nazi collaborator. It allows us to focus on the final outcome rather than the process that leads up to it. George Soros, "Bitter Thoughts with Faith in Russia". [26][27][28][29] Conspiracy theories targeting Soros, who is of Jewish descent, have often been described as antisemitic. (Photo: Sean Gallup/Getty Images. George Soros, "On Israel, America and AIPAC". Who is George Soros? As George Floyd protests swept the country, so did George Soros conspiracy theories. He's one of the great hedge fund managers and is arguably the most successful currency speculator in history; he is a major political donor; and he has given billions to his charity, the Open. He did so, but much later.)[81]. [19] Between 1979 and 2011, he donated more than $11billion to various philanthropic causes;[20][21] by 2017, his donations "on civil initiatives to reduce poverty and increase transparency, and on scholarships and universities around the world" totaled $12 billion. The family changed its surname to Soros in 1936 because Jews were being persecuted. A statement on Reuters website reads: Reuters erroneously published an advance obituary of financier and philanthropist George Soros. [74] The estimated cost of Black Wednesday to the UK Treasury was 3.4billion. None of the devices exploded. Kaufman, Michael T., Soros: The Life and Times of a Messianic Billionaire, Chapter 8. Egan, Mark; Nichols, Michelle (October 13, 2011). [97][98] Larry Krasner was elected as the District Attorney of Philadelphia with the help of a $1.5million ad campaign funded by Soros in 2017. [174], In July 2017, a Hungarian billboard campaign backed by Prime Minister Viktor Orbn, which was considered to be anti-semitic by the country's Jewish groups, vilified Soros as an enemy of the state, using the slogan "Let's not allow Soros to have the last laugh". Some Republican lawmakers suggested that they might move to revoke Major League Baseball's antitrust exemption if Soros bought the team. "[54], In 1954, Soros began his financial career at the merchant bank Singer & Friedlander of London. "Financial markets always move forward, and the same is true of history," Soros says in the film. In 1997, during the Asian financial crisis, the prime minister of Malaysia, Mahathir Mohamad, accused Soros of using the wealth under his control to punish the Association of Southeast Asian Nations (ASEAN) for welcoming Myanmar as a member. Andrea Soros Colombel (born June 11, 1965): The founder and president of Trace Foundation, established in 1993 to promote the cultural continuity and sustainable development of. [207], In July 2015, Soros stated that Putin's annexation of Crimea was a challenge to the "prevailing world order," specifically the European Union. [3][219], On October 17, 2017, it was announced that Soros had transferred $18 billion to the Open Society Foundations. Videos", Soros sees no bottom for world financial "collapse", "George Soros Sees Crisis in Global Markets That Echoes 2008", "Soros: It's the 2008 crisis all over again", "Hacked Soros e-mails reveal plans to fight Israel's 'racist' policies", "Soros Hack Reveals Evidence of Systemic Anti-Israel Bias", "DC Leaks Publishes George Soros' Files Showing Millions Contributed to Anti-Israel Causes", "Soros Says Jews And Israel Cause Anti-Semitism", George Soros battles $10B lawsuit, familiar charges of wielding political influence, Mining Company Sues George Soros for $10 Billion, Soros Sued by Fellow Billionaire in $10 Billion Mine Brawl, Israeli Billionaire Beny Steinmetz Detained in Investigation, Soros Calls $10 Billion Steinmetz Mine Suit a 'Frivolous' Stunt, The Night George Soros Stood In For Nobelist Holocaust Survivor Imre Kertesz, "George Soros upset by 'antisemitic' campaign against him in Hungary", "Hungary vilifies financier Soros with crude poster campaign", "Israel backs Hungary, says financier Soros is a threat", "Hungarian Jews ask PM Orban to end 'bad dream' of anti-Semitism", "On Netanyahu's Orders: Israel's Foreign Ministry Retracts Criticism of anti-Semitism in Hungary and Slams George Soros", "George Soros Bet Big on Liberal Democracy. "George Soros, who died XXX at age XXX, was a predatory and hugely successful financier and investor, who argued paradoxically for years against the same sort of free-wheeling capitalism that. [243], In January 2014, Soros was ranked number 1 in LCH Investments list of top 20 managers having posting gains of almost $42 billion since the launch of his Quantum Endowment Fund in 1973. According to anthropologist Ivan Kalmar, "Many of his most outspoken enemies inside and outside Hungary saw him as leading an international cabal that included other Jews such as the Rothschilds, as well as Freemasons and Illuminati. He instantly recognized it. [231], Soros's older brother Paul Soros, a private investor and philanthropist, died on June 15, 2013. Chinese state media responded by stating "Soros' challenge to the RMB and Hong Kong dollar are doomed to fail, without any doubt. Here's a timeline of George Soros conspiracy theories", "George Soros is a favorite target of the right here's how that happened", "George Soros and the roots of antisemitism", "A secret plot to stop Brexit, or an antisemitic dog whistle? Here's a screenshot of the obit's first few paragraphs: The obituary goes on to explain that Soros, who is Jewish and was born in 1930, "survived World War Two and then emigrated to Great. [8][9] As of March2021[update], he had a net worth of US$8.6 billion,[10][11] having donated more than $32 billion to the Open Society Foundations,[12] of which $15 billion has already been distributed, representing 64% of his original fortune. During this period, Soros developed the theory of reflexivity to extend the ideas of his tutor at the London School of Economics, Karl Popper. He was born into an Orthodox Jewish family in Nyrbakta, Hungary, near the border with Ukraine. In a 2018 interview with The New York Times, Alex Soros, the son of George Soros, when asked about why his father fights for an open society, Soros replied that in a non-Jewish state, a Jew can only feel safe when other minorities are protected, which is one of most important driving forces why his father has been active in his philanthropy: But he had always "identified firstly as a Jew," and his philanthropy was ultimately an expression of his Jewish identity, in that he felt a solidarity with other minority groups and also because he recognized that a Jew could only truly be safe in a world in which all minorities were protected. He spent the years from 1963 to 1966 with his main focus on the revision of his philosophy dissertation. George Soros, (born August 12, 1930, Budapest, Hungary), Hungarian-born American financier, author, philanthropist, and activist whose success as an investor made him one of the wealthiest men in the world. [51] While a student of the philosopher Karl Popper, Soros worked as a railway porter and as a waiter, and once received 40 from a Quaker charity. [230] Bolton is the daughter of a Japanese-American nurse and a retired naval commander, Robert Bolton. These further encouraged house purchases, leading to further price rises and further relaxation of lending standards. Soros has popularized the concepts of dynamic disequilibrium, static disequilibrium, and near-equilibrium conditions. [217], Soros played a role in the peaceful transition from communism to democracy in Hungary (198489)[23] and provided a substantial endowment to Central European University in Budapest. With a history of antisemitic remarks, Mahathir made specific reference to Soros's Jewish background ("It is a Jew who triggered the currency plunge")[79] and implied Soros was orchestrating the crash as part of a larger Jewish conspiracy. At 5:41 p.m. on Thursday afternoon, the 162-year-old news agency accidentally published a prewritten obituary for Soros, complete with dummy text for the place and . George Soros launches attack on Chinese president Xi. By September 16, 1992, the day of Black Wednesday, Soros's fund had sold short more than $10billion in pounds,[65] profiting from the UK government's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or float its currency. He received an honorary degree in economics from the University of Bologna in 1995. As a hedge fund manager and currency trader, George Soros made a ton of money, most of which he's given away, placing him far below the latest right-wing hero, Elon Musk, among the world's . So it's three books predicting disaster. Share. with a lead stating that the Occupy Wall Street movement "may have benefited indirectly from the largesse of one of the world's richest men [Soros]." [223] They divorced in 1983. At 17, George moved to London and wound up at the prestigious London School of Economics. [169][170][171] Steinmetz claims that Soros engaged in a "smear" campaign against him and his companies and blames Soros for scrutiny of him by American, Israeli, Swiss, and Guinean authorities. He. Give this article. [162] He has funded NGOs which have been actively critical of Israeli policies[163][164][165] including groups that campaign for the Boycott, Divestment and Sanctions movement against Israel. These efforts, mostly in Central and Eastern Europe, occur primarily through the Open Society Foundations (originally Open Society Institute or OSI) and national Soros Foundations, which sometimes go under other names (such as the Stefan Batory Foundation in Poland). George Soros was born George Schwartz, a Hungarian Jew. [100] Soros gave $2 million to a PAC supporting Kim Foxx's campaign for Cook County State's Attorney in 2020. (Published 2018)", Deep Pockets vs. Bush, Financier Contributes $5 Million More in Effort to Oust President, "Why We Must Not Re-elect President Bush", "Soros Says Markets to Slump With Trump, EU Faces Disintegration", George Soros: Theresa May won't last and Donald Trump is 'would-be dictator', "As concerned Europeans we urge Eurozone leaders to unite", Orban Accuses Soros of Stoking Refugee Wave to Weaken Europe, "Pro-EU campaign secures 400,000 from George Soros", "George Soros donates 400,000 to anti-Brexit campaign", "George Soros's Plan to Fix Europe: DealBook Briefing", "Soros has warned that the US-Europe alliance 'destruction' may cause major crisis", "How to save Europe.
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