George Soros: Advocate for Freedom & Success

January 18th, 2017

Business magnate George Soros had an early life comprised of freedom struggles, poverty, and a difficult climb up the corporate ladder in the finance industry. Born August 12, 1930, in Budapest, Hungary as Schwartz Gyorgy, Soros was the son of a lawyer and writer. At the age of 14, the Nazis had occupied Hungary and was targeting Jewish children. Soros went into hiding and eventually lived as an unofficial adoptee of a Hungarian government employee to avoid persecution.

With very little financial support, Soros left his home country for England to study at the London School of Economics, earning a Ph.D. in philosophy after years of supporting himself as a waiter, railway porter, and salesman. His career as a financier began in 1954 with an entry-level job as a clerk at the merchant bank Singer & Friedlander of London. After gaining experience in the arbitrage department on biography.com, Soros moved to New York in 1956 and became an arbitrage trader for F.M. Mayer, specializing in European stocks.

Soros continued his career by accepting a position with Wertheim & Co. in 1959 as a European securities analyst. A former student of philosopher Karl Popper, George Soros incorporated in his business practices by devising the Theory of Reflexivity for Economics. The theory states that market values are based on the ideas of its participants in addition to the economic fundamentals that are present. Ideas influence actions and actions influence ideas, resulting in a symbiotic relationship.

Soros’ fund management experience was acquired during his ten-year tenure as Vice President of Arnhold and S. Bleichroeder. From 1963 to 1973, he created First Eagle Funds (1967) and the Double Eagle hedge fund (1969), leading to the formation of his first company, Soros Fund Management in 1970 at http://www.nytimes.com/topic/person/george-soros. Soros Fund Management catapulted Soros’ net worth exponentially over the past four decades and has generated over $40 billion, making him one of the 30 richest people in the world.

A privately-held investment management firm based out of New York City, Soros Fund Management is the primary advisor to Quantum Group, an international company which focuses on:

– Public and private equity
– Foreign exchange
– Currency
– Fixed income markets
– Commodities
– Venture capital

George Soros has used profits from his management firm to establish the Open Society Foundations, a philanthropic organization dedicated to the support of democracy and human rights in more than 100 countries. Major projects by the foundation include:

– Scholarships for black students to attend the University of Cape Town in apartheid South Africa
– Research funding for scientists and educators in Africa and Europe
– Relief funding for oppressed civilians during the Siege of Sarajevo

Soros has authored over a dozen books on Time.com and has published several articles in discussions of his views on politics, economics, globalization, philanthropy, and the human condition. Recently, he addressed the European Union regarding financial assistance to the Ukraine.

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