The Open Society Foundations is an organization that promotes democracy in countries all over the world. The organization confirmed the large donation it gave on Tuesday. An official from the foundation talked to CNNMoney through an emailed statement saying that the move is a reflection of an ongoing process of asset transfer that has been in the process for several years. The Wall Street Journal first reported on the transfer of funds.
According to the Society’s websites, it has outposts in over 100 countries. The foundation works to fight authoritarianism, help marginalized groups such as the minorities, refugees, and LGBT community, and promote human rights. The official also added that George Soros has plans to leave all his wealth to the Open Society Foundations. The billionaire has given close to $18 billion to the Open Society Foundations in the last few years, which makes it one of the largest philanthropic organizations in the world. The money originates from the personal wealth of George Soros. The donation makes it one of the top charitable organizations in the world.
About Open Society Foundations
The organization was founded in 1979 in Hungary after George Soros realized that he had accumulated enough money for philanthropy. It is a network of partners, foundations, and projects in close to 100 countries. He established the Open Society Foundations in the US in 1993. The name of the charity is a reflection of the thinking of Soros of Karl Popper’s philosophy, which Soros first encountered when he was at the London School of Economics. The society is formed on a belief that imperfect things or situations can be enhanced. George Soros once wrote that his success on the financial markets gave him a greater degree of independence as compared to many other people.
George has spent about $14 billion donating some hosts of programs around the globe such as public health efforts and refugee relief. The 2017 budget for Open Society is $941 million. Its donations are organized around ten themes such as education, the rule of law, early childhood, justice reforms, and human rights movements organizations.
About George Soros
George Soros is a Jewish who fled Hungary for Britain in the 1940s. He was escaping the Nazi occupation that was taking place in Hungary during that time. Soro’s family later moved to the US where he became the top most successful investors in the world. Soros believes that since he experienced intolerance first hand and managed to escape and help others do the same, he is best suited to help other minorities through his philanthropic deeds. He is involved in several charitable acts. George has donated over $30 billion to different causes.
George is a well-known donor to Democrats in the US and liberal causes. George is President Donald Trump’s outspoken critic. The Open Society Foundations has increased its efforts to help victims of hate crimes in the months since Donald Trump was elected the president. Soros launched his hedge fund after gaining experience. He established Soros Fund Management in 1970 and Follow him Twitter.com.