There are many people who will be more familiar with George Soros as a political bogeyman. However, Soros is a real person. Furthermore, he is willing to back his liberal politics with both his enormous wealth and his enormous influence as a billionaire, which explains a lot about how he ended up as a political bogeyman. Regardless, Soros is believed to have a current net worth of more than $ 8 billion. Which is particularly impressive because he donated $ 18 billion to the charity collection called Open Society Foundations in October 2017.
|Net worth||$ 8.3 billion|
|Date of birth||August 12, 1930|
|Richness’ fountain||Hungarian-American investor and philanthropist|
|Country||Kingdom of Hungary|
How did George Soros reach his current net worth?
For those unfamiliar, Soros was born into a prosperous Jewish family in the Kingdom of Hungary. Like many other upper-middle-class Hungarian Jews in those days, they were not very comfortable with their roots, which presumably influenced their not being observant. However, it should be mentioned that there was also an element of mixing, which was critical because Hungary was becoming increasingly anti-Semitic in the run-up to WWII. In fact, the Soros family changed their surname from the German-Jewish-sounding Schwartz to the Hungarian-sounding Soros for this precise purpose.
In March 1944, Nazi Germany occupied Hungary. There were some Hungarian Jews who deluded themselves into thinking that they could save themselves from the Holocaust by somehow placating the Nazis, but Soros’s father, Tivadar Soros, was not one of them. Instead, he ensured the survival of his family by obtaining documents that said they were Christians rather than Jews. In addition, he obtained even more documents before selling them to others based on his means and circumstances, thus helping them to survive as well. In addition to this, Tivadar Soros divided the family so that even if one of the family members were captured, the others would still have a chance to survive the war. This is the period when Soros pretended to be the godson of a Hungarian agricultural official, who had a Jewish wife who had to go into hiding. Something that has been used to smear him as a Nazi collaborator by a disturbing number of conspiracy theorists.
Still, Soros survived the war, and that’s how he was able to emigrate to England, where he became a student at the prestigious London School of Economics. In those days, he had to work as a waiter and as a doorman for a living. However, it is interesting to note that some of his current political views were already in place, as evidenced by how he sometimes stood at Speakers’ Corner for the purpose of praising internationalism in the Esperanto constructed language. In this, it seems safe to say that Tivadar Soros had a great influence on his son, as he was a great fan of Esperanto.
Eventually, Soros managed to get a job at a merchant bank out of sheer persistence, which in his case involved writing to all the CEOs of all commercial banks throughout London. From there, he entered the field of arbitration. For those unfamiliar, arbitrage is the practice of making money by capitalizing on price differences in two or more markets, which can be very lucrative for those who can act quickly enough when they become aware of such circumstances. Over time, Soros entered the investment world, resulting in the eventual creation of the highly successful Soros Fund Management.
As Soros accumulated his wealth, he also accumulated his influences, so much so that he is sometimes seen as someone who can have a notable impact on national economies. An example would be his famous short position on the British pound in the months leading up to September 1992, which was based on his perception that the UK had a very unfavorable position on the European Exchange Rate Mechanism. It turned out that Soros was right, and that’s how he walked away with over a billion in profit in exchange for being labeled the man who broke the Bank of England. In addition to this, there was a time when Malaysian Prime Minister Mahathir bin Mohamad accused Soros of using his wealth to punish ASEAN countries for accepting Myanmar’s membership during the Asian financial crisis at the end of the decade. 1990. That indictment was largely an example of anti-Semitism, which is perhaps not surprising considering that the individual already had an extensive record of doing …