George Soros, a Hungarian-American investor and 19th richest person in the world, recently donated hefty sum of $18 billion to his philanthropic foundation, Open Society Foundations. The picture is not related to the news. [Courtesy of Pixabay]
The billionaire investor George Soros was the 19th richest person in the world as of February 2017. His net worth is estimated at $25.2 billion.
The Hungarian-born American investor survived Nazi-era in his home country before moving to England in 1947. He started building his career in the business world in the U.K. as he was getting the education.
Soros is known for his liberal beliefs and his philanthropic foundation, Open Society Foundations, that is known for its activism. It works to "built vibrant and tolerant democracies."
He recently tweeted that he donated $18 billion of his wealth to his foundation, making the organization the second wealthiest to Bill and Melinda Gates' Foundation that has $40 billion in assets. This new infused wealth is expected to give more strength to Open Society Foundations.
The 87-year-old billionaire will transfer additional $2 billion after this year, The New York Times reported.
Soros has long been the supporter of the American Democratic party though he did not actively show his color until 2004 presidential election. He has also been strongly opposing Trump and his administration since the election.
Open Society Foundations did not make a statement yet on how it will utilize the recent donations from Soros.
Kwak, Min Jun = abiel@ajunews.com
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