George Soros
speculator, investor, philanthropist, political activist
George Soros
George Soros is a Hungarian-American business magnate, investor, and philanthropist. He is the chairman of Soros Fund Management. Soros supports progressive-liberal causes. 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 crisis. Between 1979 and 2011, Soros gave away over $8 billion to human rights, public health, and education causes.
Biography
George Soros's personal information overview.
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News
News abour George Soros from around the web
Sean Hannity's 'Question Of The Day' Quickly Spirals Out Of Control
Huffington Post - 4 days
Sean Hannity asked his Twitter followers a question about President Donald Trump on Tuesday. Question of the Day: Do you think the left is trying to destroy the Trump Presidency? #Hannity — Sean Hannity (@seanhannity) February 15, 2017 Naturally, plenty of the Fox News host’s followers blamed the left, the media, former President Barack Obama, the Republican Party and even business magnate George Soros for Trump’s troubles. But not everyone stuck to the script.  Before long, plenty of people were chiming in with some other opinions on what was bringing Trump down ― and it was not the left. Here’s a sampling: .@seanhannity Answer of the Day: Nope. He can do that all by himself. — Howard Sherman (@hsherman) February 15, 2017 @seanhannity Trump is self-destructing, bigly. The question is who'll be the 1st on Team Trump to take a #trumpgate immunity deal? #Hannity — The Right is Wrong (@therightswrong) February 15, 2017 ...
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Huffington Post article
Report alleges George Soros is meddling in foreign affairs
Fox News - 5 days
Soross pull in Macedonia
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Fox News article
Liberals, Republicans, and the Jews Between Them
Huffington Post - 6 days
Donald Trump signs orders to green-light the Keystone XL and Dakota Access pipelines. Source: Donald Trump's Twitter Account US Jewry stands out more than any Jewish community in history. They will determine if this works for them or against them. For several months now, I have been writing about the exposure of the totalitarian nature of today's liberalism, the manipulation of public opinion through the media, and the necessity of American society to embrace all views, not only all colors and ethnicities. During those months, the divide between Democrats and Republicans has only deepened. If we could still hope that the demeaning attitudes toward the other side, the personal offenses, and the delegitimization campaigns would abate after the election, now that hope is gone. The entire left-hand column of The New York Times home page has become a section titled, "The 45th President," and is dedicated entirely to bashing Donald Trump and the Republican Party. CNN has also created a ...
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Huffington Post article
Hungary's Orban renews attack on influence of George Soros
Yahoo News - 9 days
BUDAPEST, Hungary (AP) — Hungary's populist prime minister on Friday lashed out against billionaire financier George Soros, claiming he and groups backed by him want to secretly influence the country's politics.
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Yahoo News article
Americans Like the Resistance a Lot More Than They Like Trump
Huffington Post - 11 days
For Donald Trump, this has got to hurt: Less than two weeks after his inauguration, the people who took to the streets to protest his policies have outstripped him in popularity. And, given his rich history of "locker room banter" and other sexist comments, it must be especially humiliating for Trump to know that the biggest mobilizations of protesters who bested him were led by women. A Popular Front The numbers are irrefutable. Trump's approval rating has sunk to a historically low 42 percent, according to Gallup, yet 60 percent of the public approved of the women's marches, a Washington Post poll found. Only 29 percent of those polled disapproved of the anti-Trump marchers yet 54 percent disapproved of Trump's performance as president. In an even more startling finding, Public Policy Polling found in late January that 40 percent of voters thought Trump ought to be impeached. They don't like you, Mr. President. They really don't like you. Source: Gallup daily tracki ...
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Huffington Post article
George Soros says Trump will fail and market's dream will end
Reuters.com - about 1 month
(Reuters) - The billionaire investor George Soros said on Thursday that global markets will falter given the uncertainty of incoming U.S. President Donald Trump's policies.
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Reuters.com article
Hungary set to turn screws on Soros-backed NGOs
Yahoo News - about 1 month
Hungarian NGOs have long felt the heat under strongman Prime Minister Viktor Orban -- but they now fear that, emboldened by Donald Trump's victory, the right-wing premier will turn the screws even tighter. First in line may be groups backed by Hungarian-born billionaire financier George Soros, whose foundation once funded the Oxford studies of a young Orban more than 25 years ago. Last week the deputy head of Orban's ruling party Fidesz, in power since 2010, said that non-governmental organisations should be "cleaned out of here".
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Yahoo News article
Vitória de Trump leva George Soros a perder US$ 1 bilhão
Wall Street Journal - about 1 month
O administrador bilionário de fundos de hedge George Soros perdeu quase US$ 1 bilhão em decorrência da alta das ações causada pela surpreendente vitória de Donald Trump na eleição presidencial americana. Soros se tornou mais pessimista em suas apostas imediatamente após a eleição de Trump, de acordo com pessoas a par do assunto, o que acabou sendo um erro.
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Wall Street Journal article
5 Ways Foundations And Wealthy Donors Can Combat The Trump Agenda
Huffington Post - about 2 months
Donald Trump's election as the next U.S. president represents the victory of a reactionary, hard-right agenda that threatens to overturn decades of progress on important social and environmental issues. But groups and individuals are beginning to organize against the most damaging aspects of Trump's politics. A resistance is forming, and it needs and deserves the support of our nation's foundations and wealthy donors. Here are five ways people who control substantial financial resources can be partners in combating the Trump agenda. 1. Invest in a broad-based resistance. Donors need to make sure that the ecosystem of organizations making up the resistance have the resources to win. These groups range from scrappy grassroots organizations, including those that don't have 501(c)3 status, to larger, more sophisticated groups. An effective resistance will require strong, healthy nonprofit organizations of varying sizes across the country, not just in a few targeted states. T ...
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Huffington Post article
How To Get Into The Conspiracy Theory Game
Huffington Post - 2 months
The internet is great, right? It provides a ton of information to anyone who wants it. But how that information is used can cause problems.  Being a member of the very shadowy liberal “lamestream” media, I admit freely that I spend most of my time trying to compromise freedom and help the Illuminati ― we just call them “Lou” though. It’s tough with you sharp conspiracy folks, shedding light on all the stuff we’re doing in the name of pure evil. I miss a lot of texts from George Soros because of how on top of the latest theories I have to be. So I decided to write a quick guide based on all my research to help the next generation of conspiracy theorists reach the top of their game! -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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Huffington Post article
Steven Mnuchin Worked At Goldman Sachs, But You Wouldn't Know It From His GOP Bio
The Huffington Post - 2 months
The official GOP biography of Steven Mnuchin, which appeared on the Republican National Committee’s website earlier this week, has some interesting gaps. Mnuchin, President-elect Donald Trump’s nominee for secretary of the Treasury, spent 17 years working at Goldman Sachs ― where, like his father before him, he became a partner. He also worked for hedge fund manager George Soros, founded a hedge fund of his own and was the lead investor in IndyMac, a failed subprime lender that turned into a “foreclosure machine” during the housing crisis. More...
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The Huffington Post article
Why I'm Angry
Huffington Post - 3 months
Maybe you’ve heard of the “Five Stages of Grief.” First, there’s shock and denial. That’s what I experienced on election night. “This isn’t happening. This can’t be happening.” After that comes anger. And next—well, I don’t know what comes next. I haven’t moved past the anger phase personally. Let me tell you why I’m angry. I’m angry at FBI Director Jim Comey. There was a wide consensus among pollsters that on October 26 Hillary Clinton had an electoral majority. While Hillary aimed to turn out the Obama coalition, she had also made impressive inroads with college-educated whites, a cohort Democrats historically lose. And she was running strong with them, up by 12 points, until Comey’s reckless and unprecedented intrusion into the election. The email story followed a familiar pattern. Hillary’s support dipped whenever the email controversy was in the news. As soon as the story faded from the headlines, people dismissed it, and she recovered. We built up a strong ...
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Huffington Post article
Get Ready For The New York Observer To Become Donald Trump's Garbage Tribune
Huffington Post - 3 months
If you think about the storied history of the New York Observer ― which since 1987 has been one of New York City’s best-read weekly newspapers ― you might wonder what many of its former editors (Peter Kaplan and Elizabeth Spiers come to mind) would have made of a Donald Trump presidency. In all likelihood, their reaction would have been something like mordant concern lit by the flash of crashing rapiers. But with the paper under the control of Trump-kin-by-marriage publisher Jared Kushner and Trump campaign aide-de-camp editor Ken Kurson, it’s rather clear that the Observer is set to become some sort of garbage tribune, serving the president-elect with the devotion of a Kim Jong Un sycophant. At first blush, the Observer would look like an unlikely herald for a Trump World Order. After all, it has historically been a tidy chronicle of Manhattan’s mostly liberal elites and their doings, pitched to an audience of mostly liberal Manhattanites climbing society’s ladders at slightly lowe ...
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Huffington Post article
Timeline
Learn about memorable moments in the evolution of George Soros
    LATE_ADULTHOOD
  • 2016
    Age 85
    In January 2016, 53 books related to Soros' "Renewal of Humanitarian Education" program were burned at Vorkuta Mining and Economic College in the Komi Republic with 427 additional books seized for shredding.
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    In January 2016, during an interview at the World Economic Forum (WEF) in Davos, Soros stated that "a hard landing is practically unavoidable."
    More Details Hide Details Chinese state media responded by stating "Soros’ challenge to the RMB and Hong Kong dollar are doomed to fail, without any doubt." In May 2014 Soros told CNN's Fareed Zakaria: "I set up a foundation in Ukraine before Ukraine became independent from Russia. And the foundation has been functioning ever since and played an important part in events now."
    In January 2016 at an economic forum in Sri Lanka, Soros predicted a financial crisis akin to 2008 based on the state of global currency, stock and commodity markets as well as the sinking Chinese yuan.
    More Details Hide Details In 1988 Soros was interested in purchasing shares in French companies. The Socialist party had lost its majority of seats in the Assembly in 1986, and the new government under Jacques Chirac had instituted an aggressive privatization program. Many people considered shares in the newly privatized companies undervalued. During this period, a French financier named Georges Pébereau contacted one of Soros's advisers in an effort to assemble a group of investors to purchase a large number of shares in Société Générale, a leading French bank that was part of the program. The adviser reported to Soros that Pébereau's plan was ambiguous and included an implausible takeover plan, which later failed. On that advice, and without ever having met the financier, Soros decided against participating. Soros did, however, move forward with his strategy of accumulating shares in four French companies: Société Générale, as well as Suez, Paribas, and the Compagnie Générale d'Électricité. In 1989 the Commission des Opérations de Bourse (COB—the French stock exchange regulatory authority) conducted an investigation of whether Soros's transaction in Société Générale should be considered insider trading. Soros had received no information from the Société Générale and had no insider knowledge of the business, but he did possess knowledge that a group of investors was planning a takeover attempt. The COB concluded that the statutes, regulations, and case law relating to insider trading did not clearly establish that a crime had occurred and that no charges should be brought against Soros.
  • 2015
    Age 84
    In July 2015, Soros stated that a "strategic partnership between the US and China could prevent the evolution of two power blocks that may be drawn into military conflict."
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    Soros criticized Hungarian Prime Minister Viktor Orban and his handling of the European migrant crisis in 2015: "His plan treats the protection of national borders as the objective and the refugees as an obstacle.
    More Details Hide Details Our plan treats the protection of refugees as the objective and national borders as the obstacle." Soros has expressed concern about the growth of Chinese economic and political power saying, "China has risen very rapidly by looking out for its own interests. They have now got to accept responsibility for world order and the interests of other people as well." Regarding the political gridlock in America, he said, "Today, China has not only a more vigorous economy, but actually a better functioning government than the United States."
    In June 2015, he donated $1 million to the Super PAC Priorities USA Action, which supports Hillary Clinton in the 2016 presidential race. Since then he has donated an additional $6 million to the PAC to support Clinton. In August 2014, riots and protests ensued as a result of the fatal shooting of Michael Brown by police officer Darren Wilson.
    More Details Hide Details Soros began funding the grass-roots, on the grounds activists in Ferguson, Missouri and subsequently helped developed the Black Lives Matter movement from a hashtag into a social media phenomenon with the assistance of national civil rights organizations. According to Waldemar A. Nielsen, an authority on American philanthropy, "Soros has undertaken... nothing less than to open up the once-closed communist societies of Eastern Europe to a free flow of ideas and scientific knowledge from the outside world." From 1979, as an advocate of 'open societies', Soros financially supported dissidents including Poland's Solidarity movement, Charter 77 in Czechoslovakia and Andrei Sakharov in the Soviet Union. In 1984, he founded his first Open Society Institute in Hungary with a budget of $3 million. Since the fall of the Soviet Union, Soros's funding has continued to play an important role in the former Soviet sphere. His funding of prodemocratic programs in Georgia was considered by Russian and Western observers to be crucial to the success of the Rose Revolution, although Soros has said that his role has been "greatly exaggerated". Alexander Lomaia, Secretary of the Georgian Security Council and former Minister of Education and Science, is a former Executive Director of the Open Society Georgia Foundation (Soros Foundation), overseeing a staff of 50 and a budget of $2.5 million.
    A Russian intergovernmental letter released in December 2015 stated that Soros' charities were "forming a perverted perception of history and making ideological directives, alien to Russian ideology, popular."
    More Details Hide Details In July 2014 Forbes listed Soros as the 27th richest person in the world, the world's richest hedge-fund manager, and 7th on its list of the 400 wealthiest Americans, with a net worth estimated at $23 billion. Deputy Prime Minister István Stumpf—now a member of the Constitutional Court—was a member of Soros Foundation's Board of Trustees between 1994 and 2002. In 1936 Soros's family changed their name from Schwartz to Soros, in response to growing antisemitism with the rise of fascism. Tivadar liked the new name because it is a palindrome and because of its meaning. Although the specific meaning is left unstated in Kaufman's biography, in Hungarian, soros means "next in line", or "designated successor"; and, in Esperanto, it means "will soar".
    In November 2015, Russia banned the Open Society Foundations (OSF) and the Open Society Institute (OSI)-- two pro-democracy charities founded by Soros—stating they posed as "threat to the foundations of the constitutional system of the Russian Federation and the security of the state."
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    In July 2015, Soros stated that Putin's annexation of Crimea was a challenge to the "prevailing world order," specifically the European Union.
    More Details Hide Details 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."
    In January 2015, Soros called on the European Union to give $50 billion of bailout money to Ukraine.
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    In January 2015 Soros said that "Europe needs to wake up and recognize that it is under attack from Russia."
    More Details Hide Details He also urged Western countries to expand economic sanctions against Russia for its support of separatists in eastern Ukraine.
  • 2013
    Age 82
    In October 2013, Soros donated $25,000 to Ready for Hillary, becoming a co-chairman of the super PAC's national finance committee.
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    Soros's elder brother Paul Soros, a private investor and philanthropist, died on June 15, 2013.
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  • 2012
    Age 81
    On September 27, 2012, Soros announced that he was donating $1 million to the super PAC backing President Barack Obama's reelection Priorities USA Action.
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  • 2010
    Age 79
    Reuters' follow-up article also reported a Soros spokesman and Adbusters' co-founder Kalle Lasn both saying that Adbusters—the reputed catalyst for the first Occupy Wall Street protests—had never received any contributions from Soros, contrary to Reuters' earlier story that reported that "indirect financial links" existed between the two as late as 2010.
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    On October 26, 2010, Soros donated $1 million, the largest donation in the campaign, to the Drug Policy Alliance to fund Proposition 19, that would have legalized marijuana in the state of California if it had passed in the November 2, 2010 elections.
    More Details Hide Details In October 2011 a Reuters story, "Soros: not a funder of Wall Street protests", was published after several commentators pointed out errors in an earlier Reuters story headlined "Who's behind the Wall St. protests?" with a lede stating that the Occupy Wall Street movement "may have benefited indirectly from the largesse of one of the world's richest men Soros."
  • 2009
    Age 78
    In August 2009 Soros donated $35 million to the state of New York to be earmarked for underprivileged children and given to parents who had benefit cards at the rate of $200 per child aged 3 through 17, with no limit as to the number of children that qualified.
    More Details Hide Details An additional $140 million was put into the fund by the state of New York from money they had received from the 2009 federal recovery act.
    In June 2009, Soros donated $100 million to Central Europe and Eastern Europe to counter the impact of the economic crisis on the poor, voluntary groups and non-government organisations.
    More Details Hide Details The Open Society Initiative for Southern Africa is a Soros-affiliated organization. Its director for Zimbabwe is Godfrey Kanyenze, who also directs the Zimbabwe Congress of Trade Unions (ZCTU), which was the main force behind the founding of the Movement for Democratic Change, the principal indigenous organization promoting regime change in Zimbabwe. In November 2005, Soros said: "My personal opinion is there's no alternative but to give Kosovo independence." Soros has helped fund the non-profit group called Independent Diplomat. It represented Kosovo, the Turkish Republic of Northern Cyprus (under military occupation by Turkey since 1974), Somaliland and the Polisario Front of Western Sahara.
    In February 2009, Soros said the world financial system had in effect disintegrated, adding that there was no prospect of a near-term resolution to the crisis. "We witnessed the collapse of the financial system.
    More Details Hide Details It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."
  • 2008
    Age 77
    In 2008, Soros met his current wife, Tamiko Bolton, 42 years his junior; he married her on September 21, 2013.
    More Details Hide Details Bolton is the daughter of a Japanese-American nurse and a retired naval commander. She was raised in California, earned an MBA from the University of Miami, and runs an Internet-based dietary supplement and vitamin-sales company.
  • 2006
    Age 75
    Nine years later, in 2006, Mahathir met with Soros and afterward stated that he accepted that Soros had not been responsible for the crisis.
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    In a discussion at the Los Angeles World Affairs Council in 2006, Alvin Shuster, former foreign editor of the Los Angeles Times, asked Soros, "How does one go from an immigrant to a financier?...
    More Details Hide Details When did you realize that you knew how to make money?" 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. 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." That job was an entry-level position in Singer & Friedlander.
  • 2005
    Age 74
    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.
    More Details Hide Details Fraser and Soros separated in 2009.
  • 2004
    Age 73
    Soros was not a large donor to U.S. political causes until the 2004 presidential election, but according to the Center for Responsive Politics, during the 2003–04 election cycle, Soros donated $23,581,000 to various 527 Groups (tax-exempt groups under the United States tax code, 26 U.S.C. § 527).
    More Details Hide Details The groups aimed to defeat President Bush. After Bush's re-election 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.
    On September 28, 2004, he dedicated more money to the campaign and kicked off his own multistate tour with a speech: Why We Must Not Re-elect President Bush delivered at the National Press Club in Washington, D.C. The online transcript to this speech received many hits after Dick Cheney accidentally referred to FactCheck.org as "factcheck.com" in the vice presidential debate, causing the owner of that domain to redirect all traffic to Soros's site.
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    In the United States, Soros donated a large amount of money in an unsuccessful effort to defeat President George W. Bush's bid for re-election in 2004.
    More Details Hide Details In 2010 he donated $1 million in support of Proposition 19, which would have legalized marijuana in the state of California. He was an initial donor to the Center for American Progress, and he continues to support the organization through the Open Society Foundations. The Open Society Foundations has active programs in more than 60 countries around the world with total expenditures currently averaging approximately $600 million a year.
  • 2003
    Age 72
    His 2003 book, The Bubble of American Supremacy, was a forthright critique of the Bush administration's "War on Terror" as misconceived and counterproductive, and a polemic against the re-election of Bush.
    More Details Hide Details 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. When Soros was asked in 2006 about his statement in The Age of Fallibility that "the main obstacle to a stable and just world order is the United States", he responded that "it happens to coincide with the prevailing opinion in the world. And I think that's rather shocking for Americans to hear. The United States sets the agenda for the world. And the rest of the world has to respond to that agenda. By declaring a 'war on terror' after September 11, we set the wrong agenda for the world. When you wage war, you inevitably create innocent victims."
    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".
    More Details Hide Details He said he would sacrifice his entire fortune to defeat Bush "if someone guaranteed it". Soros gave $3 million to the Center for American Progress, $2.5 million to MoveOn.org, and $20 million to America Coming Together. These groups worked to support Democrats in the 2004 election.
    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.
    More Details Hide Details The bulk of his enormous winnings is now devoted to encouraging transitional and emerging nations to become "open societies", open not only in the sense of freedom of commerce but—more important—tolerant of new ideas and different modes of thinking and behavior. Time magazine in 2007 cited two specific projects—$100 million toward Internet infrastructure for regional Russian universities, and $50 million for the Millennium Promise to eradicate extreme poverty in Africa—noting that Soros had given $742 million to projects in the U.S., and given away a total of more than $7 billion. Other notable projects have included aid to scientists and universities throughout central and eastern Europe, help to civilians during the siege of Sarajevo, and Transparency International. Soros also pledged an endowment of €420 million to the Central European University (CEU). The Nobel Peace Prize winner Muhammad Yunus and his microfinance bank Grameen Bank received support from the OSI.
    As of 2003, PBS estimated that he had given away a total of $4 billion.
    More Details Hide Details The OSI says it has spent about $500 million annually in recent years.
  • 1999
    Age 68
    In 1999, economist Paul Krugman was critical of Soros's effect on financial markets. "Nobody who has read a business magazine in the last few years can be unaware that these days there really are investors who not only move money in anticipation of a currency crisis, but actually do their best to trigger that crisis for fun and profit.
    More Details Hide Details These new actors on the scene do not yet have a standard name; my proposed term is 'Soroi'." In an interview regarding the late-2000s recession, Soros referred to it as the most serious crisis since the 1930s. According to Soros, market fundamentalism with its assumption that markets will correct themselves with no need for government intervention in financial affairs has been "some kind of an ideological excess". In Soros's view, the markets' moods—a "mood" of the markets being a prevailing bias or optimism/pessimism with which the markets look at reality—"actually can reinforce themselves so that there are these initially self-reinforcing but eventually unsustainable and self-defeating boom/bust sequences or bubbles." In reaction to the late-2000s recession, he founded the Institute for New Economic Thinking in October 2009. This is a think tank composed of international economic, business, and financial experts, mandated to investigate radical new approaches to organizing the international economic and financial system.
  • 1998
    Age 67
    In 1998's The Crisis of Global Capitalism: Open Society Endangered Soros explained his role in the crisis as follows: The financial crisis that originated in Thailand in 1997 was particularly unnerving because of its scope and severity.
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  • 1997
    Age 66
    By the beginning of 1997, it was clear to Soros Fund Management that the discrepancy between the trade account and the capital account was becoming untenable.
    More Details Hide Details We sold short the Thai baht and the Malaysian ringgit early in 1997 with maturities ranging from six months to a year. (That is, we entered into contracts to deliver at future dates Thai baht and Malaysian ringgit that we did not currently hold.) Subsequently Prime Minister Mahathir of Malaysia accused me of causing the crisis, a wholly unfounded accusation. We were not sellers of the currency during or several months before the crisis; on the contrary, we were buyers when the currencies began to decline—we were purchasing ringgits to realize the profits on our earlier speculation. (Much too soon, as it turned out. We left most of the potential gain on the table because we were afraid that Mahathir would impose capital controls. He did so, but much later.)
    In 1997, during the Asian financial crisis, the prime minister of Malaysia, Mahathir bin 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.
    More Details Hide Details Following on a history of antisemitic remarks, Mahathir made specific reference to Soros's Jewish background ("It is a Jew who triggered the currency plunge") and implied Soros was orchestrating the crash as part of a larger Jewish conspiracy.
  • 1994
    Age 63
    In 1994, Soros delivered a speech in which he reported that he had offered to help his mother, a member of the Hemlock Society, commit suicide.
    More Details Hide Details In the same speech, he also endorsed the Oregon Death with Dignity Act, proceeding to help fund its advertising campaign. Soros' writings focus heavily on the concept of reflexivity, where the biases of individuals enter into market transactions, potentially changing the fundamentals of the economy. Soros argues that different principles apply in markets depending on whether they are in a "near to equilibrium" or a "far from equilibrium" state. He argues that, when markets are rising or falling rapidly, they are typically marked by disequilibrium rather than equilibrium, and that the conventional economic theory of the market (the 'efficient market hypothesis') does not apply in these situations. Soros has popularized the concepts of dynamic disequilibrium, static disequilibrium, and near-equilibrium conditions. He has stated that his own financial success has been attributable to the edge accorded by his understanding of the action of the reflexive effect. Reflexivity is based on three main ideas:
  • 1992
    Age 61
    On October 26, 1992, The Times quoted Soros as saying: "Our total position by Black Wednesday had to be worth almost $10 billion.
    More Details Hide Details We planned to sell more than that. In fact, when Norman Lamont said just before the devaluation that he would borrow nearly $15 billion to defend sterling, we were amused because that was about how much we wanted to sell." Stanley Druckenmiller, who traded under Soros, originally saw the weakness in the pound. "Soros's contribution was pushing him to take a gigantic position."
    On September 16, 1992, Black Wednesday, Soros's fund sold short more than $10 billion in pounds, 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 to float its currency.
    More Details Hide Details Finally, the UK withdrew from the European Exchange Rate Mechanism, devaluing the pound. Soros's profit on the bet was estimated at over $1 billion. He was dubbed "the man who broke the Bank of England". The estimated cost of Black Wednesday to the UK Treasury was £3.4 billion.
    Soros had been building a huge position in pounds sterling for months leading up to September 1992.
    More Details Hide Details Soros had recognized the unfavorable position of the United Kingdom in the European Exchange Rate Mechanism. 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.
  • FIFTIES
  • 1983
    Age 52
    In 1983, George Soros married Susan Weber, twenty five years his junior. They divorced in 2005.
    More Details Hide Details They have two children:
    They divorced in 1983.
    More Details Hide Details They had three children:
  • FORTIES
  • 1973
    Age 42
    In 1973, due to perceived conflicts of interest limiting his ability to run the two funds, Soros resigned from the management of the First Eagle Fund.
    More Details Hide Details He then established the Soros Fund and gave investors in the Double Eagle Fund the option of transferring to that or staying with Arnhold and S. Bleichroeder. It was later renamed as the Quantum Fund, named after Werner Heisenberg's principle of quantum mechanics. By that time the value of the fund had grown to $12m, only a small proportion of which was Soros' own money. He and Jim Rogers reinvested their returns from the fund, and also a large part of their 20% management fees, thereby expanding their stake. 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. In July 2011 Soros announced that he had returned funds from outside investors' money (valued at $1 billion) and instead invested funds from his $24.5 billion family fortune, due to changes in U.S. Securities and Exchange Commission disclosure rules, which he felt would compromise his duties of confidentiality to his investors. The fund had at that time averaged over 20% per year compound returns.
  • THIRTIES
  • 1970
    Age 39
    In 1970 Soros founded Soros Fund Management and became its chairman.
    More Details Hide Details Among those who held senior positions there at various times were Jim Rogers, Stanley Druckenmiller, Mark Schwartz, Keith Anderson, and Soros' two sons.
  • 1969
    Age 38
    In 1969 Soros set up the Double Eagle hedge fund with $4m of investors' capital including $250,000 of his own money.
    More Details Hide Details It was based in Curaçao, Dutch Antilles. In 1973 the Double Eagle Fund had $12 million and formed the basis of the Soros Fund. George Soros and Jim Rogers received returns on their share of capital and 20 percent of the profits each year.
  • 1966
    Age 35
    In 1966 he started a fund with $100,000 of the firm's money to experiment with his trading strategies.
    More Details Hide Details But he was principally motivated by a desire to assert himself as an investor to profit from his reflexivity insights.
  • 1963
    Age 32
    He spent the years from 1963 to 1966 with his main focus on the revision of his philosophy dissertation.
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    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.
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  • TWENTIES
  • 1960
    Age 29
    Soros has been married three times and divorced twice. In 1960 he married Annaliese Witschak.
    More Details Hide Details Annaliese was an ethnic German immigrant from Germany who had been orphaned during the war. Although she was not Jewish, she was well liked by Soros's parents as she had also experienced the deprivations and dislocation brought about by World War II.
  • 1959
    Age 28
    In 1959, after three years at F.M. Mayer, he moved to Wertheim & Co. as an analyst of European Securities, where he stayed until 1963.
    More Details Hide Details He planned to stay for five years, enough time to save $500,000, after which he intended to return to England to study philosophy. During this period, Soros developed the theory of reflexivity based on the ideas of Karl Popper. Reflexivity posited that market values are often driven by the fallible ideas of participants, not only by the economic fundamentals of the situation. Reflexive feedback loops are created where ideas influence events and events influence ideas. Soros further argued that this leads to markets having procyclical "virtuous or vicious" cycles of boom and bust, in contrast to the equilibrium predictions of more standard neoclassical economics."
  • 1956
    Age 25
    In 1956 Soros moved to New York City, where he worked as an arbitrage trader for F.M. Mayer (1956–59).
    More Details Hide Details 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.
  • 1954
    Age 23
    In 1954 Soros began his financial career at the merchant bank Singer & Friedlander of London.
    More Details Hide Details He worked as a clerk and later moved to the arbitrage department. A fellow employee, Robert Mayer, suggested he apply at his father's brokerage house, F.M. Mayer of New York.
  • 1951
    Age 20
    In 1951 Soros earned a Bachelor of Science in philosophy and an MSc in philosophy in 1954, both from the London School of Economics.
    More Details Hide Details After graduating, Soros found it difficult to get work, and settled for a job as a traveling salesman for a fancy-goods wholesaler selling to retailers in Welsh seaside resorts. He described this period as the "low point of my life", and wrote letters to a number of merchant banks requesting interviews. Many of these ignored him, and others humiliated him in the interviews. He credits his acceptance at Singer and Friedlander to the fact that the managing director was a fellow Hungarian.
  • TEENAGE
  • 1947
    Age 16
    In 1947 Soros immigrated to England and became a student at the London School of Economics.
    More Details Hide Details While a student of the philosopher Karl Popper, Soros worked as a railway porter and as a waiter. Soros received £40 from a Religious Society of Friends (Quaker) charity.
  • 1945
    Age 14
    The next year, 1945, Soros survived the Battle of Budapest, in which Soviet and German forces fought house to house through the city.
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  • CHILDHOOD
  • 1936
    Age 5
    Soros said that he “grew up in a Jewish, anti-Semitic home,” and that his parents were “uncomfortable with their religious roots.” They changed their name from Schwartz ("black" in German) to Soros (a successor in Hungarian or will soar in Esperanto). in 1936 to disassociate themselves from the Jewish community.
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  • 1930
    Born
    Born on August 12, 1930.
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