Investor gives foundation $18 billion

George Soros, a billionaire investor, has donated $18 billion (£13.6bn) to the Open Society Foundation – transforming the organisation into the world’s second largest philanthropic fund, after the Bill and Melinda Gates Foundation.

Mr Soros, an 87-year-old Hungarian american, survived Nazi occupation of Hungary and then fled Communism. He is now believed to be worth $25 billion.

The Open Society Foundation has been used to promote liberal causes such as prison reform, refugee rights and freedom of information.