George Soros Transfers $18 Billion to the Open Society Foundations
Investor and philanthropist George Soros, known for his left wing political positions has now transferred a massive portion of his estimated $24.6 billion fortune to the Open Society Foundations. Last Tuesday, the foundation confi med the donation of $18 billion. According to its promotional material, the organization has allegedly worked to combat authoritarianism, promote human rights, public health, and support "marginalized" groups (including refugees, the LGBT community, and minorities), in outposts in over 100 countries. The organization, which has spent $14 billion since the 1980s, has now become the second largest charity, trailing only behind billionaire Bill Gates's foundation.
Over the years, the lion’s share of Soros’ money has been channeled to left wing and in many cases, anti-Israel causes. In the 2016 presidential race, Soros reportedly donated more than $6 million to the campaign of former Secretary of State Hillary Clinton. Soros has raised the ire of many pro-Western and pro-Israel supporters and has even been chastised by Israeli Prime Minister Benjamin Netanyahu for his pro-Hamas apologist stance. In his native Hungary, he has been the subject of animus from Prime Minister Viktor Orban.
According to report on Breitbart, a Hungarian member of parliament has claimed that the transfer of the money to the Open Society Foundations may be a signal from Soros that he is planning to use his influence to change the political tide in Hungary’s 2018 election.
István Hollik MP fears that Soros would use his Open Society Foundations (OSF) to remove Prime Minister Viktor Orbán’s Fidesz party from power, tear down the border fence, and implement the “Soros Plan” to fl od Europe with one million third-world migrants annually, reports the Hungarian Times.
The politician, whose Christian Democratic People’s Party (KDNP) is in coalition with the conservative Fidesz, also said that the OSF-backed refugee human rights group Hungarian Helsinki Committee’s legal challenge to the government’s national consultation on the Soros Plan could be “the fi st step in the campaign”.
Hollik pointed out that Soros’s foundation, has been a “generous and intensive” source of money for those “Soros organizations and politicians” who “regularly intervene in Hungarian public life and who try to put pressure on the Hungarian cabi-
net”, alleges Hollik.
As reported by CNN, an official at the foundation said in an email that the move "refl cts an ongoing process of asset transfer that has been underway for several years." He said, Mr. Soros "plans to leave the vast majority of his wealth to the Open Society Foundations", to which he is also the chairman.
Soros, 87, is a Hungarian Jew who survived the Nazi occupation as a child in Budapest, and in 1947 fled to Britain. He attained a master's in Philosophy from the London School of Economics, putting himself through school by working as a railway porter and a waiter. He eventually moved to the U.S. and started his fi st hedge fund in 1969. He has already donated over $30 billion to various causes.
Following the donation, Soros’ Forbes ranking has fallen from being the 20th richest person in the world, down to being 59th richest in America, with an estimated $8 billion. He fi st made it on the Forbes list thirty years ago with a net worth of $300 million.
Investor and philanthropist George Soros, known for his left wing political positions has now transferred a massive portion of his estimated $24.6 billion fortune to the Open Society Foundations