Did You Know? George Soros Just Used $18 Billion to Create One of the World’s Biggest Charities (October 17, 2017)

Patrick J. Buchanan: Is This Worse Than ’68?
October 30, 2018
Msgr. Charles Pope: A Reminder that Fornication is a Serious Sin that Can Exclude Us From Heaven
October 30, 2018

By Jennifer Calfas, Fortune, October 17, 2017

Billionaire investor George Soros has transferred “the bulk of his wealth” to the Open Society Foundations, the nonprofit organization said.

The $18 billion donation from Soros, who has long championed democratic causes, makes the organization one of the world’s largest philanthropic nonprofits, according to the Wall Street Journal.

Created by Soros in 1979, Open Society is a grant-making foundation with branches and partners around the world and focuses on supporting democracies and combating issues of injustice and discrimination, among other causes.

Open Society’s total expenditures are nearly $14 billion over its several decades of existence. Its 2017 budget is $940.7 million, with grants to seven regions around the globe focused on issues like economic governance and advancement, justice reform and human rights, according to the organization.

“My success in the financial markets has given me a greater degree of independence than most other people,” Soros wrote, according to his website. “This allows me to take a stand on controversial issues: In fact, it obliges me to do so because others cannot.”

A representative from Open Society did not respond to a request for comment from Fortune. Open Society tweeted the Journal‘s original story.

Open Society Foundations – @OpenSociety – George Soros has transferred the bulk of his wealth to his Open Society Foundations. https://osf.to/2gqw82a  via @WSJ

George Soros has transferred the bulk of his wealth to his Open Society Foundations

George Soros Transfers $18 Billion to His Foundation, Creating an Instant Giant

The 87-year-old pioneer of hedge-fund investing has transferred the bulk of his fortune to Open Society Foundations, which vaults it into the big leagues. Soros Fund Management is expected to show a…


146 people are talking about this

On Tuesday, Forbes listed Soros’s net worth as $23 billion with the release of its list of the 400 richest billionaires in the United States. An iconic hedge fund manager, the 87-year-old founded Soros Fund Management in 1969, and it is now a private family office.

In the weeks after the 2016 presidential election, Soros donated $10 million of his money to fight against hate crimes. Soros was a supporter of Democratic nominee Hillary Clinton.