All know that George Soros is a billionaire. But few are not aware that this wealth is not from his family. He is a self-made person and very proud of this fact. He has earned a reputation for his knowledge on making investments along with his philanthropic work.
He was born in 1930 in Budapest in Hungary. George Soros managed to survive the Nazi occupation as his father had money to get false papers for him and his family. George Soros managed to survive the rule of the Communists in the mid-1940s. Then he decided to immigrate to London.
Once there, he joined the London School of Economics and earned his economics degree. In 1956, George Soros went to New York City. His plan was to make money on the Wall Street. After that, he wanted to come back and stay in London as he did not want to stay in America permanently. Once George Soros entered the Wall Street and stepped into the finance world, he was not able to come back. Know more on investopedia.com about George Soros.
In 1979 George Soros began with his philanthropy. By 2012, his donations reached nearly $7 billion. He makes most of these donations through the channel of his Open Society Foundations.
He got interested in the philosophy of Karl Popper while he studied at the London School of Economics. He read one of his books, The Open Society and Its Enemies and was highly influenced by it. He got impressed by his criticism of totalitarianism. He never studied under Popper directly. Still, he was impressed by the philosophy and work of Popper.
This book by Karl Popper helped George Soros to realize that no ideology can claim to own the truth. Hence only such societies can flourish which are able to operate in free and open manner. Thus complete and total respect for the individual rights has to be there. These thoughts were able to influence George Soros in a deep way. They are the base of all his actions taken later in life.
In 1956, George Soros sailed off to New York. He joined a brokerage firm called F.M. Mayer, on Wall Street. He worked for many other firms after that. George Soros decided to set up his hedge fund in 1973 and named it the Soros Fund. It got renamed later and called the Quantum Fund. Again the name was changed and became the Quantum Fund Endowment. Read more about George at The New York Times.
He began this firm with the $12 million that he got from investors. Immediately this fund was successful. It led to Soros being in the list of richest persons in the world and holding the 21st position in it.
George Soros is 85 years old. His estimated net worth seems to be around $26 billion.