Successful Refugees and Immigrants Leading the Way, Part 1: The Legendary George Soros

In this series, “Successful Refugees and Immigrants Leading The Way,”we will profile prominent refugees and immigrants who have enriched the nations to which they have arrived, and contributed to the greater good of our world. George Soros is among these outstanding individuals. Mr. Soros, who left his native Hungary in 1947, is considered the founding father of the hedge fund industry and one of the world’s most distinguished philanthropists and richest men. Mr. Soros was born to a Jewish family in Budapest, Hungary, on August 12, 1930. Life in Hungary in the 1940s was very challenging, and in search of a better future, George Soros became an economic refugee, leaving his homeland for London, UK, in 1947. Initially, Mr. Soros’ career began with a bank in the UK, and in 1956, he got a work visa to join a brokerage house in New York City, USA. He created his first hedge fund, Double Eagle in 1969 (later renamed as Quantum Fund), and used the fortune earned from the first fund to create his second hedge fund, Soros Fund Management, in 1970. In 2017, the American publication Forbes magazine ranked Mr. Soros as the 29th richest person in the world, the wealthiest hedge-fund manager worldwide, and 19th among the 400 most affluent Americans. Before gifting the majority of it to his non-profit foundation, his net worth was estimated at US$25.2 billion. Mr. Soros has been an enthusiastic philanthropist for the past 40 years. In 2017, it was announced that Mr. Soros had transferred US$18 billion of his wealth to the Open Society Foundations. George Soros has expanded his philanthropy globally by supporting a large number of new efforts to build more responsible, transparent, and democratic nations. Today, the Open Society Foundations has funded individuals and groups in more than 120 countries around the world. The non-profit’s average annual expenditure is about US$600 million. Mr. Soros has received numerous honors and awards throughout his career as a direct result of his work in the financial field and dedication to giving back to the global community. Mr. Soros has written many papers, articles, and books concerning finance, economics, and geopolitics. As one of the modern era’s most successful financiers, his views on investing and economic issues are widely followed. His story teaches us that even under the most difficult circumstances we should still be optimistic and have positive thoughts. A big salute to all difference-making migrants, and George Soros in particular, for showing us the enormous potential of those who settle in new lands.