After years of silence, George Soros has started funding political causes again. The billionaire has been relatively quiet since his 2004 when he supported a Democratic candidate to unseat President George W. Bush. During that year’s campaigns, the hedge fund expert donated over $27 million to the Democratic campaigns. Soros made a comeback by donating more than $25 million towards the campaigns of Hillary Clinton and other Democratic candidates. This information is available on the Federal Election Commission’s report, thus accessible by the public. These donations sought to boost Hillary’s campaigns and raise her chances of clinching the United States’ presidency. The self-made billionaire is worth over $25.2 billion. He has amassed a large fortune from risky currency trades. His first major breakthrough in making wealth was in the 90s when he bet against the British pound. In the end, George made over $1 billion in profits, thus earning the name, “The man who broke the Bank of England.” In the run-up to last year’s elections, the billionaire planned to attend his first ever Democratic Convention. This event would have given him the opportunity to watch Hillary Clinton deliver her Democratic presidential-nomination acceptance speech. However, the Hungarian-born entrepreneur decided to cancel the trip for purposes of having adequate time to monitor the economic situation in Europe, as Britain was voting to leave the EU block. Soros returned to active trading after a period of semi-retirement.
Read more: http://www.forbes.com/profile/george-soros/
According to people close to the hedge funds expert, George Soros was more engaged in the elections than in previous years. It is assumed that the reason behind his active involvement in Hillary’s campaign was his fear for Donald Trump to enter the White House. Previously, Soros has accused the GOP rival of ‘doing the work of ISIS’ by causing fear among Americans through his campaign speeches. Trump promised to lock Muslims from entering the US and build a wall between the US and Mexico once elected the president. Many people in the Clinton camp were considering Soros’ willingness to fund her campaigns as a good sign that she would win the elections. The funds would enable Hillary Clinton to reach out to more Americans through campaign trips, emails, radio ads, and TV ads. Soros’ donation motivated other wealthy businesspersons to increase their contributions towards Hillary’s campaigns. Tom Steyer donated $31 million and Don Sussman gave $13.2 million. Additionally, Haim Saban and Fred Eychaner donated $11.1 million each. Read more about George at Washington Times.
George Soros is a Hungary-born hedge fund billionaire. He lives in New York City. The financial expert is the founder and chairman of Soros Fund Management. Soros is a graduate of the prestigious London School of Economics. He started working on the Wall Street in 1960s. Over the years, Soros has supported different charitable initiatives. To date, he has donated over $7 billion to various noble causes. Soros is the founder of Open Society Foundation. George Soros established the Open Society Foundations.