George Soros Donated USD 18 Billion to Open Society Foundations

Society | October 18, 2017, Wednesday // 15:28
Bulgaria: George Soros Donated USD 18 Billion to Open Society Foundations Source: Twitter

The famous Hungarian-American investor and business magnate, George Soros, donated much of his wealth to his foundation, founded in 1984 to support democracy, human rights and freedom of the press, reports BNT. 

Open Society received USD 18 billion from 87-year-old Soros, a big donor to the Democratic Party in the United States, a spokeswoman for the Foundation told AFP.

The amount is related to the "current transfer of assets" by Soros, "who plans to leave the most significant stake of its wealth to the Open Society Foundations," she said.

The donation turns the Open Society into the second-richest non-governmental organization in the United States after the Bill and Melinda Gates Foundation, which has USD 40 billion to help solve public health and development problems around the world, according to National philanthropist trust. "

"Open Society" is a network of 39 organizations working around the world. It first began operating in 1984 in Hungary, the home country of Soros. The latest operation started in 2016 in Myanmar.

George Soros is President of the Open Society, and his sons Alexander and Jonathan are members of the board. Some of his other children are also involved in the foundation's activities .

Known for his risky financial operations, the American billionaire of Hungarian ancestry has so far donated USD 12 billion of his estate to charity.

His first donation was in 1979, when the financier provided scholarships to black students from South Africa when were the most intense moments of the apartheid, reminds his foundation on its website.

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Tags: George Soros, donation, Open Society Foundation
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