George Soros Transfers $18 Billion to His Progressive Philanthropic Foundation

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George Soros Transfers $18 billion

This post was originally published on Fox News.

Soros is expected to transfer another $2 billion to his foundation in the years ahead, The New York Times reported.

The transfer of funds makes Soros’ organization, the Open Society Foundations, one of the largest philanthropic nonprofits in the world, the Wall Street Journal reported. The funds amounted to more than three-quarters of Soros’ fortune. His net worth is $23 billion, according to Forbes.

The 87-year-old Soros, who also donated tens of millions of dollars to Hillary Clinton and other Democratic politicians, will now be able further push his influence via Soros Fund Management LLC’s strategy combined with Open Society, which has 40 activist foundations and offices on five continents. He and his foundation have spent $14 billion on expenditures, the Wall Street Journal reported.

The new chief investment officer in the company will report to Open Society’s investment panel.

The Hungarian-born heavyweight has spent years investing money to support fiercely liberal, partisan causes in the U.S. and throughout the world. He started donating money in 1979, however, his philanthropy hasn’t always gone smoothly in other countries. The Hungarian parliament passed legislation in April that would allow them to shut down the university George Soros founded in Budapest.

Activists of Egyutt (Together) opposition party remove a government billboard displaying George Soros in monochrome next to a message urning Hungarians to take part in a national consultation about what it calls a plan by the Hungarian-born financier to settle a million migrants in Europe per year, in Budapest, Hungary, October 5, 2017. REUTERS/Bernadett Szabo - RC140C9C81F0

Activists remove a government billboard displaying George Soros in monochrome next to a message urging Hungarians to take part in a national consultation about what it calls a plan by the Hungarian-born financier to settle a million migrants in Europe per year.  (Reuters)

The hedge fund manager also launched a campaign against then-Republican presidential candidate Donald Trump during the 2016 election, betting in the markets that Trump wouldn’t win the election while also giving millions to Democrats. Soros, who said “dark forces” would be “awakened” if Trump won, ended up losing $1 billion on the bet, the New York Times reported.

But eager to continue his fight against Trump, Open Society announced after the election it would spend $10 million in the fight against hate crimes, which Soros claims the president has ignited across the country.

This post was originally published on Fox News.

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1 COMMENT

  1. Soros should be deported like many of the left wingers trying to change this great nation , Gid bless America , God bless our flag God bless our constitution God bless the Bill of Rights , God bless the Star Spangled Banner God bless après Trump and his administration , God bless those that try to hurt us

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