The $18 Billion Contribution Saga of George Soros and the Worried Conservatives

George Soros has a prominent position in the philanthropic world with his Open Society Foundations and contributions to charity and liberal groups across the globe. Recently, he transferred a major share of his wealth, $18 Billion, to Open Society Foundations. When almost everyone appreciated the kind heart of George Soros, there was a set of people who were not happy with the attention Soros captured in the philanthropic world. It is none other than the conservative groups and their theorists. Considering the liberal campaigns of Soros and his opposition towards flawed conservative policies, the conservative sections consider him as an enemy to them.

The heavy contribution also made OSF the second largest philanthropic group, according to funds and operations, in America just behind the Gates Foundation. This has made the conservatives as well as the billionaires from conservative side upset. The theory group started working on fabricated stories to malign Soros as well as downsize his noble contribution that could help millions of people to change the direction of their life. It was not new that Soros was always drawn as someone who captured significant influence in the financial spectrum around the globe. Though he made his fortunes from risky currency trades, the markets around the world are huge that cannot be altered by a single person.

Plotting him as a philanthropic boogeyman by conservatives was showcasing the current political moment. It is understood that the ideological frustration of the conservative camps is paving ways for targeting the billionaires in the liberal end – an attempt to divert the attention from their internal fights and other core issues. However, the conservative groups often forget that if the liberal groups try to target the conservative billionaires like Koch brothers – who always have a shadow image in front of the ordinary people of America – conservatives may face bigger blows. Interestingly, the liberal stories about conservative billionaires would have more selling appeal as the conservative riches are perceived as dark money groups.

However, many people are upset with the fact that targeting philanthropists and their contributions may discourage the young philanthropists. The young philanthropists may think that every philanthropist might be targeted by various groups later. This can adversely affect the charitable donations and works in the society. George Soros is a proponent of open society ideologies and known for declaring that laissez-faire capitalism poses the biggest threat to open society ideas after the collapse of communism. Though Soros earned his fortunes from capital markets, he thinks that it is his duty to disclose his observations.

George Soros was born in Hungarian Jewish family in 1930 and moved to England in the year 1947. He secured his graduation from the famous London School of Economics. Hoping to test his insights about capital markets, Soros moved to the United States and became a stock trader at American stock markets, including the Wall Street. In the early 1970s, he established Soros Fund Management, a currency trade-focused hedge fund firm. His hard work and market insights made the company highly successful, and in the later years, Soros started founding Open Society Foundations across the globe.

Learn More: www.theatlantic.com/magazine/archive/1997/02/the-capitalist-threat/376773/

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