BiographyGeorge Soros is a Hungarian born billionaire investor, philanthropist and author. The American businessman was once known as "The Man Who Broke the Bank of England" after speculating on the Pound Sterling, believing it was overvalued. George Soros is also a generous philanthropist, giving away millions of dollars every year to the poor and disadvantaged of the world. He also has numerous critics in both finance and politics.
George Soros was born in Budapest, Hungary on August 12, 1930. As a young man, Soros traded currencies in the black market during the Nazi occupation of Hungary. Soros was fourteen when the Nazis invaded Hungary and he avoided the fate of many Jews by posing as the godson of a Hungarian official overseeing the confiscation of Jewish properties.
In 1946 Soros fled the Soviet occupation of Hungary and arrived in England. He then went on to study at the London School of Economics and graduated in 1952. Soros then emigrated and settled in in the United States of America in 1956.
Upon moving to America, Soros set up an investment fund that went on to create his massive fortune. It was his intention to simply support his love of writing from his Wall Street earnings, but his well timed investment decisions saw his wealth increase dramatically each year. The Quantum Fund, went on to become one of the most successful managed investment funds ever, with a more than 30% increase annually over a 30 year period.
In addition to being a renowned financier, George Soros has established the Open Society Institute and The Soros Foundation, which operates in 25 countries and spends hundreds of millions of dollars annually on major philanthropic efforts.
Always a controversial figure, Soros has recently become involved in the U.S presidential election. In an interview with the The Washington Post, Soros said that removing Bush from office is the "central focus of my life" and "a matter of life and death" for which he would be willing to sacrifice his entire fortune. Soros has contributed an estimated $18 million to pro-Democrat groups in the run up to the November 2004 elections.
Ironically, Soros's Harken Energy bailed out Bush in 1986 by buying his ailing oil venture, Spectrum 7.
Books by George Soros