George Soros: Billionaire and Philanthropist

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George Soros is a Hungarian-American billionaire and philanthropist. He writes extensively, supports a number of progressive-liberal causes and between 1979-2011 gave over $8 billion to public health, human rights and education causes. He was also very active in helping his native Hungary transition from Soviet backed socialism to capitalism (Murphy, 1993). Soros amassed his huge fortune through speculating in currency markets for instance, in 1992 he invested heavily against the Pound and made $1 billion in profits from a short sale. This happened again and again, in 1997 in Asia, and in 1998 in Europe again, prompting Economist Paul Krugman to note: "[Anyone] who has read a business magazine in the last few years [is aware] that these days there really are investors who not only move money in anticipation of a currency crisis, but actually do their best to trigger that crisis for fun a profit. These new actors on the scene do not yet have a standard name; my proposed term is Soroi" (Krugman, 1999, p.160). It is very hard to believe that Soros' abilities are the result of luck. Instead, what emerges from the literature is a portrait of a very shrewd investor and political analysis with a huge ego. For instance, Soros told CNN on national television that the market would react negatively if the U.S. invaded Afghanistan it did. Soros worked with the Clinton Administration to help Russia with their transition, spending millions of taxpayer dollars in the process, and

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