In a move that elevated the position of Open Societies Foundation in the ranks of the charitable organization, George Soros transferred additional 18 billion US dollars to his foundation. Thanks to his benevolence, the human rights foundation is now the third largest charitable organization in the world, exceeded only by the Bill and Melinda Gates Foundation and as well as Wellcome Trust. Speaking to the New York Times and the Wall Street Journal, Open Societies Foundation officials said that the Hungarian-born philanthropist had lately stepped up donations from his estimated cumulated earnings from hedge funds of 23 billion dollars.
Since its establishment in 1979, open societies has given away a cumulative 32 billion dollars in pursuant of its aim of building vibrant tolerant democracies all over the world. Launched by Mr. Soros in South Africa 38 years ago, Open Societies Foundation has given donations to over 100 countries globally. The foundations are committed to the global struggle for open societies where governments allow transparency and the participation of its people.
Mr. Soros, who was a significant supporter for Hillary Clinton’s presidential race, made this latest transfer of funds at a time when he is engaged in a row with the government of Hungary over media academic freedom.
The donation, which surpassed nearly all other contributions made in recent times by a private investor to a single foundation, was made silently in small installments but only disclosed days ago. The move by Mr. Soros, a perennial lightning rod for right-wing critics, placed him at the fore of socio-political debates expected to develop across the global platform.
The foundation, founded and chaired by the billionaire hedge fund manager, has increased its attention on the US in recent years where it has channeled funds to not only reduce police brutality but also to safeguard the right of Lesbian, Gay, Bisexual and Trans-sexual (LGBT). The foundation not only featured during times of national need like during the 2014 outbreak of Ebola when it financed treatment centers but also during the aftermath of 2016 elections where there were widespread waves of crimes of hate.
Having lived in Hungary as a boy at a time when the Nazi-occupied it, Mr. Soros developed his liberal perspective as a result of his childhood experiences. Having lived in a society deprived of individual rights, virtually a ‘closed’ community, Mr. Soros developed a passion for promoting democracy openness, a good cause he began to fund as soon as his fortunes started to grow on Wall Street as a trader.
Darren Walker, the president of Ford Foundation, praised the Open Societies Foundation saying that no other foundation, not even the Ford Foundation, had impacted the world like Mr. Soro’s foundation in the past 20 years. He explains that owing to the global influence of the foundation, their legacy is wider and their effect is felt more.
The president of the organization reports that Mr. Soros is constantly involved in the work of the organization and he is always in communication with the president and more information click here.