Mr. Paulus has acquired a lot of wealth from his investments in the hospitality and tourism industries. He was recently listed in the Forbes magazine as one of the world’s billionaires. The tourism sector in Brazil has grown tremendously over the years.
Guilherme Paulus is one of the pioneers of a Brazil-based tour operator known as CVC. The firm has operated in the country for more than four decades now. He was 24 years old when he established the company. His business partner left the company after four years to pursue his political interests. CVC has been named as the largest among the other players in the tourism industry in Latin America. Towards the end of 2009, the businessman opted to sell some stake to an investment group called Carlyle at an estimated value of $420 million.
Guilherme Paulus is also the founder of a hotel group known as GJP Hotels and Resorts. Under the GJP umbrella, he manages over 20 facilities. One of his plans is to acquire pieces of land in strategic places such as airports in the country to build new structures. In 2014, the World Cup took place in Brazil and there was an influx of foreign visitors that led to high demand for hospitality services. Another global event that has led to a similar situation is the Summer Olympics. Before he attained the age of 20, he got a job at IBM where he was an intern. Guilherme Paulus has also invested in other countries. The 20 facilities under the GJP network are located in various places such as Maceio, Recife, Salvador, Sao Paulo, and Rio de Janeiro.
Over the years, the GJP group has employed thousands of people. Currently, it has more than 5,000 workers. Guilherme Paulus started investing in the hotel business since 1995. As the GJP brand grew, it got more clients and has served about 100,000 people. During an interview, he disclosed that a former state deputy came up with the idea to form CVC. He has previously worked at Casa Faro. Some of his close associates acknowledged that he could become a good entrepreneur. According to him, the introduction of innovative products in his venture is one of the key factors behind the growth.
Hungarian-American billionaire investor and financial genius announced that he is donating $18 billion, a large chunk of his fortune to the foundation he started, Open Society Foundation. This influx of money to the Open Society Foundation has made it the second largest organization in the country, just short of the Bill and Melinda Gates Foundation. George Soros, who may be old, still has power over the foundation and serves as the chairman, along with three of his children. The contribution, comes as the Soros’ family works to transfer the hedge fund into a pool of capital, that will help the foundation over a long period of time.
Bloomberg has said that the massive contribution was in part to lessen a tax bill that hedge fund managers face this tax year. After Congress eliminated a tax break in 2008, following the financial crisis, hedge fund managers like Soros have until the end of 2016 to pay taxes on fees earned from offshore funds. Many are attempting to find a workaround by making charitable contributions, which will soften the tax burden. As a group, hedge fund managers are estimated to have $100 billion stored offshore. Hedge fund managers like George Soros, could be in a federal income tax rate of 40%, while also facing state and local taxes. In 2013, George Soros wealth soared to $13.3 billion through using deferrals.
As part of his growing reach, George Soros launched the Open Society Foundation in 1993, and has been used to support liberal causes and Democratic candidates. George Soros and his organization recently contributed $33 million to several Black Lives Matter groups and some to the Women’s March. George Soros was a major financial donor to Hillary Clinton’s Democratic presidential campaign in 2016. George Soros was taking a break from contributing to politicians after he was unable to defeat George W. Bush.
George Soros was born and raised in Hungary. Soros and his family survived Nazi occupation by securing false identities and helping others do the same. He fled Hungary as communism was beginning to take over and ended up in London. While in London, he worked as a railway porter and studied at the London School of Economics. He then later emigrated to the United States, where he became an investor genius. He is best known for breaking the bank of England, after making a wager that the U.K. would have to devalue the pound.
George Soros and his foundation have been working to support victims of hate crimes. The foundation is built to promote democracy, human rights and ensure a free press. George Soros founded programs that work to protect minority groups including the LGBT community and the Roma people in Europe. Soros foundation provided treatment centers for those affected by the Ebola outbreak. George Soros is planning on contributing another $2 billion to the Open Society Foundation. Soros’ foundation has been spending $900 million on programs and grants, more than what is required by law. Soros continues to help those who are being neglected by the majority.