George Soros, the billionaire from New York, has always been associated with the Democrats since he started his hedge fund empire. He has had long-term relations with some key members of the party, especially the Clintons and has backed them publicly for office.
The 85-year-old hedge fund billionaire made his fortune which is estimated to be around $25 billion through risky currency trade. He had never shied away from sharing his fortune with the Democrats with a good example being in 2004 when he pledged $27 million in an attempt to defeat President George W. Bush and supporting other Democrat candidates. Know more about George Soros on Business Insider.
After the way the events turned out, George Soros reduced his political donations and did his best to avoid the political center stage. Instead, he focused on running his business and supporting his charity foundations around the world.
Recently, Soros emerged and publicly aired his support for Hillary Clinton as the Democrat’s presidential candidate. He made an impressive financial contribution of over $25 million towards her campaign. According to his political advisor, Soros was more interested in the election as he believed that the stakes were high. He also didn’t support Donald Trump’s political and economic views and saw his policies as those of instilling fear into people rather than offering them security.
George Soros has always taken an interest in shaping and transforming political environments to what he calls “Open Societies.” He believes that societies should be formed around “universally” accepted principles that work to enhance the welfare of all mankind.
For this reason, he has used his wealth to fund various organizations around the world that share his views. He has also established more than 70 Open Society Foundations around the world that are charged with transforming the political and social environments of the people.
Considering his childhood background where he was forced to live in a German-occupied Hungary, one can only see where his need and urge to bring a change in the political field originated. He was from a Jewish family at the time where Jews were widely persecuted in Germany and other Germany-occupied territories.
George Soros has always played a major role in philanthropy. He began his quest in 1979, and in 1984, he had already established an Open Society Foundation in Hungary. The network has grown and is operating in multiple countries. His spending and funding have also increased to hundreds of millions of dollars every year. Read more on NYTimes.com.