Portrait: Investor and philanthropist George Soros

Wednesday, 26 August 2020 - 11:00 am (CET/MEZ) Berlin | Author/Destination:
Category/Kategorie: Portrait
Reading Time:  7 minutes

© flickr.com - World Economic Forum Annual Meeting 2011/cc-by-sa-2.0

© flickr.com – World Economic Forum Annual Meeting 2011/cc-by-sa-2.0

George Soros is a HungarianAmerican billionaire investor and philanthropist. As of May 2020, he had a net worth of $8.3 billion, having donated more than $32 billion to the Open Society Foundations. Born in Budapest, Soros survived Nazi Germanyoccupied Hungary and moved to the United Kingdom in 1947. He attended the London School of Economics, graduating with a bachelor’s and eventually a master’s degree in philosophy. Soros began his business career by taking various jobs at merchant banks in the United Kingdom and then the United States, before starting his first hedge fund, Double Eagle, in 1969. Profits from his first fund furnished the seed money to start Soros Fund Management, his second hedge fund, in 1970. Double Eagle was renamed to Quantum Fund and was the principal firm Soros advised. At its founding, Quantum Fund had $12 million in assets under management, and as of 2011 it had $25 billion, the majority of Soros’s overall net worth.

Soros is known as “The Man Who Broke the Bank of England” because of his short sale of US$10 billion worth of pounds sterling, which made him a profit of $ 160;billion during the 1992 Black Wednesday UK currency crisis. Based on his early studies of philosophy, Soros formulated an application of Karl Popper‘s General Theory of Reflexivity to capital markets, which he claims renders a clear picture of asset bubbles and fundamental/market value of securities, as well as value discrepancies used for shorting and swapping stocks.

Festival of Economics 2012 © Niccolò Caranti/cc-by-sa-3.0 © flickr.com - World Economic Forum Annual Meeting 2011/cc-by-sa-2.0 Munich Security Conference 2011 © Harald Dettenborn/cc-by-3.0-de
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© flickr.com - World Economic Forum Annual Meeting 2011/cc-by-sa-2.0
Soros is a well-known supporter of progressive and liberal political causes, to which he dispenses donations through his foundation, the Open Society Foundations Between 1979 and 2011, he donated more than $11 billion to various philanthropic causes; by 2017, his donations “on civil initiatives to reduce poverty and increase transparency, and on scholarships and universities around the world” totaled $12 billion. He influenced the collapse of communism in Eastern Europe in the late 1980s and early 1990s, and provided one of Europe’s largest higher education endowments to the Central European University in his Hungarian hometown. His extensive funding of political causes has made him a “bugaboo of European nationalists“. Numerous American conservatives have promoted false claims that characterize Soros as a singularly dangerous “puppet master” behind a variety of alleged global plots, with The New York Times reporting that by 2018 these claims had “moved from the fringes to the mainstream” of Republican politics. Conspiracy theories targeting Soros, who is of Jewish descent, have often been described as antisemitic.

This whole concept of the “Jewish World Conspiracy” or the “New World Order” cannot work at all for people who have heard of mathematics and have a handful of reason. There are around 180 countries in the world that are of different sizes. You would need between 1,000 and 10,000 people per country to initiate a “synchronization”. These people cost money because they should be public figures with a large reach and, more importantly, those people who are almost never mentioned in newspaper reports and who are known to only a small group of people for security reasons, but who have remarkable power (for example, the negotiators for economy, finance and security on behalf of the heads of state of the EU states or intelligence coordinators, with whose help the infiltration from the inside could be carried out). You would have to be able to identify and recruit them first. The latter only works with the help of a lot of money, i.e. between 100,000 and 1,000,000 per capita and month. In addition there are “operating costs” for communication, travel costs, administration etc. pp. Let’s just do the math. 180 countries x 5,000 (calculated average) = 900,000 people. 900,000 x 500,000 (calculated average) = 450,000,000,000 euros/month = 45 billion/month. George Soros’ private wealth is estimated at $ 8.6 billion/7.3. billion Euro in 2020. So it wouldn’t even last for a month. 45 billion x 12 months = 540 billion years. In states that are already autocratic/dictatorial, it will be easier to bring it into line than in democratic states. Between 5 and 15 years must be calculated, i.e. 10 years as the average. For this, significantly higher personnel costs would have to be planned for the autocrats and dictators, because the leadership caste is ultimately only about personal enrichment. 540 billion x 10 years = 5.4 trillion euros and that would only be the personnel costs (for comparison: the EU has just decided an aid package of 1.8 trillion euros to combat the consequences of the corona pandemic, an amount of just one drop of water on a hot stone, when looking at the overall economic damage). But the concept of the “world conspiracy” will fail above all because of the human factor. You can only spoil people to a certain extent before the mood changes and all efforts have to start all over again. Has something of Sisyphean work and would be doomed from the beginning. So instead of making up conspiracy nonsense about Soros, his philanthropic engagement should be appropriately appreciated and supported. The only ones who, out of self-interest, can object to his commitments are nationalists, right-wing radicals and conspiracy mythologists.

Read more on GeorgeSoros.com/, Soros Fund Management, Open Society Foundations – George Soros and Wikipedia George Soros (Smart Traveler App by U.S. Department of State - Weather report by weather.com - Global Passport Power Rank - Travel Risk Map - Democracy Index - GDP according to IMF, UN, and World Bank - Global Competitiveness Report - Corruption Perceptions Index - Press Freedom Index - World Justice Project - Rule of Law Index - UN Human Development Index - Global Peace Index - Travel & Tourism Competitiveness Index). Photos by Wikimedia Commons. If you have a suggestion, critique, review or comment to this blog entry, we are looking forward to receive your e-mail at comment@wingsch.net. Please name the headline of the blog post to which your e-mail refers to in the subject line.






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