George Soros is a man that likes to take risks. Risky currency trades is how he amassed an estimated $24.9 billion fortune which he uses to make a difference in the lives of the marginalized on a global scale. It seems that at the age of 86, the son of Hungarian Jews is still bravely willing to take huge risks, something he learned to do while fleeing Hungary, and working various jobs in order to pay his way through the London School of Economics before establishing his own hedge fund in 1969. According to Forbes, he is the 29th richest person in the world, and the 19th richest in the US.
Soros is an outspoken business leader but his passion for democracy and his blatant dislike of Republican policies has brought him praise and criticism. The backlash he received during and after the 2004 presidential campaign – in which he personally spent a staggering $27 million – only to have then Senator John Kerry narrowly lose to President George W. Bush left Soros disillusioned enough to consider never throwing big money into politics again.
The business mogul turned his money and message towards his Open Society foundation (which works to spread democracy in Eastern European countries, and expand education and health care internationally) and helped create the Democracy Alliance (a think tank that focuses on long-term battles such as big money in politics, climate change and income inequality). Visit projectsyndicate.com to know more about George.
A Politico article states that he has voiced concerns over campaign laws that allow the rich too much influence in politics, citing an operative that says Soros believes is “odious for any one individual to throw too much political weight around through donations,” a sentiment some of his critics found ironic.
He may very well have kept that position had Donald Trump not thrown his hat into the political spectrum. Soros has made the fact that he is not a fan of the real estate tycoon clear; he believes his fearmongering works in ISIS’s favor and finds him to be a threat to the environment, civil liberties, and immigration reform.
Despite the unpleasantries of the 2004 campaign and donation concerns, George Soros, a man that thrives off of taking risks, brought his name and money into the 2016 campaign by committing $25 million to his friend of 25-years, Hillary Clinton, and other Democratic interests. His willingness to give so generously enticed other well-heeled donors such as hedge funder Don Sussman, environmentalist Tom Steyer, and others to back democrats running for office. Funnily enough, this fervent supporter of Democratic policies has never attended the Democratic convention but is clearly willing to continue pouring money behind his beliefs. Know more on Investopedia about George Soros.
Donald Trump surprised the world when he won the election. People around the world were stunned by the election’s outcome. Trump has worldwide recognition, thanks to his licensing deals on opensocietyfoundations.org. The Trump name is a brand, so everybody knows Donald Trump. Trump is one of those people that other people either love or hate. There is no middle ground when it comes to feelings about “The Donald.” New Yorkers have managed to tolerate Trump over the overs, and it appears the rest of the country will have to do the same thing over the next four years. But millions of people are mad, and they want to push the eject button and get that “bag of wind” out of the White House even before he moves in. That’s a tall order, but George Soros and other Democrats are trying their best to hold Trump accountable, according to a recent politico.com article.
George Soros is another person that has worldwide recognition. The Soros name is not associated with fancy hotels or golf courses. Soros is known for his philanthropic endeavors and for being one of the richest people in the world. George is not afraid to make donations. He spent more than $24 million on the 2016 election. George Soros wanted to keep Trump out of the White House. Soros had the same feeling about George W. Bush in 2004. The Democrats lost the election, but Soros and his wealthy political allies are not giving up the fight. The Democratic Alliance Donor Club recently met to discuss Trump’s presidency and to formulate a plan to keep Trump true to the American constitution. Keeping Trump in line will be an expensive, full-time job, but Soros and others are up for the challenge.
Challenges are something George Soros knows about first-hand. He became a refuge in the 1940s, thanks to the Nazi occupation of Hungary. Eighty-six-year-old Soros was born in Hungary to Jewish parents. George had to hide his faith in order to survive, but he has never denied he was Jewish.
Soros made his way to London, and he found a job in a restaurant. George was smart enough to be accepted to the London School of Economics. He earned two degrees in philosophy from that institution. George moved to America in the 1950s, and he went to work on Wall Street. He has been investing and giving money away for the Last 60 years. Trump may think he’s got a lot of support, but George Soros and other Democrats have just as much support now that the election is over.
George Soros has been much reviled on the right going back decades. He fought vigorously against Bush’s reelection and a continuation of the neoconservatives’ disastrous Iraq War. Despite the bitter aftertaste of defeat in 2004, George Soros proceeded to direct over $25 million toward the campaign of Hillary Clinton in 2016. He was undoubtedly spurned on by the fact that candidate Trump represented and even explicitly endorsed the antithesis of virtually every principle Mr. Soros holds dear. Unfortunately, his contributions this time too turned out to be for naught. The question arises, will George Soros continue his mega-magnanimity towards Democratic presidential nominees after so many costly losses? Or will he refocus and redouble his efforts to smaller but more effective areas where he has enjoyed a great deal of recent success?
What’s lesser known is that Soros himself is an ardent supporter of campaign finance reform. Indeed, in the Warren Buffett vein of folksy righteousness he’s cited himself as an example of how the system is broken.
That aside, his influence is widespread and widely publicized. But some of his more interesting plays have been decidedly minor league. Recently he’s racked up a hefty winning percentage backing progressive district attorneys in local races around the country. In one case he funded virtually the entire campaign of Democratic candidate Aramis Ayala, a progressive former public defender who ran on the platform of social justice and equality in sentencing. Soros infused almost $1.4 million into her otherwise unfunded campaign. She handily beat her opponent, the incumbent Jeff Ashton. A similar story unfolded in Louisiana when another George Soros funding vehicle backed the campaign of newcomer James Stewart against the district attorney Dhu Thompson. Thompson lost badly and proceeded to complain of “outside meddling” and unfairness. In truth these were major victories for Soros. And they cost him just a tiny fraction of what he donated to Mrs. Clinton’s campaign.
Read more: Here’s How George Soros’s Latest Predictions Have Played Out
Many observers note that Soros has quietly begun switching to these quieter, more insurgent-like tactics. Not only has he been on a winning streak with electing prosecutors friendly to his causes but the cost is also relatively small and the benefits are potentially enormous.
And in the case of the prosecutors he isn’t just installing a local elected official. District attorneys have one of the most powerful positions in the US criminal justice system in prosecutorial discretion. They have the power to bring or dismiss charges. In this way a prosecutor can single handedly shape the administration of local justice. Also, once elected many district attorneys go on to serve as state or federal judges. Some even make it to state and federal supreme courts. For a million dollars Soros is getting heck of a lot of value.
It’s said that Soros had a very cordial and close personal relationship with Mrs. Hillary Clinton. As antithetical as Trump is to his worldview, it’s quite possible Soros’ 2016 donations were as much a product of a genuine liking of Mrs. Clinton as they were a repudiation of Trump. The loss of Mrs. Clinton to Trump isn’t just a devastating blow to the progressive program, it marks the second time in just over a decade that a Soros backed candidate has lost. This must give the master philanthropist pause about the opportunity costs of playing high stakes presidential politics and losing.
But given his huge successes at the local level and his devastating losses at the national one, such an adept tactician could likely be expected to focus on what works.
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