Why George Soros has been the Subject of Conspiracy Theories Despite his Enthusiasm for Philanthropy

After Donald Trump had won the 2016 US presidential elections, hundreds of people in pink hats protested his negligence of women’s rights. Conspiracy theorists suggested that George Soros, a Hungarian high net-worth individual and hedge fund manager, financed the protesters. These claims are false since, despite his funding for political campaigns, Soros is not affiliated with any political groups. His donations represent his love for philanthropy.

At 86 years old, George Soros is known for earning his wealth from the hedge fund industry. In the early 90s, he managed to bag over $1 billion after his prediction on the strength of the British Pound came into reality. He predicted that the Pound would be the key currency in the monetary system of England. Learn more about his profile at Forbes.com.

Politics

With a net-worth of $25 billion, Soros has been discussed by conspiracy theorists regarding how he spends his cash. In 2004, his name was on news outlets after he provided financial support to political groups that were against the reelection bid of President George Bush. He was also criticized for being against the Iraq war after he spoke about the war.

According to the spokesperson for the Soros Fund Management, an institution founded by George Soros, conspiracy theories about Soros began after he opposed U.S. involvement in the Iraq war. To avoid the critics, Soros has been focused on donating money to Democratic reform organizations across the globe.

George Soros has been compared to the Koch brothers who support Republican party candidates and campaigns by donating billions of dollars. European countries have also tried to stand against his donations. For instance, the president of Hungary passed a law that would lead to the closure of a university founded by Soros. Visit Project Syndicate to learn more about George.

Philanthropy

As one of the most prolific philanthropists, George Soros has spent over $1.2 billion on charitable endeavors. His money targets organizations and individuals from different parts of the world, fighting for accountable government, transparency, and freedom of expression. He also used his wealth to create Open Society Foundations, a philanthropic network of projects, foundations, and partners, with a presence in over 100 countries. Open Society’s name is derived from Soros’s philanthropic philosophy of empowering the society.

Open Society Foundations

Despite the criticism, Soros is committed to social justice through his support for Open Society Foundations. According to recent posts published on the organization’s website, through Soros’s financial support, Open Society has spent over $1.6 billion. The money was used in fostering democratic development in the Eastern Europe region.

Soros is among the people who fled Hungary when the Nazi were in control of the country. He has used his wealth to foster capitalism in countries that were part of the former Soviet Union. Through Open Society, Soros advocates for democratic governance, criminal justice, and immigration in the U.S.

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