George Soros is the best example of from rags to riches. After fleeing Hungary, his home country, he did all the odd jobs in London, including working in a hotel and as a railway porter. While at these jobs, Soros could not contain his desire for success and it led him to enroll in a finance course at London School of Economics. Equipped with his papers, he went on to land a job at a local merchant bank. In 1969, he left London for New York and started the Quantum Fund, a hedge fund he fully managed. His major breakthrough, however, came in the early 1990s when he joined hands with Stan Druckenmiller, one of the then Quantum Fund managers, to successfully short the sterling pound. Today, Soros invests in the hedge fund industry through Soros Fund Management, a company he has seen its asset worth grow from $12 million to $30 billion over the last 38 years. Dawn Fitzpatrick is the current CIO of Soros Fund Management, a position she was given early this year.
Soros’ Political Involvement
Within the American political circles, George Soros is inclined towards the Democratic Party. His first major political involvement was in 2004 when he donated a whopping $27 million to fund the campaign of John Kerry against President George Bush. After Kerry had lost, Soros went into a 12-year political hibernation until last year when he re-emerged to support Hillary Clinton’s presidential bid. Sources from the Democratic Party and the data obtained from the Federal Election Commission, Soros made donations of not less than $25 million to fund Hillary’s campaign. His close associates revealed that he wanted to attend the Democratic convention to listen to Hillary’s acceptance speech after she won the presidential nominations. His plans, however, did not materialize as he got tied up in a business trip in Europe. The associates further revealed that Soros was planning to increase his funding as the elections day approached. Read his profile at Forbes.
It could be interesting to know the main reason that prompted George Soros to re-emerge so strongly from his hibernation at 85 years of age. Rumors, which could not be far from the truth, had it that his sour relationship with the then Republican candidate, Mr. Donald Trump, had prompted him to return to politics. According to Michael Vachon, a political expert and a close political confidant of Soros, the seasoned entrepreneur felt a Trump presidency would threaten his beliefs. In particular, Soros showed an outward criticism towards Trump’s stand on the American immigration policy, religion tolerance, and the criminal justice system. After his big money entry in the presidential campaign, Soros motivated other anti-Trump billionaires to jump on the Democratic bandwagon. Among the notable businessmen who followed Soros’ steps included Tom Steyer, Don Sussman, Fred Eychaner, and Haim Saban.
Visit his profile on twitter.com.