George Soros Provides More Than $18 Billion with 38-Year Philanthropic and Educational Contributions
Philanthropy is defined as the “love of mankind”. The concept of giving and serving to those who are in greater need is an unselfish act of humanity. For George Soros, the concept has been at the core of his entire life. George is among the wealthiest people in the world with an estimated net worth of $23 billion. However, that number may be altered a bit once the check for $18 billion clears the bank which he donated to Open Society Foundations.
George announced in October 2017 that he will be handing over $18 billion of his fortune to the foundation he founded in 1979. It is not surprising to those who know George well, but it is news that has now made history. With his donation, the Open Society Foundations will be the second-largest funded charity organization within the world. George’s donation made further history by being the largest documented donation to a charity or nonprofit agency by a single donor.
Since George does not seek the limelight when he gives, there is nothing left for him to do other than write the check. But, for the foundation, the donation means more outreach to the communities that Open Society Foundations helps with grants, scholarships and infrastructure building. The unprecedented donation will be funded through an endowment to the foundation.
George began his philanthropic work in 1979 by first participating in the rebuilding of South African’s infrastructure after apartheid- one of the worst atrocities of the world. Through his efforts, George gave scholarships to expand education opportunities to black South Africans. George is a firm believer in education. He has contributed millions of dollars over the years to major inner-city school systems such as New York City and Baltimore City.
During the transition of capitalism in Eastern Europe, George was extremely instrumental in the strategy of building a peaceful transition. He created Europe’s largest endowment for higher learning and education; bestowing it upon Central European University. With the $880 million funding from George, Central European University is among the highest ranking academic programs in the world within social sciences and it is the leading University within Europe.
Using his personal wealth, 87-year old George Soros has contributed well-over $11 billion in support of societal changes, resources and outreach needs all around the globe. His personal belief is that all people and societies are prone to differences, but that those differences should be the catalyst to bring positive change. Although some political groups or “alternative-society” activism groups might not understand George’s concept and intentions clear enough to forgo demonizing decades of philanthropic efforts, the astounding contributions of service, commitment and personal wealth provides more than enough clarity.