In the recent past, numerous foundations have been established with the key objective of alleviating holistic poverty among the people. Their main focus has been to make the world environmentally sustainable and free from human injustices. One such generous foundation in the world is the Open Society Foundations founded by George Soros in 1979.George Soros was born in Hungary in 1930. He survived the 1944-1945 Nazi occupation and moved from Budapest to London in 1947 where he became a part-time railway porter and night-club waiter to aid his education at London School of Economics. Soros began investing in the United States in 1956 and this marked the beginning of his success before establishing the Open Society Foundation in 1979.
According to the Open Society Foundations’ website, this foundation is a network of foundations, projects and partners in over 100 countries. It works to promote human rights, combat authoritarianism and aid “marginalized” groups like the minorities and refugees. According to spokesperson Laura Silber, over $14 billion have been spent by the foundation since 1980s and is currently valued at $18 billion. She further indicated that it is ranked the second largest charity basing her argument on the National Philanthropic Trust.The Open Society Foundation provided scholarships to South Africans in 1979 and assisted in promoting free expression in Hungary by funding academic visits to the West in 1980. Soros become the founder of Central European University which is the leading regional social sciences study centre. After the Cold World War, Soros extended his philanthropy to Africa, United States, Asia and Latin America advocating for democratic, transparent and accountable societies.
The Wall Street Journal reported that Mr. Soros has, for decades, annually funded the Open Society Foundations through about 800 million or $900 million. However, in 2017, he increased his donations to $18 billion in line with his estate planning, bringing his total giving to the foundations since 1984 to over $30 billion. The foundations have also donated university and school fees for numerous bright students and supported the discriminated members of the society.Mr. Soros has consistently been committed to fighting the world’s greatest intractable challenges throughout his legacy. He is famous for emphasizing the need to tackle losing causes through both private and public fora. This has seen him gain respect and adoration the world over. His fortune is managed by Soros Fund Management that oversees endowment investments of the Open Society.