George Soros is a popular billionaire based in America. He fled Hungary back in the year 1947 and went to England. In the new country, he went to the London School of Economics, graduating in 1952. This led him to acquire a position in a certain investment bank in London. However, he did not settle in London. He migrated into the United States in 1956, and in a new country, he was employed in various analysts investment management positions for over a decade.
George Soros decided to start his own company in 1973, abandoning employment. He founded a hedge fund company known as Soros Fund Management, and through hard work, the company evolved to become the popular and respected Quantum. In this new company, he managed to be ranked in top position regarding performance and success. He did this for more than twenty years, and on several occasions, his company reported over a hundred percent annual returns. He, however, chose to leave the everyday management of the company in the eighties, and because he had enough money and was one of the richest people globally, he chose to become a philanthropist, helping nations by donating huge amounts of money. He does this through his foundation, popularly known as the Open Society.
Due to the independence, he has acquired over the decades, his opinion in controversial matters is seriously respected. He is also a political activist, writing books and lecturing in different forums. He has also acquired a lot of knowledge in the financial markets, so his advice is not taken lately.
Recently The Street reported, all the shares belonging to George Soros foundation were withdrawn from all the three energy companies it had invested. This has surprised investors in the oil sector, considering that the decisions taken by George Soros are always taken serious all over the world. Although he acted through his companies, individuals should be worried, and if they intend to become as much money as he has made over the years, it is only wise to follow him.
The prices of oil have been going down continuously since 2014, and it seems that the trend is not going to change anytime soon. Investors and companies in the sector have tried all they can to boost the prices, but nothing seems to be working. Russia and Arabia even went to the extent of freezing their production just for a change, but the results weren’t good. One of the main oil producers did not agree with the freezing idea, pouring all its energy into the worsening market. These factors, adding to what George Soros has done clearly show that the energy market will continue to deteriorate, so investors should take action before it’s too late.