Garnered over a lifetime in the hedge fund world, liberal pot-stirrer George Soros boasts a net worth topping $25 billion. For all the concern over money in politics we’ll often hear from our liberal friends, they don’t seem to mind the massive influence Soros plays in far-left politics.
The man reportedly spent $27 million to oppose George Bush’s 2004 re-election and $13 million in support of Hillary Clinton, which is a nice reminder that the man doesn’t always get what he wants.
In the Trump era however, Soros has decided to go all in, and shift the vast majority of his net worth into his “Open Society Foundation” from which his political tinkering is carried out.
According to the Financial Times,
George Soros has given away $18 billion, the bulk of his personal wealth, to the Open Society Foundation, bringing his charitable giving over his lifetime to around $32 billion. The 87-year-old legendary hedge fund investor has been working to transfer the billions he has made in finance over the past several years to the foundation he founded as he made arrangements for its long-term future.
Mr Soros has retained an active role in guiding OSF as chairman of its global board, which includes among its members his sons Alexander and Jonathan. But staff said Mr Soros had decided several years earlier to clarify the organization’s structure and leadership before making another large endowment.
Given his old age, it’s likely this is a form of succession planning on his behalf (as it shelters his wealth from the estate tax following his untimely demise). It also guarantees that long after he’s gone, he’ll live on in politics through his wealth.