Browse Category by Philanthropy
Financial Advisor, Philanthropy

George Soros Bounces Back In 2016 after His Political Spending Free In 2004

The real time net worth of the Hungary-born billionaire stands at $25.2 billion according to Forbes. George Soros, together with his family fled his country at the time of Nazi’s occupation and settled in London. He used the income he earned as a railway porter and waiter to see himself through the London School of Economics before starting his finance career at a merchant bank. George would later move to New York and started trading on Wall Street, an experience that challenged him to open his hedge fund worth $12 million in 1969. The hedge fund was later rebranded and took up the name Quantum Fund. He is well known for making an impressive profit in 1992, together with Stan Druckenmiller. George Soros established the Open Society Foundations. Many years down the line and George Soros presses on as far as making heavy investments is concerned – through the Soros Fund Management. SFM is a family office that boasts of assets worth $30 billion. George Soros recently appointed Dawn Fitzpatrick, a prominent professional in Wall Street, to manage his investment portfolio as the SFM’s chief investment officer. Soros has been supporting liberal causes for the longest time. Forbes terms him as a fierce critic of the current US President Donald Trump.

An article published in Politico on July 2016 revealed yet another rise by George Soros. He promised to offer over $25 million in support of Hillary Clinton’s campaign, as well other Democratic candidates and causes. George Soros had dialed back his giving after spending $27 million in 2004 aimed at ensuring the defeat of the former president George W. Bush. Besides coming back as the leading funder of the Democrat politics, George Soros bounced back as the leading boogeyman of the conservatives. Apparently, his support for Clinton was just occasioned by the desire to prevent Trump from becoming the president, but also by the fact that he has been friends with Clinton for 25 years. Other people who made donations to the Democratic Party include Tom Steyer, a San Francisco environmentalist who gave $31 million, Don Sussman, a New Yorker hedge funder who donated $13.2 million as well as the media moguls Fred Eychaner and Haim Saban who gave $11.1 million each.

Read more: http://www.politico.com/story/2016/07/george-soros-democratic-convention-226267

Towards the end of June 2016, George Soros committed $7 million to a super PAC, Priorities USA Action, which was in support of Hillary Clinton. Information available on the FEC records also revealed that Soros offered $2 million to an opposition research super PAC, the American Bridge 21st Century, and $700,000 to a number of Democratic Party Committees, campaigns, and PACs. Soros committed $5 million to yet another super PAC, Immigrant Voters Win, whose primary objective was to increase the voter turnout of the Hispanic community particularly in the key swing states. During the time that George Soros dialed back his giving, he shifted more of his philanthropic attention to his international foundations. Over the past three decades, he donated over $13 billion to nonprofit organizations and groups that are focused on defending the human rights, reshaping the democratic process of the Eastern Europe, and expanding access to education and healthcare in the United States and across the globe.

Follow George Soros on Twitter.

Philanthropy

DICK DEVOS – ENTREPRENEUR, PILOT, AND POLITICIAN

Dick DeVos is a well-known business person from Michigan, and he has been able to work in various executive positions in the recent past. Born in the year 1955 in Grand Rapids, Michigan, DeVos attended Forest Hills school. During his childhood, DeVos and his brother were involved in Amway, which was a family business. They used to help the family business in various ways, and it is from this that he developed a passion for entrepreneurship. He attended the University of Northwood, where he received a degree in Business Administration. Though he also attended Harvard Business School and Wharton School for Executive Study Programs, DeVos did not graduate. DeVos went forward and received honorary doctorates from Central Michigan University, Northwood University, and Groove City College.

In 1984, DeVos became one of Amway’s vice presidents, leading the company into opening new markets around the world. He has been able to serve on various boards in the past, and he is currently the president of Windquest Group. He is the Co-Chairman of Grand Action Committee since 1992, Founder and Chairman of Regional Air Alliance of West Michigan since 2010. He is as well a Member of Board of Directors of Willow Creek Association since 1997, Governing Board of Orlando Magic since 2003, Founder and Chairman of West Michigan Aviation Academy since 2010 and Chairman and Board of Directors of RDV Corporation.

Dick DeVos became the president and the CEO of Orlando Magic basketball team after his family acquired the basketball franchise in 1991. In 1993, DeVos left his position as the president and chief executive officer of Orlando Magic and rejoined Amway as the company’s president, thus replacing his father.

DeVos is a certified aircraft and a helicopter pilot. He married the former Betsy Prince, and they have been together for the last 35 years, and they have been blessed with seven children. He published his book “Rediscovering American Values” in 1997, and it is available in seven different languages.

Dick DeVos’ political activities can be traced back in 1990 when he won the election of the Michigan State Board of Education. In 1996, he was appointed to the Grand Valley State University Board of Control by Governor John Engler. In 1993, DeVos and his wife became co-chairs of Education Freedom Funds, where they helped in providing scholarships to low-income families in Michigan by covering all the administrative costs of the organization through their foundation.

He believed that Michigan’s economy needed to improve and more jobs created to tackle the high rate of unemployment. In November 2006, DeVos was defeated in the gubernatorial race by Democrat’s Jennifer Granholm by only 14 points.