Financier George Soros has gone down in history by “breaking” the Bank of England in September 1992; he made $1 billion that day as the British government devalued its currency and yanked it out of the European Exchange Rate Mechanism.
Born in Budapest on August 1930 to an affluent Jewish family, George Soros escaped Nazi oppression by fleeing to Britain, where he earned a degree from the London School of Economics in 1952. After briefly working with investment bank Singer & Friedlande, he moved to the United States in 1956, and years later, formed Quantum, one of the country’s first hedge funds, which grew to manage over $20 billion in assets. George Soros is also a reputed philanthropist, with the Soros Foundation awarding scholarships, giving technical assistance, and looking for ways to modernize businesses and schools in Eastern Europe, particularly in Hungary.
George Soros is also the founder of Open Society Institute, which continues his earlier work in catalyzing democracy around the world. He retired from managing hedge funds in 2000.
George Soros’ biography can be read on the official site of Open Society Institute, a nonprofit dedicated to advancing democratic or “open societies” the world over.
Forbes ranks George Soros the 28th Richest American.
In this interview with CNN, George Soros describes the 2008 recession as the worst economic crisis in 75 years.
The New York Times has compiled its articles on George Soros, along with a brief bio of the businessman.
On its April 1997 issue, Time Magazine placed George Soros among the “25 Most Influential Americans.”
Recognizing his work with Open Society Institute, Time Magazine honors George Soros as one of 2007’s Most Influential People in the field of philanthropy.