Who is George Soros and what is net worth of him? With many feathers added to his cap, the billionaire investor, business tycoon, and philanthropist is a well-known personality in the world. Listed among the 30 richest people in the world, George Soros doesn’t need any introduction. The Hungarian –American tycoon had amassed a wealth of $25.2 billion.
Despite many obstacles faced by him in his career; didn’t stop him from reaching the zenith of fame and glory. After escaping from Bucharest, the capital of Romania in 1947, he fled to England. During that time Bucharest occupied was by the Nazi’s. He successfully completed his bachelor’s and master’s from London School of Economy in the field of Philosophy. After a few years of corporate stint in various merchant banks, he started his own hedge fund venture, Double Eagle, in 1969. After one year, he was successful in incorporating Soros Fund Management with the help of profits generated from Double Eagle.
Eventually, Double Eagle name was changed to Quantum Fund. The assets of Quantum Fund have increased from $12 million at the beginning to $25 billion. In the year 1992, he was able to make a profit of $1 billion by his short sale of $10 billion in pound sterling. After this event he was well known as “The Man Who Broke the Bank of England” and the event came to be known as 1992 Black Wednesday UK currency crisis. He used to apply his theories of Philosophy into capital markets, which helped him to get a clear picture of the prevailing situations. To our utter surprise, he had donated $11 billion as a token of charity in between 1979 and 2011.
The married life of George Soros had seen many ups and downs with three marriages and two divorces. His first marriage was with Annaliese Witschak, in 1960. They had three children: Robert Daniel Soros, Andrea Soros Colombel, and Jonathan Tivadar Soros. The first marriage lasted till 1983 and ended with a divorce. His second marriage was from 1983-2005 with Susan Weber, which had two children. He married Tamiko Bolton as his third wife.
George Soros Net Worth
The net worth of George Soros till date is $8.2 billion. He had travelled a long way from being a railway porter to the giant in the world of investment. Moreover, he ranks among the 30 richest men in the world. His migration from England to New York catapulted his career from a mere banker to that of the founder of Soros Fund Management. One of the world’s renowned and heavyweight investor rules the Wall Street with his most capable managers and CIO (Chief Investment Officer). Dawn Fitzpatrick, a woman of caliber and one of the important women of Wall Street was being hired by George to become the CIO of Soros Fund Management.
Sitting on the pile of the huge amount of money, George Soros is the owner of 16 room apartment at 1060 Fifth Avenue, New York. He had paid a divorce settlement of $24 million to Susan Weber to retain this property. 19 rooms Bedford Mansion is also purchased by million dollar investor George Soros. Many known celebrities also own a piece of land in Bedford hills a suburb of New York City.
Credited as the founder of Soros Fund Management and Quantum Fund; one of the best investment companies in the world. They are basically hedge fund companies that bet on a different currency. A clear analysis of different markets and currencies helps them in sustaining huge profits. Apart from investment companies, charitable organisations like Open Society Foundations looks after the philanthropic activities carried out by George Soros. They believe in hiring the best managers to look after the day to day activities.
A person who was able to earn $1 billion by betting on currency is adored for his witty investment skills. One of the respectable names in the financial community had made many good investments, but some of the best investments made by him are:-
By building a short position in sterling in 1992, George Soros was able to make a profit of $1 billion in 1 day and this is remembered as the greatest currency trades of all times.
He was able to earn $1 billion again by putting a bet on yen in the year 2013 and 2014.
Soros Fund Management, the organisation looking after the wealth of George Soros has purchased few stocks in Goldman Sach. This is one of the biggest buys in the last quarter of 2016 by the global investment company, during Trump victory as US president. Being a strong supporter of democratic ideologies, George Soro is being targeted by the group of Republicans and Russia.
The story of the great man can’t be described in few thousand words. Considered as the Guru of investment, even modern investors get inspired from George Soro. From rocking the Bank of England to donating a huge amount to charitable trusts, this man is still impacting the investment world. Want to make lots of money? You can learn many things from George Soro.