Understanding George Soros beyond his Wealth and Success

George Soros is arguably one of the leading wealthy philanthropists in the world. This reputation stems from giving more than $12 billion throughout his life. Although Soros is a renowned billionaire and outspoken individual, especially on global economic/financial matters, his background and success journey is nothing short of inspirational.Born in 1930 in Hungary, George Soros experienced firsthand the devastation associated with the infamous Nazi occupation, which claimed more than 500,000 innocent Hungarian Jews. His Jewish family had to play smart or face the wrath of the Nazi. As such, they survived the occupation through concealing their backgrounds, securing falsified identity papers, and assisting fellow Jews to survive.

In a desperate effort to escape the invasion, Soros fled Budapest for London in 1947.While in London, George Soros had to work part-time jobs including serving as a nightclub waiter and railway porter to finance his studies at the London School of Economics. Later in 1956, he went to the US, where he ventured into the lucrative world of investment and finance. Soros launched the Soros Fund Management in 1970, which marked the beginning of his success journey to become one of the accomplished investors in the US.

Soros as an Author

Aside from being a force to reckon with in the financial realms, he is a prolific writer who has penned numerous articles and books. In his piece titled, The Capitalist Threat, Soros indicates his concerns about that the unrestricted intensification of laissez-faire capitalism and continuous spread of market values into various areas of life threatening the current democratic and open society. In fact, he stresses this point by citing that he believes that capitalism is the main adversary of open society as opposed to communism.Being a renowned proponent of Karl Popper’s philosophy of open society, George Soros explores the philosophy further. In the process, he understands the reason why nobody can access the ultimate truth. In fact, the answer to him is that humans live in a universe that they are constantly trying to comprehend. As such, it would be easier to access the truth if only the subject matter belonged to one universe while their thoughts belonged to another.

Philanthropic Endeavors

The Open Society Foundations spearhead most of George Soros’ charitable activities. In fact, he embarked on his first philanthropic activity in 1979 when he gave scholarships to South African students during apartheid. Since the formation of the foundation, Soros has assisted numerous lawyers and paralegals in representing thousands of illegally held people. Additionally, he has provided support to other organizations including the Institute for New Economic Thinking, Global Witness among many others.

Seek To Understand The Different Types Of Investment

These were the words of one investment advisor; Timothy Armour. Tim attended college at Middlebury in Los Angeles where he attained a bachelor degree in Economics. Soon after school he joined Capital Group where he worked as a participant in the associates program. Following his experience, commitment and hard work, the board of directors of Capital Group decided to elect him as the chairman on July 2015.

He was to take that position from James Rothenberg who passed away as a result of health problems. Prior to this, he worked at Equity Investment Company as an investment analyst where he covered global telecommunications and the United States service companies. Capital Group’s goal is to deliver great long term investment to the clients and investors and also it is committed serve the investors and their advisors in the best way possible.

Armour advises the investors to go for active managers who are dedicated and committed to their work. In the past the investors have experienced huge losses resulting from too many mediocre and expensive funds, but with the active managers their returns are bond to grow. The reason is that managers will be keener on the market trends and thus invest the funds entrusted to them in high return ventures. Moreover the active managers will make sure that the investors save more for retirement and stay invested for a longer period of time.

Warren Buffet; an investor, has in the past years proven to be the best made it through by using the approach of bottom –up investing; analyzing companies and build a durable portfolio. Furthermore, he talks of how the consumers should be keen on the product labels in, consumers should be wary of product labels in different industries. He uses the index funds instead of hedge funds where he has already invested in S&P 500 passive index fund. Armour thinks that Buffet is right and emphasizes that investors should look for the best method of investments so as to benefit from them now and in the future.

Read more on LinkedIn and Medium.com.