George Soros Net Worth: $24.2 billion
George Soros is a Hungarian-born American business tycoon, author, investor, philanthropist, and chairman of the Soros Fund Management. He immigrated to England from Hungary during World War I and studied at the London School of Economics. In 1951, he graduated with a degree in philosophy and earned a PhD in philosophy in 1954, both from the London School of Economics. Soros moved to New York City in 1956 and worked as an arbitrage trader for F.M. Mayer, specializing in European stocks. He worked in other banks until 1967 when he played an instrumental role in the founding of First Eagle Funds, an offshore investment fund. The hedge fund earned $12 million in 1973 and was the foundation of the Soros Fund. George Soros’s total estimated net worth is $24.2 billion.
How did George Soros make his money?
Soros is known as “The Man Who Broke the Bank of England” through short-selling US$10 billion worth of pounds during the 1992 Black Wednesday currency crisis. He profited $1 billion during that transaction. The Soros Fund was founded in 1970 with Soros as chairman but he was forced to resign from First Eagle due to conflict of interest. The fund was later named Quantum Fund after the principle of quantum mechanics. In 2011, Soros announced that he had returned funds from outside investors’ money and invested his own fortune valued at $24.5 billion. In 2013, the Quantum Fund earned $5.5 billion, making it the most successful hedge fund in history, with a total of $40 billion since 1973. He has donated a total of $11 billion to causes related to education, non-violent democratization, agriculture, health and many more.