George Soros Parents: Meet Elizabeth And Tivadar Soros
Matthew Martinez George Soros Parents: Meet Elizabeth And Tivadar Soros: Born on August 12, 1930, George Soros is a Hungarian-American businessman and philanthropist.
He’s the chair of Soros Fund Management LLC and founder of the Open Society Foundations.
Born in Budapest, Hungary, Soros survived the Nazi occupation of Hungary and moved to the United Kingdom in 1947
He schooled at the London School of Economics where he bagged a Bachelor of Science in philosophy in 1951 and a Master of Science in philosophy in 1954.
After graduating, Soros wanted to work at the university as a professor but his grades were not high enough, hence worked for an investment firm in London.
In 1954, he started working in British and American merchant banks. He worked at Singer & Friedlander of London, F. M. Mayer, Wertheim and Co., and later joined Arnhold and S. Bleichroeder.
In 1969, Soros set up his first hedge fund, Double Eagle and profits made from this fund provided the seed money for Soros Fund Management in 1970.
Later, his first hedge fund, Double Eagle which he founded in 1969 was renamed Quantum Fund and was the principal firm Soros advised.
During the 1992 Black Wednesday UK currency crisis, Soros made a profit of $1 billion as a result of his short sale of US$10 billion worth of pounds sterling.
As a result of making a $1 billion profit during the 1992 Black Wednesday UK currency crisis, he’s known as “The Man Who Broke the Bank of England”.
Based on his early studies of philosophy, Soros later established the General Theory of Reflexivity for capital markets
This firm provided insights into asset bubbles and fundamental/market value of securities, as well as value discrepancies used for shorting and swapping stocks.
Soros supports progressive and liberal political causes. He dispenses donations through the Open Society Foundations.
His extensive funding of political causes has made him a “bugaboo of European nationalists”
Between 1979 and 2011, Soros donated more than $11 billion to various philanthropic causes.
He influenced the fall of communism in Eastern Europe in the late 1980s and early 1990s.
Soros also provided one of Europe’s largest higher education endowments to the Central European University in his Hungarian hometown
George Soros Parents: Meet Elizabeth And Tivadar Soros
George Soros was born in Budapest, Hungary to his parents; Elizabeth Soros (mother) and Tivadar Soros (father).
His mother operated a successful silk store while his father was a lawyer and a renowned Esperanto author who edited the Esperanto literary magazine, Literatura Mondo.
His father, Tivadar had also been a prisoner of war during and after World War I until he escaped from Russia and rejoined his family in Budapest, the Capital of Hungary.
Elizabeth and Tivadar married in 1924. Initially, their family name was ‘Schwartz’. In 1936, they changed it to ‘Soros’ due to antisemitic (a form of racism) in Hungary.
