The $18 billion contributions by the leading philanthropist and billionaire, George Soros, to Open Society Foundations has made a big shake in the American civil society just less than three months back. The Atlantic reports that the announcement has made the conservative groups highly upset with the decision of Soros. The conservative theorists were always behind Soros for the past three decades due to his liberal thoughts, attacks on flawed conservative policies, opposition and campaigning against George W. Bush and Donald Trump during their respective Presidential elections, and more. It is the strategy of conservatives to demonize the acts of Soros and justify their stands through that.
The theorists usually follow a strategy of plotting Soros as someone who wields enormous influence and power in the financial world. Though he has efficiently utilized by the market factors to generate wealth, Soros was not someone who influenced to rule the industry as the conservatives say – perhaps no individual yields such a power in the enormous financial world. If it is about the philanthropic world, up to an extent, he exercises power through his Open Society Foundations to shape the societies to the future. Interestingly, his huge gift to Open Society Foundations has made it the second-biggest charity group in the United States.
This factor has infuriated the conservative groups as the news made Soros a major point of discussion. While conservatives target Soros with theories, it is expected to invoke the progressives to spot the conservative billionaires like Koch brothers. Due to the level of scandals and malpractices reported against the conservative billionaires, the strategy may backfire the conservative groups at the end. However, the theories targeting genuine efforts and contributions are expected to make detrimental effects in the society in the long run – the point most conservative theorists fail to understand. It would also reduce grassroots level activism, and people may tend to stay away from charity works or contributions.
Though George Soros has earned significant fortunes from the free market, he believes that excessive competition may damage the open society concepts. To elaborate on this, the expansion of market values and intensification of capitalism is slowing accessing all aspects of the life. Due to that reason, Soros wrote almost two decades back that capitalism is creating the biggest threat to open society concepts, not communism. However, he accepts that capitalism cannot create the extent of damage communism can – as the latter is a totalitarian concept.
George Soros started his life journey from Budapest in the early 1930s. Surviving the Second World War and German invasion as a Hungarian Jew, he and the family shifted to London in 1947. Soros started his college education at London School of Economics. After earning graduation, he moved to the U.S. and began testing his fortunes in the American capital markets. In 1970, with his experience, Soros set up a hedge fund company called Soros Fund Management. With his vision and thoughtful market strategies, it harvested significant success in the market. Since the late 1980s, Soros started his charity mission by setting up Open Society Foundations.
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