The incredible life of billionaire investing legend George Soros, the anti-Trump bogeyman of the far right
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George Soros.
George Soros, the billionaire investor whose net worth is valued at $25 billion, has been one of the most vociferous critics of President Donald Trump.
Even though Soros once invested in a company started by Trump’s son-in-law, the mogul’s vocal stance has made him the subject of frequent right-wing conspiracy theories about paying people to show up to marches.
To those primarily interested in markets, he is better known for his long and prolific career as an investor who famously “broke the Bank of England.” His track record has earned him comparisons with investing great Warren Buffett.
A teenage Jewish refugee who barely escaped persecution by the Nazis, he is now a philanthropist supporting the cause of refugees and a liberal world order. Here is Soros’ incredible backstory.
Prashanth Perumal contributed to an earlier version of this story.
As a Jewish teenager in Hungary in 1944-45, Soros and his family survived Nazi occupation using false identity papers prepared by his father.
Source: Open Society Foundations
Later he fled Hungary for England and studied philosophy at the London School of Economics under Karl Popper while working as a railway porter and night-club waiter.
Source: Open Society Foundations
After graduating, Soros wrote ‘to every managing director in every merchant bank in London’ asking for an interview but got ‘just one or two replies.’
Soros describes this period as the ‘low point’ of his life as he was humiliated at job interviews. He had to take up work as a salesman for a fancy-goods wholesaler.
Source: Soros on Soros
He eventually got hired by Singer & Friedlander, a merchant bank in London, as a clerk. Soros says Singer hired him because its managing director was Hungarian.
Source: Soros on Soros
Soros moved to New York City in the 1950s to work for F.M. Mayer. Years later, after working as an analyst and trader at various firms, he founded Soros Fund Management in 1970.
Source: Investopedia
Jim Rogers (pictured) and Stanley Druckenmiller worked for him at his Soros Fund Management. They went on to become investing legends in their own right.
Source: Economic Policy Journal
Soros made headlines raking in $1 billion in 24 hours on September 16, 1992, by making a huge bet against the British pound.
Source: ValueWalk
For 41 years, from 1969 to 2009, Soros compounded his investments at the rate of 26.3% — a $10,000 investment would have turned into $143.7 million.
Source: Casey Research
That’s better than Warren Buffett’s investment return of 21.4% over the same period — a $10,000 investment would have turned into $28.4 million.
Source: Casey Research
Soros used his academic background in philosophy to develop his own ‘theory of reflexivity’ in markets, which he sees as his life’s achievement.
Source: ABC News
Soros pledged $50 million for the Institute of New Economic Thinking, which aims to ‘provoke new economic thinking,’ after the 2008 financial crisis.
Source: Wikipedia
In recent years, Soros has turned toward philanthropy in support of international refugees and efforts to promote an ‘Open society’ across the globe.
Source: Open Society Foundations
Soros returned to trading in 2016 as he expected greater political uncertainty to provide opportunities to profit in markets.
Source: The Wall Street Journal
But things didn’t go well as he lost $1 billion after the surprise US elections.
Source: The Wall Street Journal
Soros wrote the US has ‘elected a con artist and would-be dictator as its president.’ He had earlier warned his friends saying ‘these times are not business as usual.’
Source: Business Insider
In May, news surfaced that Soros was one of the investors in a tech startup founded by the Trump’s son-in-law and top adviser, Jared Kushner.
Source: Business Insider
On the other side of the Atlantic, thousands took to the streets to protest in April when Hungary’s prime minister tried to shut down a university that Soros founded.
Soros has long been the source of right-wing conspiracy theories. Breitbart News has repeatedly published stories claiming Soros paid protesters to show up to anti-Trump rallies, despite a lack of evidence.
Source: Breitbart
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
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