George Soros: The World’s Most Successful Financier
George Soros is undisputedly one of the world’s most successful financiers. Born in the year 1930 at Budapest, he fled Hungary which was a communist state at the height of the Second World War and moved to England. He then enrolled into London schools of Economics where he pursued a bachelor’s degree in Economics. Immediately after that he moved and settled in United States. He pursued his career through the setting up of the Soros Fund Management which he founded and is now managing.
Soros Fund Management is an internationally recognized investment Fund. George Soros commands a lot of respect in the field of fund investment and his views on bloomberg.com investing and economics issues are followed globally.
Recently George Soros made remarks concerning the economic growth of the Chinese government. He is of the view that the growth of China as a country has been hindered by the large amounts of debts it has. He based his arguments on figures that were released for the month of March which show a decline in growth of the China’s economy. Soros has likened what is happening in China to what happened in the United States in the year 2007/2008 when it faced financial crisis.
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In the year 1979 George Soros having accumulated a considerable wealth ventured into philanthropy. As a billionaire he founded the Open Society Foundation. This foundation pioneered the supporting of black students through giving of scholarships for their study at the University of Cape Town in South Africa.
George Soros has a vast of knowledge in the investment fund field being a pioneer of the hedge fund industry. He has also authored a number of books on finance including The Alchemy of Finance and many others.
His philanthropy has no borders. He supports projects in the United States, Africa and Asia. Through the Open Society Foundation which he chairs, he has managed to help a lot of people. He has provided legal representation to many people who were held for a long period of time without legal representation by supporting lawyers and paralegals to keep track of their cases. His organization has managed to provide school and university fees to students who are in armed conflict countries who are in need of education.
During the World Economic Forum in January this year Soros made remarks that China’s economic growth cannot be achieved because the Chinese banks have more loans than deposit which is a time bomb waiting to explode. China has been in the borrowing spree which could really hurt its growth by derailing the economic recovery.
People in China are pulling their money out of banks which is quite a concern. On the foreign exchange policy Soros is very optimistic that the Yuan will perform quite well because of the cooperation that China and United States have.
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