George Soros gives 18 billion to “Open Society” foundation. Expect many more Black Lives matter type protest
EGeorge Soros, who built one of the world’s largest fortunes through a famous series of trades, has turned over nearly $18 billion to Open Society Foundations, according to foundation officials, a move that transforms both the philanthropy he founded and the investment firm supplying its wealth.
Now holding the bulk of Mr. Soros’s fortune, Open Society has vaulted to the top ranks of philanthropic organizations, appearing to become the second largest in the U.S. by assets after the Bill and Melinda Gates Foundation, based on 2014 figures from the National Philanthropic Trust.
George Soros began his giving in 1979 and stepped it up to fight communism across Eastern Europe. In 1984, he set up a foundation in Hungary, the country of his birth, that distributed photocopiers to universities and libraries to break the government’s hold on information.
Having lived under both communism and a Nazi occupation in Hungary, Mr. Soros hoped to foster “open societies” in places where authoritarian governments held power. He named his foundation after a book by the philosopher Karl Popper, one of his teachers, that defended liberal democracies.
Open Society today has a broad mandate driven largely by its founder’s values. It operates through a network of more than 40 foundations and offices in countries from Afghanistan to South Africa.Open Society’s activism has sometimes angered nationalist governments, such as the current one in Hungary, who view his “philanthropy” as outside interference.
In the US., where George Soros is a major contributor to liberal and Democratic causes, and only liberal and Democrat causes. Open Society has supported efforts to overhaul immigration policies and the criminal-justice system, including prisons, and funded mentoring programs for black and Latino young men. It has supported activists working on issues raised by the Black Lives Matter movement.
George Soros funded Latino get-out-the-vote efforts last year and donated to largely Democratic district-attorney candidates around the country. A Hillary Clinton supporter, he was an outspoken critic of Mr. Trump, whose campaign cited Mr. Soros in a closing ad as part of a “global power structure” the ad said disadvantaged the working class. After the election, Open Society said it would spend $10 million to fight hate crimes, a problem Mr. Soros said had been inflamed by the Trump campaign.
In all, Mr. Soros and Open Society have given $14 billion so far, said a foundation spokeswoman.
Let’s be real when it comes to Democrats philanthropic foundations are a way to shield income from the IRS while funding liberal causes. That is all Open Society is. That is all the Clinton Foundation is. Every Time you watch the NFL, Black Lives matter, occupy Wall Street, Antifa rallies Open Society and George Soros has funded them. Congress is considering tax reform. How about closing the loophole that allows George Soros to fund Black Lives matter?