Billionaire philanthropist George Soros has recently pledged to donate $500 million dollars to help refugees and migrants. According to a Forbes.com report, the money will be earmarked to help businesses that are owned by migrants and refugees.
Soros stated that he will be investing in “startups, established companies, social impact initiatives, and businesses” founded by migrants and refugees. While his focus will be on refugees that are entering Europe, he will also be looking to invest money in good causes all over the world.
George Soors’ charitable donations are much needed currently. According to the United Nations, over 65 million people have been displaced due to war and persecution in 2015 alone. As war and terrorism rages in many parts of the world, many citizens will flee their countries in an effort to stay alive.
Soros has stated that these contributions will be considered as “investments” instead of grants on discoverthenetworks.org. He has set it this way in order to prove that the private sector can play a role in helping migrants and refugees. He fully expects that these companies will turn a profit and that money will be able to help more refugees in the future.
George Soros has a unique perspective on the plight of refugees as he was one himself. He was born in Hungary in 1930 and grew up under Nazi occupation. As a teenager, he fled Communist rule and wound up as e refugee in London. There he went to the London School of Economic and later started his professional career on project-syndicate.org. In 1993 he founded the Open Society Foundations, a charitable organization dedicated to fighting for human rights all over the world.
As one of the world’s most prolific philanthropists, George Soros has given away more than $12 billion in his lifetime. He has supported organization around the globe, fostering open governments, human rights, and social justice on Investopedia. This recent pledge to help refugees is just another in a long line of philanthropic contributions that has defined Soros’ life.