Who is George Soros? - BBC News

Summary

George Soros, a billionaire philanthropist and speculator, is known for his significant financial maneuvers, such as 'breaking' the Bank of England. He has donated to pro-remain groups in Brexit and supports various political figures like Hillary Clinton and Barack Obama. His charity, Open Society Foundations, has donated $32 billion to promote vibrant and tolerant democracies. Despite his philanthropy, he faces criticism and conspiracy theories, especially from his native Hungary's government, which has enacted 'Stop Soros' laws against him.

Takeaways

• 💵 George Soros amassed around a billion dollars, earning the title of 'the greatest speculator'.
• 🏦 He is famously known for 'breaking the Bank of England'.
• 🗳️ Soros has been a significant political donor, supporting figures like Hillary Clinton and Barack Obama.
• 💸 In the 1980s, he played a role in undermining Hungary's communist regime.
• 🌍 His charity, Open Society Foundations, has donated over 32 billion dollars towards building vibrant and tolerant democracies.
• 🚫 His support for refugees in Europe has been controversial, with his own Hungarian government showing hostility towards him.
• 💣 He was the first target in a mail bombing campaign aimed at opponents of President Trump.
• 📰 He is often at the center of conspiracy theories on social media, many of which are anti-Semitic.
• 👶 Born as Gog Schwartz, Soros grew up in a Jewish family in 1930s Budapest and learned survival skills from his father.
• 💼 His experiences during the Nazi occupation and fleeing communism influenced his later career as a fund manager.
• 📉 In 1992, Soros earned his reputation as a ruthless financier during the Black Wednesday crisis by short-selling the British pound.

Q & A

Who is George Soros?

George Soros is a billionaire investor, philanthropist, and known as 'the man who broke the Bank of England' due to his significant role in the 1992 Black Wednesday crisis.

What is George Soros known for in the financial world?

George Soros is renowned for short-selling the British pound during the 1992 Black Wednesday crisis, which resulted in him making about a billion dollars and the UK government losing approximately 5.5 billion dollars.

What is the name of George Soros' charity?

George Soros' charity is called the Open Society Foundations, which has donated 32 billion dollars towards building vibrant and tolerant democracies.

How much money has George Soros donated to pro-remain groups in the UK?

George Soros has donated about 800,000 pounds to pro-remain groups in the UK, specifically to Best for Britain, to help launch their campaign for a second EU referendum.

What is the Hungarian government's stance on George Soros?

The Hungarian government is openly hostile towards George Soros, having implemented legislation named 'Stop Soros' which requires organizations supporting illegal immigration to be registered.

What was George Soros' childhood like?

George Soros grew up in a Jewish family in 1930s Budapest, survived the Nazi occupation by posing as a relative of a government official, and later fled the communist regime in Hungary to England at the age of 17.

How did George Soros' childhood experiences influence his later life?

Soros learned survival skills from his father during his childhood, which he credits for his risk-taking and survival instincts as a fund manager.

What is the main goal of the Open Society Foundations?

The main goal of the Open Society Foundations is to support the building of vibrant and tolerant democracies around the world.

How does George Soros view his impact on the Bank of England during Black Wednesday?

George Soros states that his impact has been overstated, and he did not break the Bank of England. He claims it was the market that broke it, and he was just leading the charge.

What is the 'Stop Soros' legislation?

The 'Stop Soros' legislation is a Hungarian law that targets organizations supporting illegal immigration by requiring them to be registered.

Why is George Soros a controversial figure?

George Soros is a controversial figure due to his significant financial dealings, political donations, and philanthropic efforts, which have led to him being both admired and criticized, and often the subject of conspiracy theories.

Outlines

00:00

💵 George Soros: The Billionaire Philanthropist and Investor

George Soros, a Hungarian-American investor and philanthropist, is known for amassing a fortune estimated at around a billion dollars. He is often in the news and has been labeled as a key figure in Brexit, donating £800,000 to the Best for Britain campaign advocating for a second EU referendum. Despite his unpopularity in some circles, including Twitter where he's often the subject of conspiracy theories, Soros has been a significant political donor to figures like Hillary Clinton and Barack Obama. In the 1980s, he played a role in undermining Hungary's communist regime. His charity, the Open Society Foundations, has donated $32 billion towards building vibrant and tolerant democracies. Soros's support for refugees in Europe has been controversial, with his native Hungary enacting legislation targeting organizations supporting illegal immigration, which was seen as a direct attack on him. His early life in 1930s Budapest, including surviving the Nazi occupation by assuming a false identity, has deeply influenced his values and approach to life. His investment firm, Soros Fund Management, gained notoriety during the 1992 Black Wednesday crisis when he made a billion dollars short-selling the British pound, leading to significant financial repercussions for the UK government.

05:00

📰 The Myths and Impact of George Soros

Despite being a polarizing figure, George Soros's influence extends beyond his financial prowess. The numerous false stories and conspiracy theories surrounding him reflect his significance in contemporary politics and society. His philanthropic efforts, particularly those supporting refugees and advocating for open societies, have stirred controversy and debate. The narrative around Soros is complex, with his actions and intentions often scrutinized and misinterpreted. While some view him as a force for good, others see him as interfering in international affairs. Regardless of the myths, Soros's impact on global politics and his philanthropic endeavors continue to be a topic of discussion and contention.

Keywords

💡George Soros

George Soros is a Hungarian-American investor, billionaire, philanthropist, and author. He is known for his significant role in the financial market, particularly for 'breaking the Bank of England' during the 1992 Black Wednesday crisis. In the video, Soros is portrayed as a controversial figure with a significant global reach, influencing international affairs and donating to political campaigns, including those of Hillary Clinton and Barack Obama.

💡Speculator

A speculator is someone who invests in financial markets with the hope of making a profit from price changes, often involving high risk. In the context of the video, Soros is referred to as a 'speculator' due to his actions during the 1992 financial crisis where he profited from the devaluation of the British pound.

💡Brexit

Brexit refers to the United Kingdom's decision to leave the European Union. The video mentions Soros's stance on Brexit, describing it as a 'mentally damaging process' and highlighting his financial support for a pro-remain group advocating for a second referendum on EU membership.

💡Conspiracy Theory

A conspiracy theory is an explanation of an event or situation that invokes a secret plot by usually powerful people or entities. The video notes that Soros is often at the center of various conspiracy theories on Twitter, many of which are anti-Semitic, illustrating his controversial status in public discourse.

💡Mail Bombing Campaign

A mail bombing campaign refers to a series of attempted attacks through sending explosive devices via mail. Soros was the first target of such a campaign in 2018, aimed at opponents of President Trump, underscoring the level of animosity and danger directed towards him.

💡Open Society Foundations

The Open Society Foundations is a group of organizations founded by Soros that aim to build vibrant and tolerant democracies. The video mentions that the organization has donated $32 billion, indicating Soros's commitment to philanthropy and his vision for democratic societies.

💡Refugees

Refugees are individuals who have been forced to flee their country to escape war, persecution, or natural disaster. Soros's support for refugees in Europe has been a contentious issue, with his own Hungarian government showing hostility towards his efforts, as exemplified by the 'Stop Soros' legislation.

💡Hungarian Prime Minister Viktor Orban

Viktor Orban is the Prime Minister of Hungary and is portrayed in the video as one of Soros's fiercest critics. His response to the murder of a journalist and subsequent anti-government protests in Slovakia is used to illustrate the political tension and animosity between him and Soros.

💡Black Wednesday

Black Wednesday refers to the day in 1992 when the British government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism after Soros and other speculators bet against the currency. The video uses this event to highlight Soros's reputation as a ruthless financier.

💡Philanthropy

Philanthropy is the desire to promote the welfare of others, expressed especially by the generous donation of money to good causes. Soros's philanthropic efforts, particularly through the Open Society Foundations, are a key aspect of his public identity, as emphasized in the video.

💡Survival

Survival in the context of the video refers to Soros's experiences during World War II, where he and his family survived by assuming false identities to evade Nazi persecution. This experience is said to have influenced his approach to risk-taking and survival in the financial markets.

Highlights

George Soros amassed around a billion dollars by speculating.

He is known for 'breaking the Bank of England'.

Soros has donated about 800,000 pounds to pro-remain groups in Brexit.

He is a central figure in many conspiracy theories on Twitter.

Soros was falsely linked to the March for Lives movement and Central American migrants.

He was the first target in a mail bombing campaign aimed at President Trump's opponents.

Critics see Soros as interfering in international affairs.

Soros donated to Hillary Clinton and Barack Obama.

In the 1980s, Soros helped undermine Hungary's communist regime.

His charity, Open Society Foundations, has donated 32 billion dollars.

Soros' campaign supporting refugees in Europe has caused controversy.

Hungary's Prime Minister is one of Soros' fiercest critics.

Soros traces his values back to his childhood in 1930s Budapest.

He survived the Nazis by posing as a relative of a government official.

Soros fled Hungary's communist regime to England at age 17.

He set up Soros Fund Management in 1970.

Soros earned his reputation in the 1992 Black Wednesday crisis by short-selling the pound.

He claims his impact has been overstated and it was the market that broke the Bank of England.

Soros established the Open Society Foundation to improve democratic institutions.

The false stories about Soros prove his importance as much as the real ones.

Transcripts

george hareesh public and Lawrence

Olaf's the greatest speculator Saros

amassed around a billion dollars the man

who broke the Bank of England the name

George Soros crops up in the news a lot

he's called brexit in a mentally

damaging process and has given about

800,000 pounds to pro remain group best

for britain helping to launch their

campaign for a second referendum on EU

membership

he's pretty unpopular in certain corners

of Twitter where he's at the center of

just about every conspiracy theory many

of them anti-semitic

he was also falsely linked to the March

for lives movement following the

Parkland shooting in Florida as well as

to the Central American migrants our van

heading to Mexico and the US

the liberal businessman was the first

target in a mail bombing campaign aimed

at opponents of President Trump George

Soros his critics see him as interfering

in international affairs he donated to

both Hillary Clinton and Barack Obama

and in the 1980s he helped undermine

Hungary's communist regime right before

much of services global reaches to his

charity Open Society Foundations which

is donated 32 billion dollars - he says

he founded the charity to build vibrant

and tolerant democracies George Soros

his campaign of support for refugees in

Europe has caused quite a stir his own

Hungarian government put their hostility

towards him on display here organisation

of supporting illegal immigration must

now be registered the name the

government gave to this legislation

stopped Soros Hungary's Prime Minister's

one of Soros his fiercest critics when

the murder of a journalist in

neighboring Slovakia prompted

anti-government protests there this is

how Viktor Orban responding

so the audition was a loose end as a

technical Guyot get on okay the know a

crosswalk assuming I can pass the chin

chance Ketchum O'Farrell hozier G so

we're at it we could recommend and Mac

test McMillan or comet maker God knock

we just got a comic book shock George

Soros traces his values back to his

childhood born GOG Schwartz he grew up

in a Jewish family in 1930s Budapest I

learned the art of survival from a

grandmaster and that was my father that

has certainly left its mark on me his

parents changed their surname to Soros

to avoid persecution my father arranged

for us to take false identity Soros aged

just 14 survived by posing as a relative

of a government official and during this

time he witnessed the man confiscating

property from his fellow Jews Soros

survived the Nazis but when Hungary

became a communist state he fled the

regime to England age 17 it has

influenced me as a fund manager because

I took risk but I also learned how to

survive in 1970 he set up Soros Fund

Management but it was in the 1992 Black

Wednesday crisis that George Soros

earned his reputation as a ruthless

financier this came about when

speculators put pressure on the pound

causing it to crash

Saurus made about 1 billion dollars by

short-selling britain's currency the

government lost about 5.5 billion

dollars and the pound was forced out of

the European Exchange Rate Mechanism I

did it in order to make a profit sure

and to expect market participants to be

concerned about the social consequences

of their action it's putting the

emphasis in the wrong he says his impact

has been overstated my power is greatly

overestimated I really did not break the

Bank of England it was the market that

broke it

I was just leading the charge I set up

the open society foundation in order to

improve the democratic institutions

under which we live whether or not he's

seen as a force for good with the

visions and politics as deep as ever the

false stories following George Soros can

prove his important as the real ones