George Soros is an influential Hungarian-American business billionaire who made his riches in many different fashions, including being an investor, being a philanthropist, and author. He is in his mid-eighties and has a tremendous amount of experience when it comes to politics and investments. Soros holds duel citizenship in Hungary and America. He is also the chair member of the Soros Fund Management. Soros is very involved in politics, and a lot of his involvement is invested in American progressive and American liberal political causes.
One of the main issues concerning George Soros right now is in the United Kingdom. Right now the United Kingdom is facing a continuous issue regarding the European Union, and whether or not they want to remain part of it. The big vote is actually this Thursday and everyone from politicians to athletes like David Beckham are getting themselves involved in this decision.
George Soros – Forbes
The Greatest Investors: George Soros
Soros believes that if the United Kingdom votes to leave the twenty-eight-nation European Union it would severely damage the living standards in the United Kingdom. It would also trigger a plunge in the British pound – more so than on Black Wednesday which was one of the United Kingdom’s worst deficits over twenty years ago.
Although George Soros‘ is technically retired from the political spectrum he still believes there are a few ways that the Bank of England can use monetary policy to fix these declines. Some of which include real estate, stocks, and employment but these are just options if the United Kingdom ends up voting to leave the European Union. If they vote to stay in the European Union, the United Kingdom would not have to make budget cuts and cut back on people’s employment and stocks.
Soros’ has not hidden his opinion about the upcoming vote about staying involved in the European Union, and many others have not either. Soros is hoping this Friday will not be considered Black Friday if the vote to leave the European Union is accepted.
Learn more about George Soros:
Recently, in an economic forum in Colombo, Sri Lanka, George Soros said that the current crisis in the global markets mirrored the 2008 crisis. He also added that the rest of the world was hurting from China’s devaluation of its currency. Soros cautioned investors to be wary of the global markets that are facing challenges. According to him, China is still struggling to establish a new growth model.
The sinking Yuan did not help the current concerns on the strength of the Chinese economy. The economy is shifting to consumption and services from its forte in manufacturing and investments. The global currency, stock markets as well as commodity markets had a dismal performance in the first week of the year. Close to $2.5 trillion was eroded from the value of global equities as losses extended in Asia with Chinese equities plunging further. According to Soros, China is facing a crisis that is arising from its adjustment problems.
Weaknesses remain in the second leading economy of the world despite of the authorities flooding the economy with billions of dollars. The People’s Bank of China has slashed interest rates but it has not achieved much from this monetary policy. However, China’s Communist Party has promised to raise the convertibility of the Yuan and continuously remove capital controls by 2020. The move comes as the major measures of volatility across the world surged.
From 1969 to 2011, George Soros’ hedge fund gained a yearly average of 20%. Bloomberg Billionaires Index estimates Soros’ net worth to be $27.3 billion. Soros established his investment career in the 50s in New York City. Over the years, he has earned a reputation due to his investment exploits. This information was reported on Bloomberg as explained in the link below http://www.bloomberg.com/news/articles/2016-01-07/global-markets-at-the-beginning-of-a-crisis-george-soros-says
Soros’ two foundations; Open Society Institute and Open Society Foundation, were banned in Russia after the authorities claimed that the two were a threat to Russian security and the constitution. In a statement, the Office of Russia’s General Prosecutor said the two branches of Soros’ foundation would be put on a stop list. The list comprises of foreign non-governmental organizations whose initiatives are viewed as undesirable by Russia. The two organizations that were founded by billionaire Soros are pro-democracy charities. This information was mentioned on CNBC as highlighted in the following link http://www.cnbc.com/2015/11/30/russia-bans-george-soros-charity-as-security-threat.html
Soros established the Open Society Foundation in 1979 after his success in the investment world. According to him, the foundation is based on the realization that the world is naturally imperfect and improvement has to be made on what is imperfect. Open Society foundation aims to change authoritarian forms of government to open societies. Soros began his philanthropic activities by providing scholarships to black students in South Africa with the view of helping them pursue education at the University of Cape Town. This information was reported on georgesoros.com as elucidated in the link below http://www.georgesoros.com/philanthropy/