George Soros is multi-billionaire financial wiz. He retired from his Investment Agency at the age of 70 in the year 2000. He was also phenomenally successful as an investor. If you had invested $1,000 in his Quantum Fund when he started out in 1969, he would have turned your $1000 into $4 million by the year 2000.
Yet life was not always so easy for Soros. He was born in Budapest in 1930. He also Jewish. When the Nazis invaded his homeland during World War 2 his father had to bribe government officials for false identity papers so that George could pretend to be the godson of a gentile bureaucrat. Then the family had to spend a period of the war hiding in the attics and concealed stone cellars of almost a dozen homes.
After the war the teenage Soros moved to England and worked odd jobs. As a waiter at Quaglino’s, a posh restaurant in London, he found himself scavenging the leftover profiteroles. Eventually Soros enrolled in the London School of Economics, and the rest is history.
Partly because of his background Soros is not only a capitalist, he’s also a philanthropist. He has injected almost $3 billion into foundations designed to promote open and free societies throughout the world. He plans to give away the rest of his fortune – another $5 billion – by the time he turns 80.
In recent years Soros has turned his attention to the sorts of societies being created by our international economy. And he is concerned by what he sees. Unlike others who have had a rags to riches story Soros does not believe anyone can do it. Indeed, he is worried at the way financial success has become the dominant value of our age and the skewed social outcomes this is delivering. “Markets reduce everything, including human beings (labor) and nature (land), to commodities” he says. “We can have a market economy but we cannot have a market society.”
Source: Biographical information found at Soros Foundation website. Quotation on markets taken from George Soros, “Toward a Global Open Society”, The Atlantic Monthly; January 1998. Volume 281, No. 1; pages 20 – 32.