George Soros (/ˈsɔːroʊs/ or /ˈsɔːrɒs/; Hungarian: Soros György, pronounced [ˈʃoroʃ ˈɟørɟ]; born August 12, 1930) is a Hungarian-American[a] investor, business magnate, and philanthropist. Soros is considered by some to be one of the most successful investors in the world. As of February 2017, Soros has a net worth of $25.2 billion making him one of the 30 richest people in the world.
Born in Budapest, he escaped Nazi Germany-occupied Hungary and emigrated to England in 1947. He attended the London School of Economics graduating with a bachelor’s and eventually a master’s in philosophy. He began his business career by taking various jobs at merchant banks before starting his first hedge fund, Double Eagle, in 1969. Profits from his first fund furnished the seed money to start Soros Fund Management, his second hedge fund, in 1970. Double Eagle was renamed the Quantum Fund and was the principal firm Soros advised. At its founding, the Quantum Fund had $12 million in assets under management, and as of 2011 it had $25 billion, the majority of his overall net worth. He is known as “The Man Who Broke the Bank of England” because of his short sale of US$10 billion worth of Pound sterling, making him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis.
His early studies of philosophy led him to develop and apply Karl Popper’s General Theory of Reflexivity to capital markets, which he claims renders him a clear picture of asset bubbles, fundamental/market value of securities, as well as value discrepancies used for shorting and swapping stocks.
He is a well-known supporter of American progressive and American liberal political causes and dispenses his donations through his foundation, the Open Society Foundations. Between 1979 and 2011 Soros donated more than $11 billion to various philanthropic causes. He played a significant role in the peaceful transition from communism to capitalism in Eastern Europe in the late 1980s and early 1990s, and provided one of Europe’s largest higher education endowments to the Central European University in his hometown.
George Ty net worth: George Ty is a Chinese-Filipino banking tycoon who has a net worth of $2.6 billion. George Ty is the founder of Metropolitan Bank and Trust Company aka Metrobank, currently the second largest bank in terms of Assets and Capital in the Philippines. George Ty is one of the richest people in the country. He is also accumulating more and more wealth from his interests in Federal Land, Inc., the Bank of the Philippine Islands and Philippine Savings Bank, a Metrobank subsidiary, as well as his shares in Philippine AXA Life Insurance and Global Business Power Corporation. What’s more, Ty reportedly plans to invest almost $1 billion this year in power and property projects. This self-starter who founded a bank in his twenties, eventually stepped down as chairman in 2006 in favor of his son Arthur. Married with five children, he spends his leisure time swimming and collecting art.
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