George Soros Makes a Considerable Financial Pledge to Support Refugees and Migrants

George Soros is one of the top billionaires in the world who has displayed a considerable level of benevolent spirit. Just recently, the popular billionaire and philanthropist showed his support to migrants and refugees by pledging a sum of $500 million to migrants or refugees’ formed startups. The pledge also targets programs, companies and businesses that are aimed at catering to the needs of refugees and migrants.

Soros cited that he would work closely with international organizations and bodies that support refugees in a bid to come up with better ways of investing the pledged funds on opensocietyfoundations.org.

Nevertheless, Soros hinted that businesses in the technology sector would be part of the beneficiaries. Through this initiative, Soros hopes to trigger the development of services and goods that will benefit both migrant and host groups or communities as well as inspiring other investors to pursue a similar course.

Digital technology is intended to be a key beneficiary due to the results on studies conducted by the UN High Commissioner for Refugees and Accenture. The results detailed that internet access and mobile phones are as equally important as other basic needs of refuges when it came to matters of security and safety. Through technology, the refugees can easily access health, financial as well legal services. Further, Soros indicated in the Wall Street Journal that his primary concern was helping refuges and migrants to arrive safely in Europe. However, he intends to identify lucrative investment ideas to benefit the migrants.

Who is George Soros

George Soros is a popular billionaire as well as an avid financial and investment expert who is never afraid of airing out his views and opinions on political as well as economic matters. Apart from his accomplished business track record, Soros is preceded by his reputation as a philanthropic individual. As such, Soros has generously donated a significant amount of his wealth to humanitarian initiatives and courses through his Open Society Foundation. The Open Foundation serves as a network of projects, partners and foundations that operates in over a hundred nations globally. Soros strives to advocate for the open society concept whereby the government is accountable for its actions, rights are respected and no individual holds the monopoly on the truth.

Although Soros currently enjoys a massive amount of wealth, he is a Hungarian native who fled his country due to the Nazi invasion. He obtained his knowledge from the London School of Economics in England before shifting to the United States. Before venturing into his business ventures in the United States, he served as a stock analyst and trader in New York. Over the years, Soros has supported numerous organizations including the International Crisis Group, the Institute for New Economic Thinking, Global Witness and the European Council on Foreign Relations. Source: http://www.nytimes.com/topic/person/george-soros