Introduction – George Soros Bio
George Soros quotes:
George Soros was born in the year 1930, August 12, in Budapest, Hungary. Who is George Soros? Soros is an American-Hungarian author, political activist, philanthropist, business magnate, and investor. He is among the most successful investors in the world. He had a $7.6 billion network as of 2017 February after donating $17 billion to the Open Society Foundations, his philanthropic agency. George Soros Net worth was $25.2 billion as of Mar 22, 2017. In 2018., George Soros’s net worth is 8 billion USD.
George Soros became popular in the year 1992, during the time that he made $10 billion from one bet that was against the British pound (George Soros crashing the pound). The currency speculation gave the investor profits that added up to $1 billion in the first day and more than $2 billion afterward. He even was given the “the man that broke the Bank of England” nickname.
Father: Tivadar Schwartz
Mother: Erzebet Szucs
Ex-spouse: Annaliese Witschak and Susan Weber
George Soros children are: Alexander, Andrea, Gregory, Jonathan, Robert
George Soros is married to Tamiko Bolton, who’s 42 years younger than him from 2018.
Where is George Soros? – He lives in New York, Katonah, USA
Education and Career
He attended the School of Economics in London, where he earned a bachelor of science in philosophy and a Master of Science in philosophy in the years 1951 and 1954, respectively (“George Soros,” 2018). Soros could not find any jobs after he graduated. Therefore he decided to settle for employment as a traveling salesman for wholesalers f of fancy gods sold to retailers in the resort’s seaside. The individual described this moment as one of the lowest in his life. He wrote interview letters to many banks that ignored him and humiliated him in the interview process (Soros, 2010). He worked as a clear at Singer and Friedlander, a bank in London. He was also employed as an arbitrage trader in the years 1956 to 1969 at F.M Mayer. Here he was specializing in European stocks that were popular with the United States investors because of the steel community’s formation that later transformed to the common market. Thereafter, he worked in an investment bank in the place. He later left for the US in the year 1956, where he was employed as an investment manager and an analyst for various firms.
Soros’s Philosophy of Investment – How did George Soros get his wealth
George Soros had an ability to synchronize world economic trends with the leveraged and highly detailed strategy in currencies and bonds. He operated as a speculator shortly and was able to make bets on the trends of financial markets. He believed that the financial markets tended to depend on the amateur and professional traders and the people who purchase or sell assets on the market. Soros aimed at capitalizing on the emotional or human capacity of the influencers of the market to transform others’ investment decisions and opinions. The man was always looking for a way to stand out or be unique from the crowd as he followed investment trends. This was one of the greatest paydays. He trusted his reaction regarding busing and selling, and this made his strategy hard to emulate.
How did George Soros make his money?
He left work in 1973 to look for his personal hedge fund, the Soros Management Fund. The fund turned to the Quantum Fund, and eventually, Soros was able to develop the company into a highly successful and aggressive hedge fund, which made annual returns of 30% annually. There are two occasions when the fund posted profits that exceeded 100%. In the early 1990s, Soros was declared among the richest individuals on earth.
Market and Major Trades
Soros was contacted by Georges Pebereau, a financier in France in 1988 that wanted him to assembling a team of investors to buy a big number of shares in a French bank, which was part of a program of privatization. However, Soros decided not to participate in the effort and opted to move forward personally with the strategy of putting shares in four companies in France, which included Paribas, Suez, and Societe Generale. In the year 1989, a French regulatory authority of the stock exchange performed an investigation to know if Soros’ transaction in Societe Generale was inside trading. Soros got no information from the company and had no information on the business insider, but he knew that a group of investors was planning a takeover. The first investigation proved that Soros was innocent, and there were no charges against him. The case was later reopened after a few years, and he was convicted in the year 2006 by the French Supreme court. Soros, however, declined the charges and said that the takeover news was public knowledge. The document said that the individual’s intent to have the company shares showed that he was aware of the takeover.
George Soros Versus the British Pound – How Did George Soros Get Rich in one day?
Soros is remembered by the “the man that broke the Bank of England” nickname. He is also a known speculator of currency and does not limit his efforts to a specific area geographically but considers the whole world when looking for opportunities. The man borrowed billions of dollars in 192, which were worth the British pound, then changed them to German Marks. When the pound crashed, George Soros had to repay his lenders based on the lower new pound value. He pocketed an excess of around $1 billion that is the difference between the pound value and the mark value in a one-day trading
George Soros made the same move with the Asian currency during the Asian Financial Crisis of the year 1997. He took part in a frenzy, which led to the collapse of the Thailand currency. The trades became so effective since those national currencies that speculators bet against mostly got pegged to other currencies. This means that there were agreements to prop up those currencies to ensure that they could trade in a particular ratio against that currency which they got pegged.
As the speculators placed bets, the issuers of currency got forced to try and maintain the ratio by purchasing their currency on the open market. The government later ran out of money and was pushed to abandon the effort, which made the value of the currency plummet. The governments feared that George Soros would start having an interest in their currency. When he did, the other speculators could ion in the fray; this was described as a group of wolves on a group of elk (“George Soros,” 2018). The big amounts of money that those speculators borrowed and leveraged made it hard for the governments to handle the assault or withstand it.
Despite the success of George Soros, it is not every Bet that he placed worked in his favor. For instance, in the year 1988, he predicted that the United States markets would rise continuously. As a result, his fund lost $300 million in the crash process even though there were lower double digits delivered returns that year. In 1999, Soros also took a $2 billion hit in the Russian debt crisis and lost $750 million during a technology bubble where he placed a decline bet (“Investopedia, n.d.”). He was stung by this loss and, as a result, bought anticipation big in of a rise and lost about $2.9 million when the market crashed finally.
Soros’s family office has trimmed the stake in the Broadband Corp. during the first quarter, the management fund holdings of Broadband Corp reduced by seventy-four thousand shares to around 8000 million. The filing also shows the disclosed Soros’s stake of around 22 million in Vice Properties Inc., which the second-biggest holding of the firm. George Soros also increased the stake by 330 00 in Aetna and made Baxter International holdings by around 340,000 shares.
According to the recent news, the billionaire is weighing moves into cryptocurrencies. A member of the office family got internal permission to trade on cryptocurrencies, which is an asset that several money managers avoid because of the sector’s track record, which is limited and lacks volatility and regulation. The Soros Management Fund head of macro investing, Adam Fisher, got the approval but has not made any bets yet on cryptocurrencies. The green light of the fund for cryptocurrencies came after the Bitcoin price that has served as a signal to several other cryptocurrencies. Recently, regulators have begun paying special attention to cryptocurrencies, which has scared investors (“George Soros,” 2018). The interest in bitcoin is beginning to wan with the amounts of searches falling slowly since the start of this year.
If you are interested in what stocks George Soros owns, you can see his portfolio.
Where does George Soros live now?
George Soros is the Founder/Co-Founder of Quantum Fund. He lives in a large estate located in the Bedford Hills suburb of New York, Katonah, USA.
One of the famous youtube videos is George Soros 60 minutes interview.
George Soros interview :
Trading like Soros is not for those with a light wallet or the faint-hearted. The drawbacks of winning big and betting big are that betting big means losing big. If one cannot afford the loss, then definitely they can’t afford to resemble George Soros. While the macro hedge traders are the quiet types and avoid the spotlight as they earn a fortune, George Soros is taking. He has been taking public stances on several political and economic issues. His success as a speculator and public stance has put Soros in a unique personal class. During a period of more than four decades, he made the correct moves almost every time. He generated many fans among investors and traders and detractors among the ones on the other end of losing for his speculative activities.
QUESTIONS AND ANSWERS from comments:
- How old is George Soros?
He was born in 1930. George Soros is 88 years old.
2. Who is George Soros’s spouse?
Tamiko Bolton is George Soros’ third wife.
3. What is the official George Soros Twitter account?
George Soros Twitter account is: https://twitter.com/georgesoros
3. What religion is George Soros?
As we can see in the interview, George Soros is an atheist. He doesn’t Believe In God.
4. Did George Soros Say His Life’s Mission Is to Destroy the United States?
No. George Soros didn’t say this. Claim (from Newsweek 1979 fake news article about George Soros) “I’ve made my life’s mission to destroy the United States. I hate this country, and I hate all of the people in it.” is false news. David Emery is an excellent San Francisco-based writer, and he wrote several articles about fake news related to Soros.
5. Is George Soros ‘Grooming’ a Pro-Muslim Brotherhood Gubernatorial Candidate in Michigan?
Another fake news about Abdul el-Sayed George Soros’s relationship.
6. Is Chelsea Clinton Married to George Soros’ Nephew Marc Mezvinsky?
Another fake news. Based on Snopes.com, Baio didn’t provide any evidence that Marc Mezvinsky, Chelsea Clinton’s husband, was related in any way to George Soros.
7. Are 16 States Using Voting Machines from a ‘Soros-Controlled Company’?
George Soros voting machines were another fake news in media last several years. George Soros has no hand in the management or ownership of Smartmatic.
8. Is adam Schiff’s sister married to George Soros’s son?
No, George Soros’s son isn’t married to Adam Schiff’s sister.
9. Was George Soros part of the SS?
No, this is not true! George Soros was not a German soldier.