George Soros Net Worth

Gyorgy Schwartz Net Worth

Real Name: Gyorgy Schwartz
Date of Birth: 8/12/1930
Place of Birth: Budapest, Hungary

2019 Net Worth: $26.5 Billion
2018 Earnings: $1.2 Billion

Profession: Chairman of Soros Fund Management

George Soros Biography

George Soros was born in Budapest, Hungary to a non-observant Jewish family. His father, Tivadar, was a lawyer who had been a prisoner of war during World War I. George was just 13 when the Nazi’s invaded Hungary in 1944. Although the Nazi’s gave him a job, his father told him it was a ploy to round up Jewish lawyers so he went into hiding instead. George somehow managed to survive the Battle of Budapest.

George immigrated to England in 1947 and was a student at the London School of Economics. He worked his way through school taking jobs such as waiting tables and railway porter. He tried selling souvenirs but thought he could do better. George wrote to every director at every merchant bank in London until he finally got an entry level position at Singer and Friedlander.

George moved to New York City in 1956 and worked as an analyst. It was during this time that he developed the theory of reflexivity, based on basic ideas from Karl Popper that would earn him tremendous earnings in future investments.  In 1967; First Eagle Funds was the opportunity George needed to assert himself as an investor. In 1970, George founded Soros Fund Management and became its chairman. Due to regulatory restrictions, George resigned from First Eagle Funds and established Quantum Fund in 1973.

In 1992, during a financial crisis in the UK known as Black Wednesday, Soros’ fund sold short more than 10 billion pounds. When the UK withdrew from the European Exchange Rate, it devalued the pound. Soros’s profit on this venture was estimated to be more than $1billion US dollars.

In 2010, George acquired a 4 percent stake in the Bombay Stock Exchange for $35 million. In 2013, Quantum fund made $5.5 billion, the most successful hedge fund in history. Since 1973 this fund has made more than $40 billion dollars.

George Soros is listed as the 17th richest man in the US in the Forbes 400 with a current net worth of $26.5 billion.

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: