Soros transfers $18 billion – 80% of his wealth – to Open Society Foundations

Soros transfers $18 billion – 80% of his wealth – to Open Society Foundations
George Soros (Image via romaissues.wordpress.com)

[Ed. – Something more important going on here than just funding activism.  My bet is that Soros is about to mount a financial attack, and is both writing off that $18 billion and putting it where it’s protected from the fallout.  Hard to say what he’s planning.  He’s been shorting the U.S. stock market all year, obviously expecting to clean up from that at some point.  But making this gigantic wealth transfer suggests to me that he expects to be identified as having done something vicious, when it’s all over.  He’s going for broke in some way.  He doesn’t seem to be unusually leveraged in anyone’s currency right now; so, again, hard to say.]

Left-wing billionaire George Soros has transferred $18 billion to his Open Society Foundations, the primary vehicle for his global political activism and philanthropy.

The transfer, according to the Wall Street Journal, accounts for most of Soros’s foundation, which he accrued through a controversial career as an investor. The Journal notes: “Open Society has vaulted to the top ranks of philanthropic organizations, appearing to become the second largest in the U.S. by assets after the Bill and Melinda Gates Foundation, based on 2014 figures from the National Philanthropic Trust.”

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