Billionaire George Soros Earmarks $500 Million To Fund New Startups By Refugees

There doesn’t seem to be an end to the philanthropic work of Hungarian-born hedge-fund investor, George Soros. Soros fled Hungary in 1947, to avoid capture by the Nazi. He went to London, became a waiter, and enrolled in the London School of Economics. He graduated with a degree in philosophy. He decided to move to the United States in the 1950s, and he landed his first job on Wall Street. Fast-forward more than 60 years, and Soros is now the 32nd richest person on the planet. And this refugee has decided to help other refugees start businesses. According to a CNN article, George Soros is investing $500 million in companies that are started by refugees and migrants, and he is also investing in businesses that focus on the needs of migrants.

Soros established his Open Society Foundation in 1976, and that organization is now in more than 100 countries. The aim of the Open Society Foundation is to promote democracy and freedom in oppressed countries. The investments made by Soros will be owned by the Soros nonprofit organizations. The main objective is to create products and services that are needed by refugees. More than 1.3 million refugees applied for asylum in Europe in 2015, and more than 65 million people worldwide were forced to leave their homes in 2015. George Soros said the amount of refugees arriving in Europe has created political and social unrest in the European Union, and he is trying to put a positive spin on the crisis.

George Soros believes the refugees need ways to communicate. Cell phones and the Internet are as crucial as shelter and water for refugees. The money that Soros is providing will help start businesses that focus on information technology as well as other businesses.

The migration issue has been the topic of debate in the European Union for the last two years. Soros has tried to offer solutions in the past, but they were ignored by the leaders of the EU on nybooks.com. He felt the need to put his money to use while EU members bicker over the number of refugees they will allow into member countries. Some EU members have closed their borders to refugees, and that is a violation of the rules of the EU. But at this point, the fear of terrorism and the inability to blend the migrants into the tight social structures of some countries has taken precedence.

The 86-year-old Soros is leading by example once again. He has dedicated his life to helping people live a free life wherever they choose, and this new influx of money will help some people do that. But more has to be done to solve the migration crisis, and it has to be done soon, according to Mr. Soros.

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