There is absolutely no doubt about the fact that George Soros has been a successful businessman and investor. Since the time that he set up his hedge fund firm in the late 1960’s, the firm has gained more than 20 percent each each until the year 2012. According to the Bloomberg Business Index, his wealth nets over $27 billion. Besides the fact that he has been successful, many individuals admire George Soros as an individual who is an investing genius. For example, in the year 1992, he bet that the United Kingdom would be forced to devalue the pound. They were forced to do this, and George Soros ended up netting $1 billion.
Many people admire George Soros because he has used his money and his financial freedom to help others. He once wrote that that the success that he has in financial markets has given him more independence than other people. This independence allows him to take a stand on controversial issues. Not only does it allow him to do this, but he acknowledges that it obliges him to do so. For this reason, he has done much philanthropic work.
One of the things that George Soros is most well known for is founding the organization Open Society Foundations. He serves as the chairman. This foundation aims to promote the idea of open society, which is based on the principle that all humans have established rights that should be respected, the government should be held accountable for their actions, and no single individual or organization can monopolize the truth. This organization has done much good for people and is unlike any other effort that has been made in history.
George Soros is interested in educating others. For this reason, he spoke at an economic forum in Colombo in early 2016. While there, he predicted that the current global market is headed for disaster. He says that it is facing a crisis that echoes that which took place in 2008. One of the primary reasons he feels this way is because of what has taken place in China in just the first couple of weeks of 2016. Because the yuan is sinking in value, about $2.5 trillion was wiped out from the value of global equities.
China is the world’s second-largest economy. When it faces a crisis, other countries face crisis as well. George Soros points to the fact that China has been shifting away from investing and manufacturing and moving toward consumption and services. This is negatively affecting their economy. Steps are being taken by the Chinese government, banks, and other organizations to improve the situation. However, George Soros warns investors to exercise caution this year because he feels like it will end up like 2008.