Who is George Soros, the man at the centre of political debate in India?

The Bharatiya Janata Party has accused Congress president Sonia Gandhi of links to an organisation funded by the George Soros Foundation, which supports the idea of Kashmir as an independent nation

Parliamentary Affairs Minister Kiren Rijiju on Monday called on all political parties, including the Congress, to stand united against forces acting against India and to speak out if they observe their leaders undermining national interests.

 

His statement followed allegations by the Bharatiya Janata Party (BJP) that former Congress president Sonia Gandhi is associated with an organisation funded by the George Soros Foundation, which has supported the idea of Kashmir as an independent nation.

 

According to the BJP, Sonia Gandhi, in her role as co-president of the Forum of the Democratic Leaders in Asia Pacific (FDL-AP) Foundation, has ties to the organisation backed by the George Soros Foundation.

 

 

“Notably, the FDL-AP Foundation has expressed their views that treat Kashmir as a separate entity,” the BJP said.

Allegations by BJP

The BJP has claimed that George Soros is connected to the Forum of Democratic Leaders in Asia Pacific (FDL-AP) Foundation, which they allege advocates for Kashmir’s secession from India. The party said that Sonia Gandhi’s role as co-president of this foundation indicates a collaboration aimed at undermining India’s growth. Additionally, BJP officials have accused Rahul Gandhi of leveraging Soros-funded organisations to criticise the Indian government, particularly concerning economic issues related to the Adani Group.

Who is George Soros?

Born in 1930, George Soros is a prominent Hungarian-American investor, philanthropist, and political activist in Budapest, Hungary. He survived the Nazi occupation during World War II and later emigrated to the US in 1956. Soros is best known for founding Soros Fund Management and for his significant philanthropic efforts through the Open Society Foundations, which he established to promote democracy and human rights globally.

Early life and education

Soros left Hungary in 1947, moving to London where he worked various jobs, including as a railway porter and nightclub waiter, to support his education at the London School of Economics (LSE). At LSE, he was influenced by the philosophy of Karl Popper, particularly the concept of ‘open society’, which would later shape his philanthropic endeavours. Soros graduated with a Bachelor of Science in Philosophy in 1951 and a Master of Science in 19542

Career in finance

In 1956, Soros emigrated to the United States and began his career in finance as an analyst for several merchant banks. In 1970, he founded Soros Fund Management, which became one of the most successful hedge funds in history. His investment strategies included innovative approaches like the theory of reflexivity, which states that market prices are influenced by the perceptions and actions of investors rather than just economic fundamentals.

 

Soros gained reputation for his bold currency speculation; most famously, he made a profit of approximately $1 billion during the 1992 Black Wednesday crisis by short-selling the British pound. This event earned him the moniker ‘the man who broke the Bank of England’.

Philanthropic endeavours

Beyond finance, Soros is recognised as one of the world’s leading philanthropists. He has donated over $32 billion to various causes through the Open Society Foundations (OSF), which he established in 1979. The OSF aims to promote democracy, human rights, and social justice globally. His philanthropic efforts began with scholarships for black South Africans under apartheid and expanded to support democratic movements in Eastern Europe.

 

Soros’s foundations have funded numerous initiatives “aimed at fostering open societies”, including educational programmes like the Central European University in Budapest. His commitment to social causes has also led him to advocate for drug policy reform and LGBTQ+ rights in the US.

Political influence

Soros has been a significant supporter of progressive political causes and candidates in the US, backing figures such as Barack Obama and Hillary Clinton. His financial contributions have, in the past, placed him at the centre of political debates, with critics accusing him of trying to influence political issues through his donations

Soros and the US

In the US, Soros is often mentioned by Democrats as a major benefactor of progressive causes and candidates. His financial contributions have been key in supporting various Democratic initiatives and campaigns, particularly during elections. Additionally, he has become a focal point for criticism from Republicans, especially supporters of Donald Trump. They frequently accuse him of attempting to influence US politics through his funding of liberal organisations and initiatives.

 

Son Alex takes over George Soros’s empire 

George Soros has transferred control of his $25 billion financial and charitable organisation to his son, Alex Soros, stating that Alex had ‘earned it’.

 

Alex, 37, who holds a history degree from New York University and a PhD from the University of California, Berkeley, is the second-youngest of George Soros’s five children, the BBC reported.

 

He is the sole family representative on the investment committee of Soros Fund Management, which oversees the $25 billion portfolio for the family and their foundation, according to The Wall Street Journal.  

 

Since December 2022, Alex has served as chairman of the Open Society Foundations (OSF) and also manages his father’s ‘super PAC’, which channels funds to political parties.  

 

In an interview with the WSJ, George, whose net worth stands at $6.7 billion, reaffirmed his confidence in his son’s leadership. Alex described himself as ‘more political’ than his father and had earlier pledged to oppose Donald Trump's bid for a second term as US President, the BBC had reported.