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Business magnate George Soros transferred $18 billion of his own money to his own charity organization Tuesday.
(Reuters)
Uber-liberal billionaire George Soros infused “the bulk of his wealth” — $18 billion — into his charity arm Tuesday, making the philanthropic organization second only to Bill and Melinda Gates’ Foundation in U.S. assets and further extending and strengthening the reach of Soros’ tentacles worldwide.
Soros is expected to transfer another $2 billion to his foundation in the years ahead, The New York Times reported.
The transfer of funds makes Soros’ organization, the Open Society Foundations, one of the largest philanthropic nonprofits in the world, the Wall Street Journal reported. The funds amounted to more than three-quarters of Soros’ fortune. His net worth is $23 billion, according to Forbes.
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