27 Aug George Soros: Trump targets George Soros in federal racketeering case: How the billionaire made his massive fortune
“George Soros, and his wonderful Radical Left son, should be charged with RICO because of their support of Violent Protests, and much more, all throughout the United States of America,” Trump wrote on Truth Social on Wednesday morning.
“We’re not going to allow these lunatics to rip apart America any more, never giving it so much as a chance to “BREATHE,” and be FREE. Soros, and his group of psychopaths, have caused great damage to our Country! That includes his Crazy, West Coast friends. Be careful, we’re watching you! Thank you for your attention to this matter!,” the president wrote.
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Who is George Soros and what is his net worth?
An Hungarian-American investor and philanthropist, George Soros is one of the most successful investors in history. He is also the founder of Open Society Foundations, an American grantmaking network.
Soros was born in Budapest, Hungary in 1930 and grew up during World War II and the Nazi occupation of Hungary. He moved in 1947 to England, where he studied at the London School of Economics.
George Soros then started his career in the financial industry. He worked as a trader and analyst at several London-based firms, where he honed his skills in the field and gained valuable experience in the financial industry. Later on, in 1956, Soros moved to the US, as per Investing.com.
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In his early years in the United States, Soros worked in several roles, including as a portfolio manager and analyst at various firms. During this period, he honed his investment philosophy, eventually founding Soros Fund Management—a move that marked the start of his ascent as a prominent and innovative investor.
His Soros Fund Management currently manages $28 billion in assets, and Soros himself has an estimated net worth of $7.2 billion after donating more than $32 billion to philanthropic causes, according to US News. Soros formerly managed the Quantum Fund, which generated an average annual return of 30% over a 30-year period from 1970 to 2000. Perhaps most famously, Soros also made a $1 billion profit in a single day in 1992 by short selling the British pound.
How has George Soros made his money?
George Soros first built his fortune as an investor and hedge fund manager, founding Soros Fund Management in the 1970s. He quickly gained a reputation for his innovative strategies and market intuition, becoming one of the most influential figures in global finance. As a macro investor, Soros focuses on markets and assets through the lens of broader economic forces, spotting trends and shifts before most others do.
At the core of Soros’s success is his investment philosophy of “reflexivity.” This concept suggests that market participants don’t just respond to markets—they actively shape them, creating feedback loops that can push prices away from their fundamental values. Throughout his career, Soros has consistently identified market mispricings and capitalized on them, often taking bold, contrarian risks when others hesitated.
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Some of his most notable achievements include early investments in emerging markets and high-profile bets against global currencies, such as the Thai baht and Japanese yen, which cemented his reputation as a shrewd, daring investor.
Yet Soros’s path has not been without challenges. Periods of underperformance, such as during the dot-com boom and bust, demonstrated reflexivity in action—he profited during the market surge but faced losses when the bubble burst. Even the best investors encounter setbacks, and Soros’s ability to learn, adapt, and recover has solidified his legacy as one of history’s most successful and influential investors.
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‘The Man who broke the Bank of England’
George Soros earned his legendary nickname after his infamous 1992 bet against the British pound. At the time, the British government was struggling to keep the pound’s value within a tight range against the German Deutsche Mark. Observing that the UK economy was faltering and that government policies were unlikely to succeed, Soros predicted that the pound would have to be devalued.
Acting on this insight, Soros and his firm, Soros Fund Management, executed a massive trade: they borrowed pounds and sold them on the market. When the pound was eventually devalued, Soros repurchased the currency at a much lower price, raking in a staggering profit. This single trade earned him over $1 billion and cemented his reputation as one of the most astute and successful currency traders in history.