George Soros was born in 1930 in Budapest, Hungary. Soros was born to a Jewish family who had to hide their identity because Hungary was under Nazi occupation. This went on until the end of World War II. Then the communists took over. Soros finally escaped this oppression in 1947 when he fled to London. Soros worked as both a waiter and a railroad porter in order go to the London School of Economics. After graduating, Soros got an entry level position with a London investment bank. In 1956, Soros immigrated to the United States. For nearly two decades he worked as an investment manager and analyst for firms in New York such as F.M. Mayer, Arnhold and S. Bleichroeder and Wertheim and Company.
In 1973, George Soros decided it was time to start his on hedge fund, Soros Fund Management, which is now known as Quantum Fund. Soros had such success that he has now become a legend. He was able to get returns of between 30 percent and 100 percent, unheard of in the industry. He made 2 billion dollars when he shorted the British Pound and 10 billion dollars when he shorted the Asian currencies. His net worth is 25 billion dollars.
Project Syndicate recently published an article by Forbes’ Soros that explained some of his concerns. In the article, Soros warned the European Union and the United States to be wary of President Putin’s claims that he is an ally in the fight against ISIS. Soros explains that Putin’s history of aggression should be proof enough that he is only looking out for his own interests, which are to bring down the European Union before Russia crumbles.
As it is, Soros explains, the EU is slowly disintegrating. The Greek financial rescue packages have not solved the economic crisis in the country, forcing the EU to face crisis after crisis. These crises are all coming to a head at the same time. The Chancellor of Germany, Angela Merkel, understands that all of this, and especially the refugee crisis, has the potential to put an end to the European Union.
Soros believes that the leaders in the west need to acknowledge what is happening and not ignore it. In the long term, ensuring that the European Union is stable would be the best goal. It would be a mistake to make the ultimate goal beating terrorists. If the European Union survives, the tenants of the EU survives, including freedom, human rights for all, open societies and transparent governments. This in itself has the potential to conquer terrorism and the extremists. On the other hand, if the European Union falls, that would only serve as another victory for terrorists.