Hungarian-born investor and social activist George Soros has pledged to invest up to $500 million dollars into programs and companies designed to benefit the refugees who are fleeing the war-torn middle east. This tragic situation is quickly turning into a worldwide human disaster as the United Nations is reporting that most of the refugees are coming from just three countries, Syria, Afghanistan, and Somalia. They have also estimated that the number of refugees is over 60 million men, women, and children with about half of that number being children.
On Monday, September the 10th 2016, the United Nations opened its first summit aimed at addressing the current refugee and migrant crisis. The U.N.’s involvement on Biography has also sparked debates about how to best handle the displacement of the millions of people in not only countries like Germany but also in the United States. The whole question of immigration policy has even become a central issue in the current U.S. presidential election cycle. In fact, when President Barrack Obama made his final speech to the United Nations September the 20th he made several very strong recommendations about what he thought should be done to help alleviate the current crisis.
What Mr. Soros would like to happen is that other investors will be inspired by his actions and join in with him to help deal with the crisis. Mr. Soros intends to use his nonprofit, private organization, The Open Society Foundation, as the vehicle to get the ball rolling. He plans for the Open Society Foundation to invest in startup companies, established companies, and social impact companies and initiatives started by the migrants and refugees. These startups would all have the goal of actually helping the refugees. In addition, George Soros plans to use any profits from the investments realized from the help he and his foundation provides, to go back into other refugee-related programs. Some of the other programs he hopes to initiate are those that involve community centers along with legal counseling centers for many of the migrants.
The investments at http://www.cnbc.com/george-soros/, Mr. Soros said, are all intended to be financially successful and will be designed to create products and services that will actually benefit the migrants and the host communities that they will be living in. Soros’s grand philanthropic plan was announced against the backdrop of the United Nations summit in New York City.
The increasing number of asylum seekers has initiated fierce political debates not only in Europe but also in the United States. The debate is focused on where the millions of refugees should be resettled. One of the reasons that Mr. George Soros is so involved is because at one time in his life Mr. Soros himself was a refugee escaping the communist’s who had taken over his native Hungary. When he escaped Hungary he was granted asylum in England where he learned about investing.