George Soros: Quantum Fund Chairman

George Soros is a World leading stock trader, philanthropist and a true advocate of peaceful co-existent in our countries. He is the chairman of Quantum Fund that made him listed as the 19th richest person in the whole world as listed by Forbes in February 2017. He was born and brought up in the Kingdom of Hungary in a small city called Budapest. He is the son of once a great lawyer and a great mum who was a great writer. He was born at a time when political upheavals were the life. He survived many massacres including the Budapest siege. It was a very serious war whereby it used to be house to house, person to person operation. His parents struggled to secure him from the wars. Having been born into a Jewish family they had to hide their identities in order to survive the deadly days on this earth.

The family of George Soros relocated from Budapest, the Kingdom of Hungary to England specifically in London for advancement in his studies. He struggled but later joined London School of Economics to pursue a Bachelors of Science degree in Philosophy. After graduation, he proceeded to pursue masters at the same university. He completed and faced the real reality of life. He started applying for many jobs to get shortlisted for interviews but his request was turned down. He started as a sales person and then was referred to work at Singer and Friedlander. He then joined another company, F.M Mayer in the same year. He worked for another two years as a clerk and then moved as an analyst at Wertheim & Co. He worked for a half decade and joined Arnhold and S.Bleichroeder. There, he worked for ten years as the vice president and that is how he forgot about becoming a philosopher.

In the year 1970, George Soros founded a company called Soros Fund Management. He became the company’s chairman at that time. He worked together with the assistance of other directors. In 1973, Soros resigned from a company called Double Edge Fund. This was as a result of conflicting interests and they limited him from operating the two companies. He thought of establishing Soros fund and pleaded with the investors of Double Edge to invest part of their shares with the company. Later he changed the name of his company to Quantum Fund which they named after the theory of called quantum mechanics. The value of the company had grown to $12m. They kept on reinvesting their profits together with Jim Rodgers. By the year 1981, their fund was $400m and had also made 22% losses. Some investors also made some redemptions that reduced the value to $200 m.The fund by the year 2013 had generated $40 billion dollars.