The Business Acumen of George Soros

SOURCE: Forbes

In financial circles, George Soros is hailed as one of the most important people alive today. He has carved out an incredible legacy for himself during the course of a career that has spanned more than five decades. Her has become a man that many people look to for financial advice. Generally, people tend to follow the various financial decisions that George makes because they are confident they will be correct. George’s story is really quite remarkable if you really stop and take a look at it. Here is a man who started with absolutely nothing and went on to become one of the wealthiest men who ever lived. How he achieved this remarkable feat is like something out of a Hollywood movie. However, it is very real.

George was born into a family living in Budapest, Hungary who did not have a lot of money. To make matters worse, George’s adolescence was interrupted by the outbreak of World War II and the eventual occupation of Hungary by the Nazis. He was forced to put any future plans he had on hold and worry about the more important task of staying alive. He remained in hiding until Hungary was eventually set free from Nazi occupation and the war wound to a close. A few years later, George began to get an education that would lead him on a path that he could have scarcely believed at the time. The London School of Economics was where Soros decided to begin his higher education. He missed his family back in Hungary while he was attending school in England. However, he knew that he would be able to support them better later in life if he received his education at a school with an excellent reputation.

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After George received his degree, he began a steady climb up the banking industry. He developed a solid reputation as a man who could predict what the foreign markets were going to do. As you might imagine, many people wanted to take advantage of his expertise once they discovered how accurate his market forecasts were. However, George had much bigger plans than simply using his unique talent to make other investors rich. His goal for a long time was to stop working for the merchant banks where he had become a success. He wanted to venture out and start his own investment firm. He was finally able to do this in 1969 thanks to the help of money invested by many of the loyal people who had done business with George during the previous decade. His hedge fund was a huge success.

Soros Fund Management is the name he chose for his company. It would eventually become one of the most successful hedge fund operations in the world. Managing well over $20 billion in assets allowed George to accumulate an incredibly vast fortune that now ranks him among the world’s wealthiest people. He has come a long way since his days of being raised in a tiny house in Budapest.