Career Timeline of George Soros: Major Achievements and Milestones

How George Soros built a successful career. Explore key moments that defined the journey.

George Soros is a highly successful American investor and philanthropist with a net worth of $6.7 billion as of October 2023. He is renowned for his significant philanthropic contributions, having donated over $32 billion to the Open Society Foundations, with $15 billion already distributed. This represents 64% of his original fortune. Soros was recognized by Forbes in 2020 as the "most generous giver" based on the percentage of his net worth donated.

Sections (7)

Full Timeline Early Life & Education Career & Achievements Success & Recognition Challenges & Struggles Controversies & Scandals Legacy & Impact

1954: Soros Began Financial Career

In 1954, George Soros started his financial career at the merchant bank Singer & Friedlander of London, initially working as a clerk.

1956: Soros Moved to New York City

In 1956, George Soros relocated to New York City and worked as an arbitrage trader for F. M. Mayer, specializing in European stocks.

1959: Soros Moved to Wertheim & Co.

In 1959, after working at F. M. Mayer for three years, George Soros joined Wertheim & Co., aiming to save $500,000 to return to England and study philosophy.

1963: Soros Became Vice President at Arnhold and S. Bleichroeder

In 1963, George Soros became a vice president at Arnhold and S. Bleichroeder, but found the job unfulfilling due to market conditions.

1963: Soros Worked as Analyst of European Securities Until 1963

Until 1963 George Soros worked as an analyst of European securities at Wertheim & Co.

1966: Soros Started a Fund to Experiment with Trading Strategies

In 1966, George Soros started a fund with $100,000 of the firm's money to experiment with his trading strategies.

1967: First Eagle fund established

In 1967, Soros and Henry H. Arnhold established the First Eagle fund which was an offshoot of Arnhold and S. Bleichroeder.

1969: Soros Sets Up Double Eagle Hedge Fund

In 1969, George Soros established his first hedge fund, named Double Eagle, with $4 million in investor capital, including $250,000 of his own money.

1970: Soros Founded Soros Fund Management

In 1970, George Soros founded Soros Fund Management and assumed the role of chairman.

1970: Soros Fund Management Founded

In 1970, Soros Fund Management was founded by George Soros and he became its chairman.

1973: Soros' Experience at Arnhold and S. Bleichroeder Ended

From 1963 to 1973, George Soros's experience as a vice president at Arnhold and S. Bleichroeder resulted in little enthusiasm for the job.

1973: Launch of Quantum Endowment Fund

In 1973, George Soros launched his Quantum Endowment Fund.

1973: Soros Resigned From Management of Double Eagle Fund

In 1973, George Soros resigned from the management of the Double Eagle Fund due to perceived conflicts of interest and established the Soros Fund.

1973: Double Eagle Fund Reached $12 Million

In 1973, the Double Eagle Fund grew to $12 million and formed the basis of the Soros Fund, with George Soros and Jim Rogers receiving returns on their share of capital and 20 percent of the profits each year.

1973: Quantum Fund Inception

Since its inception in 1973, the Quantum Fund has generated $40 billion.

1979: Soros Financially Supported Dissidents

From 1979, as an advocate of 'open societies', Soros financially supported dissidents including Poland's Solidarity movement, Charter 77 in Czechoslovakia and Andrei Sakharov in the Soviet Union.

1984: Soros Founded First Open Society Institute in Hungary

In 1984, George Soros founded his first Open Society Institute in Hungary with a budget of $3 million.

1987: Prediction of disaster in "The Alchemy of Finance"

In 1987, George Soros predicted disaster in his book "The Alchemy of Finance."

The Alchemy of Finance

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1988: Advice to the "No" campaign in Chile's plebiscite

In 1988, George Soros advised the "No" campaign in Chile's plebiscite, providing resources and data crucial for their television program and victory.

1988: Soros declines to participate in group effort to purchase shares in Société Générale

In 1988, after being contacted by French financier Georges Pébereau to join investors purchasing shares in Société Générale, Soros opted to accumulate shares in Société Générale, Suez, Paribas, and Compagnie Générale d'Électricité independently.

September 1992: Building a Short Position in Pounds Sterling

Leading up to Black Wednesday in September 1992, George Soros built a large short position in pounds sterling, recognizing the unfavorable position of the United Kingdom in the European Exchange Rate Mechanism.

September 16, 1992: Black Wednesday

On September 16, 1992, also known as Black Wednesday, Soros's fund had sold short more than $10 billion in pounds, profiting from the UK government's reluctance to raise interest rates or float its currency.

October 26, 1992: Soros on Black Wednesday Position

On October 26, 1992, George Soros stated that his total position by Black Wednesday was worth almost $10 billion, and he had planned to sell even more, expressing amusement at Norman Lamont's plan to borrow nearly $15 billion to defend sterling.

1992: Black Wednesday and "The Man Who Broke the Bank of England"

In 1992, during the Black Wednesday UK currency crisis, George Soros short sold US$10 billion worth of pounds sterling, earning him a profit of $1 billion and the reputation of "The Man Who Broke the Bank of England".

1994: Speech on assisted suicide and endorsement of Oregon Death with Dignity Act

In 1994, George Soros delivered a speech where he mentioned offering to help his mother commit suicide, as she was a member of the Hemlock Society. In the same speech, he also endorsed the Oregon Death with Dignity Act and contributed to its advertising campaign.

1995: Financial Backer of Washington Soccer L.P.

In 1995, George Soros was a financial backer of Washington Soccer L.P., the group that owned the operating rights to Major League Soccer club D.C. United when the league was founded.

February 5, 1996: Soros Traded Billions of Finnish Markkas

On February 5, 1996, George Soros was believed to have traded billions of Finnish markkas in anticipation of selling them short, following the floating of the markka due to the early 1990s depression.

1997: Soros Fund Management Shorting Currencies and the Thai Financial Crisis

In 1997, Soros Fund Management, observing trade and capital account discrepancies, sold short the Thai baht and Malaysian ringgit. Later in 1997, Prime Minister Mahathir of Malaysia accused Soros of causing the financial crisis, an accusation Soros denied, stating they became buyers of the ringgit as it declined to profit from their earlier speculation.

1998: Prediction of disaster in "The Crisis of Global Capitalism"

In 1998, George Soros predicted disaster in his book "The Crisis of Global Capitalism."

The Crisis Of Global Capitalism: Open Society Endangered

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1998: The Crisis of Global Capitalism: Open Society Endangered

In 1998, Soros explained his role in the crisis in his book "The Crisis of Global Capitalism: Open Society Endangered".

The Crisis Of Global Capitalism: Open Society Endangered

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2000: Improving Ricardo Lagos' image in business circles

In 2000, George Soros aimed to enhance the image of Ricardo Lagos, then a presidential candidate, within business circles.

2000: Loss of operating rights to D.C. United

In 2000, Washington Soccer L.P., the group financially backed by George Soros that owned the operating rights to Major League Soccer club D.C. United, lost these rights.

November 11, 2003: Stating that removing President Bush was the central focus

On November 11, 2003, George Soros declared that removing President George W. Bush from office was the "central focus" of his life, describing it as "a matter of life and death." He also stated he would sacrifice his entire fortune to defeat Bush.

2003: Soros Donated to 527 Groups

During the 2003-2004 election cycle, Soros donated $23,581,000 to various 527 Groups, which are tax-exempt groups under the United States tax code.

2003: Publication of "The Bubble of American Supremacy"

In 2003, George Soros published his book "The Bubble of American Supremacy," which critiqued the Bush administration's War on Terror. He drew parallels between political contexts and the self-reinforcing processes that generate bubbles in stock prices.

2003: Project on Death in America concluded

In 2003, the Project on Death in America, an initiative of the Open Society Institute that aimed to transform the culture and experience of dying and bereavement, concluded its activities, which had been ongoing since 1994.

September 28, 2004: Multistate tour with speech "Why We Must Not Re-elect President Bush"

On September 28, 2004, George Soros dedicated more money to the campaign against President Bush and commenced his own multistate tour with a speech entitled "Why We Must Not Re-elect President Bush", delivered at the National Press Club in Washington, D.C.

2004: Soros Becomes a Major Donor to U.S. Political Campaigns

Until the 2004 presidential election, Soros had not been a large donor to U.S. political campaigns. Following George W. Bush's reelection in 2004, Soros and other donors backed Democracy Alliance, a political fundraising group supporting progressive causes.

November 2005: Advocating for Kosovo's independence

In November 2005, George Soros publicly stated his belief that Kosovo should be granted independence.

2005: Attempted Purchase of Washington Nationals

In 2005, George Soros was a minority partner in a group that attempted to buy the Washington Nationals, a Major League Baseball team.

2006: Soros Discussed Career Transition

In 2006, during a discussion, George Soros explained how he transitioned from selling fancy goods to working in a merchant bank after writing to numerous managing directors in London.

May 2008: Publication of "The New Paradigm for Financial Markets"

In May 2008, George Soros published his book "The New Paradigm for Financial Markets," where he described a "superbubble" that had been building up over the past 25 years and was on the verge of collapse.

The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means

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2008: Increased attention to reflexivity theory after financial crisis

After the 2008 financial crisis, more attention was given to Soros's theories of reflexivity, which attempt to explain why markets overshoot or undershoot equilibrium states. This theory became the focus of an issue of the Journal of Economic Methodology.

2008: Reflexivity in housing markets

Around 2008, reflexivity in financial markets became evident in the debt and equity of housing markets. Lenders made more money available to more people in the 1990s, increasing house prices. Balance sheets improved, leading to more lending and higher prices.

2008: Funding drug policy reform efforts

In 2008, George Soros donated $400,000 to support the Massachusetts Sensible Marijuana Policy Initiative, which decriminalized marijuana possession. He also funded similar initiatives in other states and organizations like the Lindesmith Center and Drug Policy Foundation. Additionally, he donated $1.4 million to support California's Proposition 5, a ballot measure aimed at expanding drug rehabilitation programs.

2008: Induction into Hedge Fund Manager Hall of Fame

In 2008, George Soros was inducted into Institutional Investors Alpha's Hedge Fund Manager Hall of Fame along with other notable figures.

2008: Associated with AS Roma

In 2008, George Soros's name was associated with AS Roma, an Italian association football team, but the club was not sold.

February 2009: Assessment of the world financial system's disintegration

In February 2009, George Soros stated that the world financial system had effectively disintegrated and was on life support, with no imminent resolution to the crisis in sight.

June 2009: Soros Donated to Central Europe and Eastern Europe

In June 2009, Soros donated $100 million to Central Europe and Eastern Europe to counter the impact of the Great Recession on the poor, voluntary groups and non-government organizations.

August 2009: Soros Donates to New York State for Underprivileged Children

In August 2009, Soros donated $35 million to the state of New York, earmarked for underprivileged children, providing $200 per child aged 3-17 to parents with benefit cards. Additionally, $140 million was added to the fund by New York from federal recovery act money. Soros also supported the Center for American Progress.

October 2009: Views on marijuana and funding for cannabis legalization

In October 2009, George Soros shared his opinion that marijuana is less addictive but not suitable for children and students. He also revealed that he hasn't used marijuana in years. Soros has been a significant financial supporter of the Drug Policy Alliance, an organization advocating for cannabis legalization, with annual contributions of approximately $5 million from one of his foundations.

October 2009: Soros Founded the Institute for New Economic Thinking

In October 2009, in response to the Great Recession, George Soros founded the Institute for New Economic Thinking. The think tank consists of international economic, business, and financial experts tasked with investigating new approaches to the international economic and financial system.

October 2010: Donation to support California's Proposition 19

In October 2010, George Soros donated $1 million to support California's Proposition 19.

July 2011: Soros Returned Outside Investors' Money

In July 2011, George Soros returned funds from outside investors, valued at $1 billion, and instead invested funds from his $24.5 billion family fortune, citing changes in U.S. Securities and Exchange Commission disclosure rules.

August 21, 2012: Stake in Manchester United

On August 21, 2012, it was reported that George Soros acquired roughly a 2% stake in English football club Manchester United through the purchase of 3 million of the club's Class-A shares.

September 27, 2012: Soros Donated to Priorities USA Action

On September 27, 2012, Soros donated $1 million to Priorities USA Action, the super PAC backing President Barack Obama's reelection.

October 2013: Soros donated to Ready for Hillary

In October 2013, Soros donated $25,000 to Ready for Hillary, becoming a co-chairman of the super PAC's national finance committee.

2013: Quantum Fund Made $5.5 Billion

In 2013, the Quantum Fund made $5.5 billion, becoming the most successful hedge fund in history again.

January 2014: Ranked Number 1 by LCH Investments

In January 2014, George Soros was ranked number 1 in LCH Investments' list of top 20 managers, having posted gains of almost $42 billion since the launch of his Quantum Endowment Fund in 1973.

June 2015: Soros Donated to Super PAC Priorities USA Action to support Hillary Clinton

In June 2015, Soros donated $1 million to the Super PAC Priorities USA Action, which supported Hillary Clinton in the 2016 presidential race.

December 2015: Soros donated to Super PAC Priorities USA Action to support Hillary Clinton

In December 2015, Soros donated $6 million to the Super PAC Priorities USA Action, which supported Hillary Clinton in the 2016 presidential race.

2015: Fund Invested in Fen Hotels

In 2015, the Quantum Fund announced its investment of $300 million to help finance the expansion of Fen Hotels, an Argentine hotel company, to develop 5,000 rooms across Latin America.

January 2016: Prediction of a financial crisis at Sri Lanka economic forum

In January 2016, at an economic forum in Sri Lanka, George Soros predicted a financial crisis similar to the 2007-2008 crisis, citing global currency, stock, and commodity markets, as well as the declining Chinese yuan.

August 2016: Soros donated to Super PAC Priorities USA Action to support Hillary Clinton

In August 2016, Soros donated $2.5 million to the Super PAC Priorities USA Action, which supported Hillary Clinton in the 2016 presidential race.

2016: Soros Donates to Progressive Criminal Justice Reform Proponents

Since 2016, Soros has been donating sums exceeding $1 million to the campaigns of progressive criminal justice reform proponents through the Safety and Justice PAC in local district attorney elections.

2017: Philanthropic Donations Totaled $12 Billion

By 2017, George Soros's donations on civil initiatives, poverty reduction, transparency, scholarships, and universities around the world reached a total of $12 billion.

2017: Study on Soros Funding of Scientists in Former Soviet Republics Published

In 2017, a study found that a grant program by George Soros, which awarded funding to over 28,000 scientists in the former Soviet republics shortly after the end of the Soviet Union, had significant positive impacts on scientific publications and retention in the science sector.

2017: Soros funded ad campaign helped elect Larry Krasner

In 2017, with the help of a $1.5 million ad campaign funded by Soros, Larry Krasner was elected as the District Attorney of Philadelphia.

July 2019: Soros donated to Democracy PAC

By July 2019, George Soros had donated $5.1 million to Democracy PAC.

2020: Soros Launched Democracy PAC

For the 2020 election cycle, Soros launched a new super PAC called Democracy PAC.

2020: Soros supports campaigns of progressive candidates

In 2020, Soros was the largest donor supporting George Gascón for Los Angeles County District Attorney, contributing $2.25 million to superPACs. Soros also gave $2 million to a PAC supporting Kim Foxx's campaign for Cook County State's Attorney.

2020: Soros Gave at Least $500,000 to Joe Biden

In the second quarter of 2020, Soros gave at least $500,000 to Joe Biden, the presumptive Democratic presidential nominee, becoming one of the campaign's largest donors.

2022: Soros was the country's largest donor for the United States elections

For the 2022 United States elections, Soros was the country's largest donor. He donated $128.5 million to support the Democratic Party in the election cycle.