He escaped the Nazis to break the bank of England: The Story of George Soros
Today we will be talking about the man who broke the bank of England. Well, not literally! But there is even more. Having amassed a wealth of over $40 billion, he gave away around $32 billion of it to open society foundations. This act has put him on the record as the most generous man in the world in terms of the percentage of his wealth he gave away, having given away around 64% of his wealth according to Forbes. Today the world may know George Soros as a generous billionaire, but not a lot of people know that George was a war survivor that built his way from the bottom to the top. In this video, we will be uncovering all the myths around his survival from war, how he grew his revenue rapidly and ended up giving away almost all of them!
Hey everyone, and welcome to “Booked” where we inspire others with inspiring stories. In
today’s story we will go over the story of George Soros and his company entrepreneurship
journey.
Born in 1930, George Soros was only 13 years old in 1944 when Nazi Germany invaded and occupied Hungary. Originally born to a Jewish family, George Soro’s parents were a prosperous non-observant Jewish family but had to forge certificates of Christianity to survive the invasion. They even changed their original names from Schwarts which was a German-Jewish name to Soros, all just to survive the war against Jewish people in Hungary. George Soros still thinks it was the best thing to do as it helped his family enjoy liberty in the then anti-Semitic Hungary. It was bad that the Nazis barred Jewish schoolchildren from attending schools. Despite the hard times George and his family faced during the Nazi invasion, George said it allowed him to celebrate his father’s heroism as they did not only found a way to stay afloat but also helped other Jewish people escape the butchery of the Nazis. Altogether over 500,000 people were killed but they would later find their way to escape into London.
At the age of 17, George and his family emigrated to London, George became a student at the London School of Economics where he earned a Bachelor of Science in Philosophy while also working part-time as a railway porter and as a waiter. From there he would go on to receive a Master's in philosophy in 1954. He would also earn a Doctor of Philosophy from the University of London!
When I refer to George Soros as the man who broke the bank of England, of course you didn’t expect to hear about a man who robbed the bank with guns and all sorts of ammunition. For George Soros, the title came about due to a bold bet he made against the British pounds in the year 1992.
George Soros made a one-day gain of $1 billion by short-selling the British pound on September 16, 1992. England was under pressure from other European countries to devalue its currency. Bearing in mind that the odds could go against him, George Soros took a $10 billion short position against the pound, betting that the pound would drop in value. This bold move which earned him $1 billion is considered one of the greatest trades in history. He became one of the world's most notable currency traders in history. The day this massive devaluation happened in the UK has been tagged as Black Wednesday. The UK is said to have lost around £3.3 billion.
📚 George Soros book recommendations:
- The Alchemy of Finance - [ Ссылка ]
- Soros on Soros: Staying Ahead of the Curve - [ Ссылка ]
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