Founded by billionaire George Soros, the nonprofit Open Society Foundations currently employs about 800 people globally. At least 40 percent of those workers will soon be out of jobs.
Open Society Foundations, one of the world’s most prominent philanthropic networks, is gutting its staff, the organization said on Friday. Founded by billionaire, the group currently employs about 800 people globally; at least 40 percent of those workers will soon be out of jobs.
Earlier this month, Soros generated headlines after announcing that he was ceding control of Open Society to his 37-year-old son Alexander. The younger Soros quickly declared that he planned to chart a new course—while maintaining his father’s core liberal values—tellingon Friday describing “significant changes to the Foundations’ operating model” it planned to implement “in the coming months” in an effort to become more nimble.
Samuel Brunson, who researches nonprofits at the Loyola University Chicago School of Law, said the downsizing is not altogether surprising given that Alexander Soros may “have different priorities and goals” than his father. It’s still too early to determine what, if anything, the cuts mean for the charitable sector at large, Brunson continued.George Soros, 92, launched a predecessor to Open Society in his native Hungary in 1984, with theof “encouraging dissent behind the Iron Curtain.
Soros spent a portion of his teenage years living under Nazi occupation; he and his family were Jewish and survived by obtaining “false identity papers,” according to an account of his childhoodby Open Society. He emigrated to the United Kingdom in 1947, where he took jobs as nightclub server and railway porter, before landing in the United States in 1956.
Soros made his fortune as a hedge fund manager; in 1992 he famously and controversially made an enormous profit by betting against the British pound, which allegedly helped spark the financial crisis known as “Black Wednesday.” He was laterAs his influence has grown, Soros has frequently been the target of conspiracy theories and anti-Semitic attacks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alex Soros huddled with top Democrats shortly after taking over his father's nonprofit empireAlex Soros, son of George Soros, met with top Democratic lawmakers shortly after taking over his father's massive nonprofit network in continuation of a long-standing trend.
Read more »
'Godfather of AI' Issues New Warnings Over Potential Risks to SocietyGeoffrey Hinton, one of the so-called 'godfathers' of artificial intelligence, urged governments on Wednesday to step in and make sure that machines do not take control of society.
Read more »
PolitiFact - Claim about breast cancer deaths wildly misstates American Cancer Society dataAn Instagram post claims breast cancer deaths in women younger than 45 spiked from 26,000 to 297,000 within two years because of COVID-19 vaccines. The claim wildly misstates what an American Cancer Society report shows.
Read more »
LARRY KUDLOW: I just yearn for a merit-based, colorblind societyFOX Business host Larry Kudlow reacts to the Supreme Court stopping affirmative action in college programs on Thursday's 'Kudlow.'
Read more »
Affirmative action good for the military, bad for society, high court rulesROBERTS CITES MILITARY’S ‘POTENTIALLY DISTINCT INTERESTS’: Writing for the 6-3 majority, which struck down race-conscious college admissions as unconstitutional, Chief Justice John Roberts carved out a narrow exception for U.S. military academies.
Read more »