NEW YORK (AP) — Open Society Foundations, the philanthropic organizations that billionaire investor George Soros has built up since the 1970s, revealed
Binaifer Nowrojee, the president of the Open Society Foundations, poses for a portrait in her organization's offices, Monday, July 15, 2024, in Washington. OSF made its first new commitment after a years-long internal reorganization, pledging $400 million over eight years to support green economic development.
“How do you improve regulations so that pollution comes down? How do you create tax breaks for businesses that adopt green technologies? How do you address the whole issue of critical minerals?” Nowrojee said were the types of questions OSF is asking with this new funding.
Grantees whose funding will end have been notified, Nowrojee said, with OSF giving $300 million to those organizations in final grants. When OSF began 45 years ago, it established country-specific foundations, which Nowrojee said worked well as a wave of democratization swept through Eastern Europe and elsewhere. OSF has spun off many of those foundations as independent organizations.
That remains their mission, Nowrojee said, though their approaches may change because the world has changed. The spaces for political dissent and free expression have closed in some countries where OSF invested heavily for years. Those include Myanmar, which has been ruled by the military since 2021, and Hungary, where Prime Minister Viktor Orbán’s government effectively forced out OSF and the Central European University that Soros also founded.
OSF’s board now consists of six members — including three Soros family members — down from more than 20 board members in 2016 and 2017.
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