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9May/17Off

George Soros may be most abnegated philanthropist in history

George Soros has always been a curiosity among his plutocratic peers. Never devoutly interested in money, Soros always wanted to become a philosopher rather than a businessman.

In fact, he didn't even know that he wanted to go into a career on Wall Street until much later in life, when he was already in his late twenties.

One interesting consequence of this is that, it seems, Soros has long held the philosophy that philanthropic pursuits are the end to which all investors should strive in created means to fulfill. Over the course of his career, Soros has given away more money than perhaps any other investor in modern history. But what's more, he has given away this money throughout the entirety of his career; this includes significant sums very early in his investment career, when those returns would have had the opportunity to compound over many years, generating huge returns.

Many investors such as Warren Buffett, Carl Icahn and even the Koch brothers only started giving away vast sums of their fortunes much later in life. What this meant for these investors is that all of the money that they generated early in their careers was always able to compound. Many people do not fully appreciate the power that money left to compound returns has in building wealth. But it's safe to say that, for example, in the case of Warren Buffett, if Mr. Buffett would have been willing to give away the same amount of money that George Soros did at the same point in his career, he would have just a small fraction of his current wealth. Know more about George Soros on Investopedia.

After starting his first hedge fund, Soros Fund Management, in 1972, Soros went on to have an incredibly successful decade. But during this time, he almost immediately began giving away serious portions of his wealth to causes in which he believed If we assume that George Soros gave away the equivalent of just $1 billion in 1980, a very conservative assumption, given the fact that he has donated over $15 billion to date, his total net worth, compounding at a rate of 25 percent per year would be in excess of $3.5 trillion today. This would easily make him the richest man who has ever lived.

Because of Soros’ incredible rates of return, even the small amount of money that he gave away early in his career would be worth tremendous sums today.  Thus, it's safe to assume that absent Soros’ extreme generosity he would today be the richest man alive. Learn more on discoverthenetworks.org about George Soros.

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  1. Just as one example of this phenomenon, take George Soros’s early career. That’s because it would have been able to generate over 25 percent per year for more than 40 years. This might be the reason the best cv writers has done all that they can to ensure that everything goes as planned and it will still be used in the future.


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