Billionaire and politician George Soros is making waves in London. In an article published by USA Today on June 21, 2016, Soros and famed soccer star, David Beckham, pledged support for the United Kingdom to remain in the European Union. This effort to prevent the separation is being referred to as the “Remain Campaign”. Soros, a well-known investor and currency trader weighed in on the issue stating “a British vote to leave the 28-nation European Union could severely damage living standards and trigger a plunge in the British pound — more than what happened on Black Wednesday nearly 24 years ago. The pound could fall at least 15% and possibly by more than 20%.”
Considering his reputation and position of power, Soros’ statements are being taken seriously among his peers, politicians, and citizens of the European Union. “My success in the financial markets has given me a greater degree of independence than most other people,” George Soros once wrote. “This allows me to take a stand on controversial issues: In fact, it obliges me to do so because others cannot.” The Financial Times reported that in a survey conducted by the Creative Industries Federation, a lobby group for the arts, 96 percent of its own members are supporters of the Remain Campaign and its efforts. The Financial Times also goes on the say that celebrity endorsements, such as the one made by George Soros are powerful because they can guarantee media coverage and “provide sunny faces for leaflets”.
Brexit and the Future of Europe
Soros has become a very common character in the news as of late. In another recent article by the New York Times published earlier this month, George Soros is noted for his liberal political standing and his efforts to fund and encourage Latino voters. The paper reports that he will help to bankroll a campaign to mobilize Latinos, along with other immigrants, to the polls for the upcoming American presidential election. It is reported that the campaign will be worth as much as $15 million.
Aside from his political efforts and wildly-successful career in finance, George Soros is also known for his philanthropic efforts. More than 30 years ago, after deciding he had earned enough money for himself, Soros started the Open Society Foundations. The charity works to provide funding to many groups in need, including black students in need of academic funding in South Africa. “Open society is based on the recognition that our understanding of the world is inherently imperfect,” Soros said. “What is imperfect can be improved.”
Due to his immense wealth, propensity to speak up, and philanthropic efforts, it is clear that George Soros will continue to come up in headlines world-wide.
Learn more about George Soros: http://www.cnbc.com/2016/06/25/brexit-makes-eus-dissolution-practically-inevitable-george-soros.html