Category Archives: Finance Expert

George Soros $18 Billion Contribution Bonanza pulled him down in the Richest List

The contribution saga of George Soros, the leading philanthropist and investor billionaire, has surprised many people around the world, though it was always expected from him, especially for people who knew him personally. Generally, it was not expected from a highly successful billionaire with nearly $23 billion fortune to contribute almost $18 billion from it to various philanthropic activities. The transfer of the amount to Open Society Foundations has significantly reduced his net worth. Soros was the 20th richest in the Forbes list of billionaires in the United States. But, after the donation, his net asset dropped to $8 billion pulling him down to 59th place in the richest in America list.

To break down the amount, Forbes had already accounted a $3 billion contribution previously, and the rest is currently reduced to conclude the contribution and arrive the current wealth of Soros. The Chief Communication Officer of Open Society Foundations, Laura Silber, stated that the amount was transferred during the past several years through the estate planning of George Soros. It is expected that the contribution would further boost the human rights activities, advance justice efforts, and democratization practices of Open Society Foundations around the world.

Open Society Foundations – which was established by George Soros to spread open society concepts – is considered as the second largest philanthropic group in the world behind Bill Gates and Melinda Foundation. It is known for efforts in public health, refugee relief, immigrant rights initiatives, liberal thoughts, and more across the globe. It campaigns for LGBT rights, helping Roma community in Europe, democratization in Eastern Europe, and more. Though Soros is a highly successful hedge manager and known for founding Soros Fund Management, in the recent years, he started completely focusing on philanthropic efforts. Interestingly, he always had philanthropic thoughts in his mind, and even in his peak years of investments, he spent quality time and money for charitable causes, and read full article.

George Soros was born in Budapest in 1930 and survived the Nazi invasion and Second World War. After the war, his family migrated to the United Kingdom, and he enrolled at London School of Economics where he earned his graduation. During those years, he was introduced to open society ideologies that shaped his thoughts and actions in the later years. After graduation, Soros worked in London for a few years and decided to move to the United States. In 1956, he emigrated and started his investments in the Wall Street that changed his life forever.

His success in the financial world prompted him to establish Soros Fund Management – a hedge fund firm – in the year 1970. Today, it is one of the largest hedge fund firms across the world. His financial success helped him to focus deeply on philanthropic efforts and open society ideas. With that mission, he established Open Society Foundation in the early 1980s. In the later years, the charitable group that works towards the advancement of civil society grew significantly across the globe. Today, Open Society Foundations has branches and projects in over 100 countries.

More Visit: https://www.theatlantic.com/business/archive/2017/12/soros-philanthropy/547247/

Malcolm Casselle and his Career Background

Worldwide Asset eXchange (WAX) is a program that serves as a fully operational virtual marketplace for virtual game assets. Anyone can take part in the asset exchange without any stake in payment processing, security or infrastructure. WAX reveals the power of tokenizing in-game items which facilitates the creation of new assets and ownership of virtual assets. However, tokenization has been faced with a challenge of determination of ways to control and guarantee tokens’ permanent attachment to their assets. Tokens remain attached to their assets based on the Guild’s reputation.

http://casselle.com/

Guilds together with transfer agents, a substitute proof of stake consensus algorithm, and several rating systems are part of the virtual asset exchange process. Guilds are the supervisory panels for transfer agents that ensure the agents execute their duties. Future incorporation of physical assets into Worldwide Asset eXchange will enhance security as the frequently traded assets will be converted to infrequently bought tangible assets. Also, WAX is planning on establishing a new network of assets that were not exchangeable before.

 

Malcolm Casselle is the President of WAX as well as CIO of OPSkins. He is the former President and Chief Technology Officer (CTO) of Tronc which was formerly known as Tribune Publishing. The company deals with digital assets. Before joining Tronc, Malcolm was the General Manager and Senior VP of Digital Media at SeaChange International. He has also previously served at Capital Union Investments in the position of a Director. At CUI, Casselle achieved successful development of private direct investment into last stage web companies.

 

Malcolm was the CEO of Xfire which is an international social network consisting of over 22 Milion members who play video games. He has also ventured into entrepreneurship and is the co-founder of NetNoir. NetNoir is the first non-local corporation to be admitted into the AOL Greenhouse Program. Casselle also pioneered startups such as MediaPass which is a digital subscription solution provider to media companies where he held the position of a CEO.

 

Casselle holds a master’s degree from Stanford University. He attained his Master’s accreditation after graduating from MIT with a computer science degree.

 

Fulfilling Investment-Paul Mampilly

He has had the responsibility and the passion of assisting Americans to achieve wealth in expansion through special opportunities, investing, small-caps stocks as well as technology. M r. Paul has been able to achieve this when he joined Banyan Publishing in 2016 and was appointed the senior editor. After his graduation, he began his career in 1991 serving on Wall Street. He was the assistance Portfolio Manager at Bankers Trust. Being a leader and very hard working; Mr. Mampilly climbed the career ladder in a very short period moving to top positions at Deutsche Bank as well as ING where he was given the responsibility as a manager of multi-billion dollar accounts.

Paul Mampilly can well be described as a leader who throughout his career has portrayed a positive leadership skill; this character has taken him places giving him senior positions in organizations. In 2006 he was selected Kinetics Assets Management to manage their hedge fund. He was not a disappointment to the firm as during his tenure that group has recorded a tremendous expansion of about 25% which has given them an opportunity to be named by Barron as one of the best hedge funds for averaging 26% annually. Paul is a known investor and the Prestigious Templeton Foundation invited him to their competition. During the competition; Paul managed to invest $50million making a profit of $88million within a year. However, the most amazing fact is that Paul was able to make the profits during the 2008-2009 economic crises.

Paul Mampilly is a Charted Financial Analyst who received his MBA from Fordham University, New York. Since the beginning of his career as an economist he loved helping people, and recently he retired from Wall Street. Even after his retirement, Paul does not consider himself a retired person, instead, he has been responsible for helping main street Americans grow their wealth. Through Profit Unlimited he has been assisting the middle class who he could reach while working on Wall Street. Profits Unlimited are a newsletter that helps Americans to invest their money as it offers them helpful tips to do so. Paul’s dream is to introduce Americans to individuals who can assist them to invest as they live a more satisfying life.

Read more: Don’t Miss The Biggest Biotech Market EVER!

The Success Of George Soros in Financial Investment And Philanthropy

In 2017, George Soros, the wealthy founder of Soros Fund Management enlisted the services of Dawn Fitzpatrick in the management of the fund. She joined the entity as the seventh Chief Investment Officer since 2000, but her experience on Wall Street puts her in a good position to ensure the continued success of Soros Fund Management. Currently, Soros Fund Management maintains and manages assets valued at more than $30 billion.

Personal Background

George Soros is a businessman and investor based in New York but is originally from Hungary. He is a vocal supporter of Democratic and liberal causes such as the immigrant rights, democratic societies, religious tolerance, proper education, and adequate healthcare. He has personally experienced being an immigrant after leaving Hungary in 1947 headed to London.

While in London, he studied at the LSE and attained a Master’s degree in Philosophy and paid his tuition fees taking on odd jobs in the city. After graduation, he ventured into the field of finance working for merchant banks specializing in international stock brokerage. He left for the U.S in 1958 and began working as a stock broker on Wall Street. He founded Quantum Fund, previously known as Double Eagle in 1969. Owing to his success on the equity markets and his first fund, George Soros established Soros Fund Management in 1970.

It was while studying at the LSE that he adopted the ideology of “The Open Society and Its Enemies”, by Karl Popper. He believes that an open society is one founded on universal norms that govern human interaction to improve the general quality of life. This concept influenced him to form a nonprofit organization known as the Open Society Foundations. Through this organization, he has dispensed more than $13 billion in charitable causes.

As a resident of Greenwich Village, New York, George Soros was influenced by the stance of Allen Ginsberg, a psychedelic drug expert on drug legalization in the U.S. This position made him adopt a positive view on illegal drugs and he was one of the leaders of the 2000 movement to legalize marijuana. He was also in close to proximity to Michael Harrington, a critic of the discrimination based on class divisions in the U.S. Read his profile at Forbes.

Political and Social Impact

In 2016, George Soros devoted $25 million to the presidential bid of Democrat Hillary Clinton. He has also supported other liberal and Democratic campaigns for notable individuals such as Barack Obama, Joe Biden, and Bill Clinton. He also donates regularly to political action committees including Senate Majority PAC, Immigrant Voters Win, and American Bridge 21st Century.

Read more: http://www.politico.com/story/2016/07/george-soros-democratic-convention-226267

He played a significant part in the smooth transition of Eastern Europe to capitalism from communism. George Soros did this by funding and facilitating cultural exchanges through the Central European University. This environment fostered ideological discussions among the young people of both Eastern and Western Europe. George Soros views himself as an individual with a divine mandate to contribute to making the world and its institutions much more functional and efficient. Know more on cnbc.com about George Soros.