George Soros, the billionaire investor who fled Hungary for England in 1947 has compassion for migrants and refugees. So much so that he has pledged to invest 500 million in special funds specifically designed for the needs of migrants, refugees, and host communities in the internationally. Soros made the announcement during an an ongoing UN Summit on cnbc.com that was convened to address the current refugee crisis, particularly the influx of refugees from Syria, Afghanistan, and Somalia. He explained his plan to help refugees and migrants in the Wall Street Journal.
George Soros cites the lack of infrastructure designed to deal with the influx of migrants and refugees as well as the fact that many of them are forced into terrible working and living conditions as some of the reasons why he is pledging to invest in the needs of these people. He believes that it is important for governments to share in the bulk of the burden for how these people are to be integrated into society, but notes that for the most part they have failed to do so.
He also cited President Obama’s recent call to action to US companies asking them to play a bigger role in the migrant and refugee crisis. Many of these refugees have valuable skills but need training in language and proper certifications in order to continue their work in their host countries. Soros plans at http://www.nybooks.com/articles/2014/11/20/wake-up-europe/ on investing in startups and established companies that work with migrants and refugees, as well as business owned by refugees and migrants.
The recent influx of refugees has caused widespread political debates in many countries, with some people questioning the ability of host countries to house and feed the refugees. Other people have questioned the motivations and ideals of refugees. George Soros donation hopes to help alleviate the burden that many refugees place on their host countries.
In addition to training, many refugees need help with housing and legal advice. Refugees often find themselves separated from their families during the process, and try to find ways to reunite with them. Other refugees need advice on how to become citizens of their host country. They also need help finding homes, jobs, and fitting into the new country that they have moved to. These investments will help with the cost associated with finding their way and their place in a new country and rebuilding their lives after a terrible trauma.
George Soros is a Hungarian born investor and billionaire, who fled Hungary for England in 1947 and later moved to New York. In 1979 he began his work as a philanthropist and founded his charity, the Open Society Foundation. Later, after the fall of the Berlin Wall he founded the Central European University, which is designed to promote critical thinking.