The transfer, according to the Wall Street Journal, accounts for most of Soros’s foundation, which he accrued through a controversial career as an investor.
The Journal notes: “Open Society has vaulted to the top ranks of philanthropic organizations, appearing to become the second largest in the U.S. by assets after the Bill and Melinda Gates Foundation, based on 2014 figures from the National Philanthropic Trust.”
Soros, who is 88, transferred the funds as part of a plan to make sure his activism continues after he retires or passes away. $18 billion is roughly three times the amount of money spent by all parties, in all races, during the 2016 election cycle, according to OpenSecrets.
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Author: Alexander Light