- George Soros is a Hungarian-American businessman and philanthropist.
- He is in the news for his comments on the Hindenburg report on the Adani Group and Gautam Adani’s connections with Prime Minister Narendra Modi.
- Soros has a net worth of about $.8.5 billion and he is the founder of the Open Society Foundations, which gives grants to groups and individuals that promote democracy, transparency and freedom of speech.
Billionaire investor George Soros is in the news for his comments on the recent report by short seller Hindenburg Research on the Adani Group, and Gautam Adani’s connections with Prime Minister Narendra Modi. George Soros has criticised the Prime Minister for not addressing the issue.
The fallout from US short seller Hindenburg Research’s attack on the conglomerate threatens to hurt investor confidence in India, has fuelled concerns about the country’s regulatory framework and sparked questions about Prime Minister Narendra Modi’s ties with Adani.
“Modi is silent on the subject, but he will have to answer questions from foreign investors and in parliament,” said Soros, according to a report. “This will significantly weaken Modi’s stranglehold on India’s federal government and open the door to push for much-needed institutional reforms. I may be naive, but I expect a democratic revival in India,” the billionaire investor remarked.
The Bharatiya Janata Party (BJP) has already hit back at Soros’ remarks. Union Minister Smriti Irani called Soros’ remark a ‘declaration to destroy India’s democratic processes’, and added, “War is being mounted against India, PM Modi standing between it and the country’s interest,” quoted news agency.
Who is George Soros?
- George Soros is a billionaire Hungarian-American investor, hedge-fund manager, short-seller and philanthropist.
- Born in 1930 to Jewish family in Hungary, his family changed their name from “Schwartz” to “Soros” to cover up their Jewish identity amidst the rise of antisemitism in Hungary. His family survived the Holocaust by purchasing forged identity papers.
- In 1956, he emigrated to the United States, entering the world of finance and investments, where he made his fortune. In 1973, he launched his own hedge fund and went on to become one of the most successful investors in the history of the United States.
- In the 1980s, he helped promote the open exchange of ideas in Communist Hungary by funding academic visits to the West and supporting fledgling independent cultural groups, as well as other initiatives.
- Soros became a household name after betting against the British pound in 1992, helping to force the currency out of the exchange-rate system that preceded the euro.
- Soros, has a net worth of about $.8.5 billion, is the founder of the Open Society Foundations, which gives grants to groups and individuals that promote democracy, transparency and freedom of speech.
