Good Bad Billionaire George Soros: 'The man who broke the Bank of England'
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Sep 2, 2024 George Soros, a legendary investor and philanthropist, reflects on his journey from escaping Nazi-occupied Hungary to becoming a financial titan. He shares the thrilling story of how he made a billion dollars in a single day by shorting the British pound, an act that earned him the title of 'the man who broke the Bank of England.' The conversation dives into the ethical dilemmas of investing, his philosophical influences, and the duality of his legacy, exploring how he balances being a notorious billionaire with his impactful charitable efforts.
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Early Life and Philanthropy
- George Soros, born in 1930s Hungary, changed his name to avoid antisemitism.
- At nine, he started a newspaper and donated the profits to Finland's fight against the Soviets.
Early Financial and Philosophical Developments
- Soros learned about arbitrage by observing different exchange rates across Budapest.
- He later studied philosophy at LSE, influenced by Karl Popper's open society concept.
Move to Wall Street and Early Success
- Soros worked as a bookkeeper in London before moving to Wall Street in 1956 to make money.
- He profited from the Suez Crisis by leveraging international connections and arbitrage.