George Soros stands in stark contrast to President Donald Trump. Forbes magazine ranks George Soros as the 19th wealthiest man on planet earth. But for some reason, Donald Trump is not included on the list. It seems that Donald Trump may not even be a billionaire after all. It seems a little odd that he may not have the wealth that he brags about.
But let’s just take a look at what these men do with their money. A few years back, George Soros swooped in to donate $35 million to the state of New York. The money was and at supplementing a federal stimulus program for poor families during a difficult economic time. The federal program matched state funds 4-to-1. This allowed the state of New York to give $200 extra per child to families in need at the outset of the school year. Essentially, George Soros bought school supplies for millions of children across New York State.
Donald Trump does something completely different with his money. He invests in foreign companies, hires foreign workers and has his goods made in foreign countries. He then hires a team of lawyers to hide his wealth from the federal government so that he can dodge paying taxes. And with the extra money that he saves, he sets up failing companies like Trump University and Trump Steaks. He is even being sued by the attendees of Trump University because those people discovered that his business was a scam. Visit Project Syndicate to learn more about George.
The way that these men treat their money may come from their backgrounds. George Soros is a miracle of life. His hard-working Jewish father liquidated his family’s assets in order to dodge the Nazis during the outset of World War II in Budapest. His father changed his family name to Soros in order to avoid identification as being a Jewish family.
Anti-Semitism was rampant across mainland Europe at the conclusion of World War II. George Soros’s family escaped this persecution by relocating to London. This is where George Soros would go to school and create his wealth. After working his way through college, Soros made billions on the British stock markets. He made a giant splash and became a hedge fund celebrity after making $1 billion in one day. He turned nothing into billions. Read more on BigThink about George Soros
Donald Trump, on the other hand, inherited his wealth from his father. And while Trump went to military school, he received for deferments during the Vietnam War for bone spurs in his ankles. Trump claims that he built his entire empire on a $1 million loan from his father. It turns out that he inherited $200 million when his father died. He is not a self-made man and he lacks courage.