12 august 2024 : Ravi Shankar Prasad has accused the Congress party of attempting to undermine the stock market and negatively impact small investors as a result of their opposition to Prime Minister Modi. On Monday, the Bharatiya Janata Party (BJP) Member of Parliament, while addressing the recent Hindenburg report, claimed that George Soros, a well-known critic of India, is a significant investor in Hindenburg. Prasad reiterated his allegations against the Congress, asserting that their actions are detrimental to the stock market and small investors due to their stance against Prime Minister Narendra Modi. This is not the first instance where the BJP has sought to associate George Soros with the Congress party. In June of the previous year, former Union minister Smriti Irani accused Rahul Gandhi of having ties to Soros, alleging that he had met individuals supported by the American financier.
Who is George Soros, frequently referenced in Indian political discussions?
George Soros is a distinguished Hungarian-American entrepreneur, investor, and philanthropist. His net worth is estimated at $6.7 billion, and he has donated over $32 billion to the Open Society Foundations, with $15 billion already allocated, which constitutes 64 percent of his original wealth. Forbes has recognized him as the “most generous giver” based on the percentage of his net worth that he has contributed.
Born into a Jewish family, Soros fled the Nazi occupation of Hungary and moved to the United Kingdom in 1947. He studied at the London School of Economics, earning a Bachelor of Science in Philosophy in 1951 and a Master of Science in the same discipline in 1954.
Soros began his career in merchant banking in both Britain and America before establishing his first hedge fund, Double Eagle, in 1969. The success of this fund enabled him to create Soros Fund Management, his second hedge fund, in 1970.
At 94 years old, Soros is recognized for his support of “progressive and liberal causes,” directing his philanthropic efforts through the Open Society Foundations. Between 1979 and 2011, he donated over $11 billion to various charitable initiatives. By 2017, his total contributions had reached significant levels.
