The government today chastised billionaire philanthropist George Soros for criticizing Prime Minister Narendra Modi and raising concerns about Hinderberg Research’s report on industrialist Gautam Adani’s empire.
Here are ten facts about George Soros:
The 92-year-old philanthropist is one of the world’s wealthiest men. According to Encyclopaedia Britannica, he was born into a prosperous Jewish family that fled Hungary (when he was 17) when the Nazis arrived. They arrived in London in 1947, where Mr. Soros studied philosophy at the London School of Economics.
After finishing his studies, he went to work for the London merchant bank Singer & Friedlander. According to Encyclopaedia Britannica, Mr. Soros moved to New York in 1956 and began working as an analyst of European securities.
After establishing a hedge fund in 1973, Mr. Soros made his mark in the financial world by making risky investment decisions. From 1969 to 2011, he was in charge of client funds. According to Forbes, Mr. Soros made a $1 billion profit by shorting the British pound. According to the outlet, he became known as the man who broke the Bank of England.
According to Bloomberg, Mr. Soros has a net worth of $8.5 billion and is the founder of the Open Society Foundations, which provides grants to organizations and individuals that promote democracy and transparency, and freedom of speech.
Mr. Soros established these foundations after the Cold War ended in Czechoslovakia, Poland, Russia, and Yugoslavia. These Open Society Foundations were active in over 70 countries by the turn of the century. He has also been involved in political activism, supporting Barack Obama, Hillary Clinton, and Joe Biden’s presidential campaigns. Mr. Soros has criticized China’s President Xi Jinping, former US President Donald Trump, and Turkish President Recep Tayyip Erdogan.
Mr. Soros made the remarks that enraged the government during a speech before the Munich security conference. He cited the recent Adani Group crisis and stated that Prime Minister Modi “must answer questions” from foreign investors and Parliament about allegations of fraud and stock manipulation against the billionaire’s companies.
He also stated that this will “significantly weaken Modi’s stranglehold on India’s federal government” and allow much-needed institutional reforms to be pushed. “I may be naive, but I believe India will experience a democratic revival.” “Mr. Soros stated.
Smriti Irani, a Union minister, called it an “attack on India that will not be tolerated” and urged Indians to respond collectively to “foreign powers that try to intervene in India’s democratic processes.” “. She also called the billionaire a “designated economic war criminal”.
The opposition has accused the BJP-led government at the Centre of favoritism and crony capitalism. They had even raised the issue during Parliament’s budget session, demanding a joint parliamentary committee investigation. In an interview with the news agency ANI, Union Home Minister Amit Shah stated that there is nothing for the BJP to hide or be afraid of.
Shares in the ports-to-energy Adani Group, controlled by billionaire Gautam Adani, one of the world’s richest people, have lost billions of dollars in market value since the January 24 report by US-based short-seller Hindenburg Research, which accused it of improper use of offshore tax havens and stock manipulation. Mr. Adani has categorically denied the allegations, calling them a “maliciously mischievous” reputational attack.
