George Soros No:29 Billionaire 2009

by saranya 2010-03-08 15:49:34

Net Worth:$11.0 bil
Fortune:self made
Source:hedge funds
Country Of Citizenship:United States
Residence:Westchester, New York
Education:London School of Economics, Bachelor of Arts / Science,
Marital Status:divorced, 5 children

Told an audience at Davos that his fund's returns were in "positive territory" in 2008. Testified alongside billionaire hedge funds managers John Paulson and Ken Griffin in November: predicted hedge fund industry's assets would shrink "between 50 and 75%." Survived Nazi occupation of Hungary, studied at London School of Economics. Founded Quantum Fund 1969; one of nation's first hedge funds. "Broke" British pound in 1992 with Stanley Druckenmiller; shorted England's currency, said to have made $1 billion in one day when Bank of England stopped fixing exchange rate. Not so lucky in Soviet Union: lost several hundred million dollars in telecom investment when Soviet economy collapsed. Since 2000 has closed door to new investors; today the majority of Quantum Endowment Fund's $20 billion in assets are believed to be his. Sons Robert and Jonathan involved in business. Came out of retirement in 2007, made bearish bets; fund up 32% that year. Has given away $6 billion since 1979 via Open Society Institute.

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