Presidential Medal of Freedom to George Soros
On Saturday, President Biden named 19 who contributed to politics, philanthropy, sports, and the arts as winners of the Presidential Medal of Freedom. The official White House statement praised billionaire investor and Open Society Foundations founder George Soros for his “focus on global initiatives that strengthen democracy, human rights, education, and social justice.”
What is the Presidential Medal of Freedom?
The Presidential Medal of Freedom is the Nation’s highest civilian honor, presented to individuals who have made exemplary contributions to the prosperity, values, or security of the United States, world peace, or other significant societal, public, or private endeavors.
Elon musk statement
The choice to award Clinton and Soros the Presidential Medal of Freedom infuriated US internet users. The backlash was spearheaded by tech billionaire Elon Musk, who called the choice to give Soros the award “a travesty.” In a video that he posted to his podcast, Musk also expressed his belief that Soros “fundamentally hates humanity.”
Who is George Soros
George Soros is a Hungarian-American hedge fund manager-turned-philanthropist. Born in Budapest, Hungary, in 1930 to Jewish parents, the family survived the Nazi occupation of his country in 1944-45. He moved to London in 1947 as the communists ascended to power in Hungary. He studied Philosophy at the London School of Economics and obtained his Master of Science in Philosophy in 1954. In 1956, he emigrated to the US, where he started initially as an analyst of European securities. In 1973, he launched his hedge fund and became known for his successful currency trades, particularly his bet against the British pound in 1992. Soros is considered one of the pioneers of the modern hedge fund industry.
Additionally, he has been a philanthropist, contributing to causes including public health, education, and human rights. He became an outspoken supporter of legalizing same-sex marriage in the early 2000s and contributed to the growth of the medical marijuana movement in America. As of December 5, 2024, Soros’s net worth was $6.5 billion, according to Bloomberg. Using this substantial financial power, he established the Open Society Foundations, a network of partnerships, foundations, and initiatives that are currently active in more than 100 nations. The foundations spend more than $1 billion a year.
A divisive figure in politics
Soros has long been criticized for his political engagement even while he is praised for his charitable work. In addition to being a big Democratic party donor, Soros has financed progressive district attorneys, a practice that his detractors attribute to an increase in crime in major American cities. His activism abroad has been as contentious. Soros denounced nationalism, especially that of India, as the “biggest setback” for global democracy in a 2020 speech at the World Economic Forum.