Originally published August 15, 2023 6:00 pm PDT
The move follows Soros’ son Alex taking over his father’s Open Society Foundations.
QUICK FACTS:
- Billionaire megadonor George Soros’ Open Society Foundations will terminate many of its European Union-based projects and shift to other parts of the world.
- An email obtained by Reuters describing the move reportedly reads, “Ultimately, the new approved strategic direction provides for withdrawal and termination of large parts of our current work within the European Union, shifting our focus and allocation of resources to other parts of the world.”
- It continues, “This shift is not a reflection on past work and the many contributions by staff over the years, but rather a forward-looking decision rooted in future opportunities to make a significant impact.”
- It is unknown how the foundation will adjust its funding, although a spokesperson said the organization will continue to fund programs in Ukraine, Moldova, and the western Balkans.
- “The new model will see the majority of our grant-making organized around specific opportunities for impact, to be determined over the coming months,” the spokesperson told Reuters.
SOROS’ EUROPEAN PROJECTS:
- George Soros is known for funding projects benefiting left-wing political causes, like pro-immigration and pro-LGBTQ organizations.
- As a result of funding such projects, Soros moved his headquarters from Budapest, Hungary, to Berlin, Germany after Hungary passed a “Stop Soros” law.
- In the 1980s, Soros funded pro-Western activists in China and has continuously become a critic of Chinese Communist Party (CCP) actions.
- In 2022, the billionaire said that removing Chinese President Xi Jinping for someone “less repressive at home and more peaceful abroad” would “remove the greatest threat that open societies face today and they should do everything within their power to encourage China to move in the desired direction.”
BACKGROUND:
- American Faith reported that George Soros’ organization released plans to remove 40% of its staff.
- “The Board aims to transform operations across the global network, with the goal of generating a nimbler organization,” said the nonprofit’s president, Mark Malloch-Brown. “While Open Society works on these internal changes, the Board remains firmly committed to the Foundations’ core priorities — democracy, human rights, climate justice, and addressing inequity.”
