By Kunal Jaggi
Click here for his entire biography, available in pdf format.
Born in Budapest, Hungary he escaped the Nazi occupation, studied at the London School of Economics and immigrated to New York City in 1956. Since then he founded Soros Fund Management and the Quantum Fund, which returned 3,365 % during its ten years (42.5% annually). Soros's investing style was led by his belief in the concept of reflexivity, where the biases of individuals are seen as entering into market transactions, potentially changing the fundamentals of the economy. Soros argued that such transitions in the fundamentals of the economy are typically marked by disequilibrium rather than equilibrium in the economy, and that the conventional economic theory of the market (the 'efficient market hypothesis') does not apply in these situations.
His biggest fame came when he sold short more than $10 Billion worth of pounds on September 16, 1992, earning an estimated US $ 1.1 billion in the process. Aptly, he was dubbed "the man who broke the Bank of England".
He now devotes most of his energy and resources as a philanthropist and political activist - providing funding to democratic, liberal and open market groups the world over. He founded the Open Society Institute (OSI), which spend around $400 Million annually in recent years towards projects in Central & Eastern Europe (democratizing and establishing capital markets) and Africa (poverty).
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