George Soros is ready to invest in companies started by migrants and refugees, including startups, existing businesses, and organizations that meet refugees’ unique needs, according to CNBC. He believes that private capital will help mitigate the global migration crisis, along with government assistance. President Obama has already urged private sector engagement and Soros is answering with millions. The money, up to $500 million, will come from Soros’ Open Society Foundations, with any profits from the investments going to the foundation’s existing refugee and migrant programs. These programs include ensuring refugees have adequate judicial protection and support for nonprofit organizations that monitor conditions at reception centers set up for asylum seekers.
Once a refugee himself, the billionaire philanthropist fled his native Hungary during the Nazi occupation. George Soros is in a unique position to understand what services refugees require, including interpreter services and medical care. The Open Society Foundations, according to the foundation’s website, also actively support NGOs that document the reality of migration and grassroots groups that show refugees how to advocate for themselves. Source: http://www.nytimes.com/topic/person/george-soros
Soros wrote an op-ed piece for the Wall Street Journal in which he expressed hope that his investments would encourage other private sector investment for the public good. Soros also indicated that he will work with the Office of the United Nations High Commissioner for Refugees and the International Rescue Committee to uncover appropriate investment opportunities on opensocietyfoundations.org. Also in the op-ed, Soros talks about how migrants are forced into idleness, while their hosts miss out on the benefits of integration.
George Soros is motivated to select successful investments since he wants to prove that private capital is a useful tool for helping displaced persons. He speaks of investment opportunities in digital technology that will assist migrants in finding legal and medical services. Considered one of the most successful investors of all time, Soros has a good chance of making more money for his Open Society Foundations’ own grant programs for NGOs that advocate for displaced persons.
With the United Nations estimate that 65 million people became refugees in 2015, with most coming from Somalia, Syria and Afghanistan, Soros shouldn’t have any difficulty finding suitable investment opportunities.