The Richest People In America: George Soros

#30 George Soros

$11.0 billion
Source: hedge funds

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 (nyse: SXE - news - people ) 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 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. Last summer made bearish bets; fund up 32% in 2007. Says U.S. on brink of prolonged recession after 25-year "superbubble." Has given away $6 billion since 1979 via Open Society Institute.

Complete List The Richest People In America

Related Posts by Category