Dateline: Washington, D.C. – January 4, 2025
President Biden Awards George Soros the Presidential Medal of Freedom
In a ceremony held at the White House on January 4, 2025, President Joe Biden bestowed the Presidential Medal of Freedom, the nation’s highest civilian honor, upon George Soros, acknowledging his extensive contributions to philanthropy, finance, and the promotion of democratic values worldwide.
A Life Shaped by Adversity and Achievement
Born György Schwartz on August 12, 1930, in Budapest, Hungary, Soros experienced firsthand the horrors of the Nazi occupation during World War II, which led to the extermination of over 500,000 Hungarian Jews. His family survived by obtaining false identity documents and assisting others in doing the same. Reflecting on this period, Soros later remarked, “Instead of submitting to our fate, we resisted an evil force that was much stronger than we were—yet we prevailed.”
After the war, Soros moved to the United Kingdom in 1947, enrolling at the London School of Economics. Under the mentorship of philosopher Karl Popper, he earned both a Bachelor of Science and a Master of Science in Philosophy. To support himself during his studies, Soros worked as a railway porter and waiter.
Rise to Financial Prominence
Soros began his financial career at merchant banks in London before relocating to the United States in 1956. In 1969, he established his first hedge fund, Double Eagle, which laid the groundwork for the Quantum Fund. Under his guidance, the fund’s assets under management grew from $12 million at its inception to $25 billion by 2011.
Soros gained international notoriety in 1992 when he reportedly earned over $1 billion by short-selling the British pound, a move that earned him the moniker “the man who broke the Bank of England.
A Legacy of Philanthropy
Beyond his financial endeavors, Soros is renowned for his philanthropic efforts. In 1979, he began supporting scholarships for Black South Africans during apartheid. This initiative evolved into the Open Society Foundations (OSF), established in 1984, aimed at promoting democracy, human rights, and social reform globally. To date, Soros has donated over $32 billion to OSF, with $15 billion already distributed, representing 64% of his original fortune.
OSF has been instrumental in supporting civil society groups worldwide, focusing on issues such as freedom of expression, education, public health, and justice reform.
Controversies and Criticisms
Soros’s influence has not been without controversy. His funding of progressive causes and political campaigns has drawn criticism from various political groups. Notably, his support for criminal justice reforms and progressive district attorneys has been linked by critics to rising crime rates in certain areas.
Public Reaction to the Honor
The decision to award Soros the Presidential Medal of Freedom has elicited mixed reactions. Supporters commend his unwavering commitment to human rights and democracy, while detractors question the political implications of the honor. Steve Bannon, former advisor to President Donald Trump, labeled the award as “a national disgrace,” reflecting the polarized views surrounding Soros’s legacy.
A Continuing Influence
At 94, Soros remains an active figure in global philanthropy and finance. His son, Alex Soros, accepted the Presidential Medal of Freedom on his behalf, indicating the family’s ongoing commitment to the causes championed by Soros.
