George Soros is investing $500M in companies founded by migrants

Source: Getty Images
Source: Getty Images

If you were an obscenely rich philanthropist, how would you give a proverbial middle finger to Republican presidential nominee Donald Trump — who has proposed a "total and complete shutdown" on Muslims entering America and "a big, fat, beautiful wall" along the Mexican border?

Billionaire George Soros has one idea.

In a Wall Street Journal op-ed published Tuesday, Soros just announced he'll be investing $500 million in businesses and organizations created by migrants and refugees.

"Migrants are often forced into lives of idle despair, while host countries fail to reap the proven benefit that greater integration could bring," Soros wrote.

George Soros speaks during a televised Clinton Global Initiative event in July 2015.
Source: 
Mark Lennihan/AP

When it comes to addressing large inflows of migrants, a public policy overhaul is important but not enough, the business magnate wrote — the government needs to work with the private sector.

"Recognizing this, the Obama administration recently launched a 'Call to Action' asking U.S. companies to play a bigger role in meeting the challenges posed by forced migration," Soros said. "Today, private sector leaders are assembling at the United Nations to make concrete commitments to help solve the problem."

The pledged $500 million in investments is meant to help not just immigrants to the United States — but also their host communities, Soros said.

He also plans to invest in specific sectors like "emerging digital technology," which he said can help dislocated people "gain access more efficiently to government, legal, financial and health services."

Soros noted that his investment plan would be executed with the guidance of the International Rescue Committee and the United Nations' refugee agency, UNHCR.

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Natasha Noman

Natasha is a News Staff Writer covering global affairs. She previously reported on regional affairs from Pakistan. Natasha is based in New York and can be reached at natasha@mic.com.

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