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

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.

How much do you trust the information in this article?

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.

MORE FROM

Free skydiving and tattoos? 7 cool benefits you’ll wish your employer offered

Want your boss to pay you to go skydiving or let you work in Paris? Here are some of the most unusual but awesome employee perks you can get.

The 7 best deals in America

If you want to stretch your dollar to its maximum possible extent, check out these seven great deals.

What to know about Uber's $15 forgotten item fee

Uber alternatives are out there, which won't charge you a fee if you left behind or forgot something in the car — and need it back from the driver.

Tips that pay off: Figure out what to do with your life

Not sure what really makes you tick? Here's how to step back and customize the perfect career plan for yourself.

Can you save money on a home by buying a foreclosure? 5 things to know

Real estate-owned properties — those in foreclosure — can sell for 20% below market value. But proceed with caution, as many require extensive repairs that add to their total cost.

7 unconscious mistakes that make you waste money on food

Save money by becoming more self aware; stop sabotaging your food budget, and get back on track.

Free skydiving and tattoos? 7 cool benefits you’ll wish your employer offered

Want your boss to pay you to go skydiving or let you work in Paris? Here are some of the most unusual but awesome employee perks you can get.

The 7 best deals in America

If you want to stretch your dollar to its maximum possible extent, check out these seven great deals.

What to know about Uber's $15 forgotten item fee

Uber alternatives are out there, which won't charge you a fee if you left behind or forgot something in the car — and need it back from the driver.

Tips that pay off: Figure out what to do with your life

Not sure what really makes you tick? Here's how to step back and customize the perfect career plan for yourself.

Can you save money on a home by buying a foreclosure? 5 things to know

Real estate-owned properties — those in foreclosure — can sell for 20% below market value. But proceed with caution, as many require extensive repairs that add to their total cost.

7 unconscious mistakes that make you waste money on food

Save money by becoming more self aware; stop sabotaging your food budget, and get back on track.