Billionaire George Soros shelled out £100,000 to the pro-European Union (EU) advocacy group Best for Britain and said he is proud of it.
This news came a week after The Daily Telegraph reported that the Hungarian-American investor gave out £400,000 to fund a well-planned campaign to keep the United Kingdom in the EU. The report was co-authored by Prime Minister Theresa May’s former chief of staff, Nick Timothy.
The story was based on a document the news agency obtained, which recorded details of the meeting. Soros’ goal to overturn Brexit was made public after the billionaire was reported to meet six Conservatories at his Chelsea home.
The minutes revealed that the anti-Brexit campaign relied on the free promotion service through social media and has already identified its online managers. The campaign aimed to gather every sector possible from aviation to pharmaceuticals with a heavy push directed at the youth.
Aside from guerilla marketing strategies, the campaign was said to be laden with concerts and marches that will appeal to the younger generation.
Donating to the Open Society Foundation
Soros gained $1 billion for placing his bet against the pound, a move that forced the Bank of England to withdraw from the European Exchange Mechanism Rate. Ranked as the 29th richest man, Soros also made headlines for the donations he made for democracy-promoting foundations across Europe. He turned over a great deal of his wealth—about $18 billion—to his human rights organization, the Open Society Foundations (OSF).
The third biggest charity organization in terms of raised funds, the OSF operates in over 120 nations financing non-profit organizations that forge the fight for human rights, education and the free press, among other causes.
As such, the revelation of his massive donation to an anti-Brexit campaigner sparked criticisms and even attacks against his perceived abuse of power to alter the public’s psyche.
Believing Brexit would be bad for Britain, Soros said the donation is made out of his affection for Britain. “This process will change Britain and Europe from friends into foes, at least during the transitional period,” the billionaire said.
A deeper implication of Brexit
Soros forecasted a lackluster performance for the economic region as against other economies in Europe. He believes most people are voting based on their conditions with the current setup rather than delving deep into the consequences brought about by their votes. An attempt to change the wider sentiment, hence, poses an essential task for the billionaire investor.
The business magnate also raised concerns of a possible widening of the separation between the rich and the poor post-Brexit.
Soros hopes that a persuasive pro-EU campaign to suffice in altering the direction of the popular vote despite Theresa May upholding her position in the 2016 referendum vote. Brexit will surely take place next year, she has spoken.
Coming from 2015’s immigration levels rising more than threefold of the prime minister’s targets, May’s priority is to curb immigration after Brexit.
This Kevin Harrington-Endorsed Company’s Set to Soar in a Perfect Storm [RDE, Inc. | RSTN]
Right now, a perfect storm is brewing in the US economy, setting companies like Restaurant.com and CardCash.com [RDE, Inc. |...
Medical Microinstruments Raises an Impressive Amount of $110 Million
Thanks to its technology, surgeons will be able to perform anastomoses in very small vessels and nerves, with applications in...
Shimmer Airdrop Campaign a Success? The Interim Conclusion is Double-Edged
The results of Shimmer so far show little response and efficiency given the high costs for the advertising campaign. The...
Czech Republic Bans HHC: New Regulations Change the Market
The Czech Republic's decision to ban HHC highlights a growing global debate about how best to manage psychoactive substances. While...
Gotham Insists on Projecting Its Doubts on Grifols
This counterattack by Gotham comes weeks after Grifols has received accolades following the confirmation of the sale to Haier of...
Crypto2 weeks ago
New Possibilities in Crypto Trading: Bitpanda Introduces Leveraged Trading
Africa3 days ago
Global Economic Growth in 2024: Eleven African Countries in the Top 20, According to AfDB Report
Impact Investing1 week ago
Daze Closes a 15 Million Euro Capital Increase from CDP Venture and EIC-Fund
Mining & Energy23 hours ago
Argentina Lithium & Energy Leading the Charge as Demand for Argentine Lithium Grows