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George Soros adds £100,000 to anti-Brexit campaign

George Soros is exerting all efforts to stop the breakaway of Britain from the European Union.



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).

George Soros

Soros has made investments lately amounting to hundred thousands of pounds to overturn the Brexit decision. (Photo by Heinrich-Böll-Stiftung via Flickr. CC BY-SA 2.0)

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.

(Featured image by Heinrich-Böll-Stiftung via Flickr. CC BY-SA 2.0)

Olivia McCall is passionate about education, women and children’s rights, and the environment. A long-time investor, she covers news about the latest stocks (lately marijuana and tech), IPOs and indices, and is always on the lookout for socially responsible startups. She also writes about the food sector, and has a keen interest on cryptocurrencies.