Ashish Ranjan
The government today criticised billionaire philanthropist George Soros for his remarks criticising Prime Minister Narendra Modi and raising questions about Hindenburg Research’s research on the empire of entrepreneur Gautam Adani.
Here are the 10 Points that you should know
1.The philanthropist, 92 years old, is one of the wealthiest men in the world. According to the Encyclopedia Britannica, he was born into a rich Jewish family that fled Hungary (when he was 17) when the Nazis invaded. In 1947, they arrived in London, where Mr. Soros attended the London School of Economics to study philosophy.
2.After completing his education, he joined Singer & Friedlander, a London merchant bank. According to the Britannica, in 1956, Mr. Soros travelled to New York, where he began his career as an analyst of European securities.
3.After launching a hedge fund in 1973, Mr. Soros made his name in the financial world by making risky investments. He managed client funds between 1969 and 2011. According to Forbes, Mr. Soros shorted the British pound and made a $1 billion profit. According to the source, he became known as the guy who broke the Bank of England.
4.Bloomberg reported that Mr. Soros has a net worth of $8.5 billion and is the creator of the Open Society Foundations, which provides funds to organisations and individuals that promote democracy, openness, and free speech.
.Mr. Soros founded these foundations in Czechoslovakia, Poland, Russia, and Yugoslavia following the conclusion of the Cold War. These Open Society Foundations were engaged in over seventy nations at the turn of this century. Additionally, he has been politically active, supporting the presidential campaigns of Barack Obama, Hillary Clinton, and Joe Biden. Mr. Soros has spoken out against President Xi Jinping of China, former US President Donald Trump, and Recep Tayyip Erdogan of Turkey.
6.The remarks that have upset the administration were made by Mr. Soros in a speech prior to the Munich security conference. In reference to the ongoing Adani Group controversy, he stated that PM Modi “must face questions” from foreign investors and the Parliament about allegations of fraud and stock manipulation against the billionaire’s enterprises.
7.In addition, he stated that this will “seriously undermine Modi’s stronghold on India’s federal government” and pave the way for urgently required institutional reforms. “I may be foolish, but I anticipate a democratic resurgence in India.” “said Mr Soros.
8.Union minister Smriti Irani referred to it as a “attack on India that will not be accepted” and urged Indians to reply unifiedly to “foreign powers that attempt to interfere in India’s democratic processes.” “. In addition, she referred to the billionaire as a “certified economic war criminal.”
9.The opposition has criticised the BJP-led central administration, accusing it of favouritism and crony capitalism. They had even highlighted the issue during the legislative budget debate, seeking an investigation by a joint parliamentary committee. In an interview with the news agency ANI, Union Home Minister Amit Shah stated that “the BJP has nothing to conceal or be scared of.”
10.Since the January 24 report by US-based short-seller Hindenburg Research, which accused the ports-to-energy Adani Group of improper use of offshore tax havens and stock manipulation, shares in its seven companies have lost billions of dollars in market value. The Adani Group is controlled by billionaire Gautam Adani, one of the world’s richest people. Mr. Adani has categorically disputed the allegations, describing the reputational attack as “maliciously mischievous.”
