Soros, George - Investment & Finance Definition
One of the world’s richest men and the president and chairman of his own hedge fund, Soros Fund Management. In December, 2002, he was convicted of insider trading by a French court and fined $2.3 million, which prosecutors said was the amount of his profit. His conviction stemmed from a plan to takeover SociÃ©tÃ© GÃ©nÃ©rale during 1987 when it was being privatized. The court ruled that Soros had access to inside information, though Soros said he would appeal his conviction.
Soros is well known for selling the British pound in the early 1990s when it became clear that it was overvalued. He is also notable for his philanthropy, which includes donating money to various educational and charitable enterprises, many of which are in Eastern Europe.