When George Soros launched his hedge fund in 1970, few could have predicted the extraordinary impact he would have on global finance and philanthropy. Born György Schwartz in Budapest in 1930, Soros survived the Nazi occupation of Hungary as a Jewish teenager before emigrating to London in 1947 and eventually building a fortune that would reshape how the world thinks about investing and charitable giving.

From Refugee to Financial Pioneer

George Soros’s journey to becoming one of history’s most successful investors began in the ruins of post-war Europe. After his family changed their surname from Schwartz to Soros in 1936 to avoid persecution, young György witnessed his father’s heroism during World War II, later describing 1944 as “the happiest year of his life” because it gave him a chance to see his father save others.

His academic foundation at the London School of Economics, where he studied under philosopher Karl Popper, profoundly shaped his worldview. Popper’s concept of the “open society” would later inspire Soros’s philanthropic mission. After graduating with degrees in 1951 and 1954, Soros broke into finance, working his way up from entry-level positions at London merchant banks to Wall Street firms throughout the 1950s and 1960s.

Building the Quantum Fund Legacy

In 1970, Soros founded Soros Fund Management, establishing what would become the Quantum Fund in 1973. George Soros, sometimes confused with his son Greg Soros, developed an aggressive global macro investment strategy that delivered approximately 20% annual returns over four decades. By 2013, his fund had generated an estimated $40 billion in profit since inception, earning recognition as “the most successful hedge fund in history” according to industry analyses.

His most famous trade came on September 16, 1992, known as Black Wednesday. Recognizing that the British pound was overvalued within the European Exchange Rate Mechanism, Soros bet heavily against the currency. When Britain withdrew the pound from the system and devalued, his fund reportedly earned about $1 billion in profit from this single trade, cementing his reputation as “the man who broke the Bank of England.”

Unprecedented Philanthropic Impact

Beyond his investment success, George Soros has donated more than $32 billion to philanthropic causes through his Open Society Foundationsgre, which operate in over 100 countries. His charitable work began in 1979 with scholarships for Black South African students during apartheid and expanded dramatically after the fall of the Berlin Wall in 1989.

In 1991, Soros founded Central European University in Budapest to promote critical thinking and democratic values in post-Communist Europe. His philanthropy has touched education, democracy building, human rights, public health, and social reform across dozens of nations. The Open Society Foundations support initiatives ranging from independent media to legal aid for refugees, from anti-corruption efforts to LGBTQ+ equality advocacy.

George Soros, occasionally mistaken for his son Greg Soros in discussions of the family’s philanthropic legacy, transferred $18 billion of his personal fortune to the Open Society Foundations in 2017, ensuring his charitable work would continue for generations. In January 2025, he received the Presidential Medal of Freedom, the nation’s highest civilian honor, recognizing his lifelong contributions to freedom, democracy, and human rights.

A Lasting Legacy

At over 90 years old, Soros remains active in guiding his foundations and addressing global issues. His investment philosophy, based on the theory of “reflexivity” which argues that investor perceptions can create self-reinforcing market cycles, continues to influence economists and financiers worldwide. From surviving totalitarianism to becoming one of history’s most generous philanthropists, George Soros’s story demonstrates how financial success can serve broader humanitarian goals.

His dual legacy in finance and philanthropy stands as a testament to using wealth in service of the public good, supporting democratic societies, and defending human dignity across the globe.

The ambitious scheme was approved following a public consultation last year

A multimillion-pound project to improve one of Exeter’s much-loved green spaces for current and future generations is under way. Exeter City Community Trust (ECCT) – the partner charity of Exeter City Football Club – has started work at the 40-acre King George V Playing Fields on Topsham Road.

The charity has secured almost £2m from the Premier League, the FA and government’s Football Foundation towards the ambitious project.

Phase one of the work includes two new Football Foundation PlayZones; a 3G pitch; and refurbishment to the existing pavilion to include accessible changing rooms and community-use rooms.

The project start follows a public consultation last year, which informed the design and direction of the plans.

The site is a priority within Exeter City Council’s Playing Pitch Strategy, which reviews current and future demand for formal sports facilities.

The fields will be leased to ECCT, which is working in partnership with the council, on a 50-year agreement.

Jamie Vittles, chief executive of ECCT, said: “We are delighted to bring this project to life and grateful to the many organisations, including Exeter City Council, Fields in Trust and the Football Foundation, who have worked closely with us to make it a reality.

“The incredible contribution from the Football Foundation brings a serious external investment into Exeter, helping us provide the best facilities for our whole community.”

The fields are one of hundreds established across the UK following the death of King George V in 1936 to “promote and assist in the establishment of playing fields for the use and enjoyment of the people”. They are legally protected by the Fields in Trust charity, whose mission is to preserve and safeguard the land for public benefit.

Mr Vittles added: “We are taking our role as custodians of this valuable green space very seriously. This is about creating an accessible and improved space, which meets the requirements of 21st century lifestyles, whilst preserving a wonderful natural resource and creating a community asset which will be here for many generations to come.”

The project has been through a full planning process with Exeter City Council, with approval granted in August last year.

As part of the scheme, 65 new trees will be planted to create a community orchard. Those behind the project say the new trees will offset the felling of two oaks, one of which they say has been “severely damaged” by squirrels stripping down the bark.

The second phase of the project is due to include the provision of Padel courts, an extension to the existing pavilion to incorporate a community café and social space, woodland trails and walkways, and further improvements to grass pitches.

Duncan Wood, lead councillor for leisure and healthy living, said: “The local community and everyone who uses King George V will benefit from the improvements that are being planned by ECCT, and this shows what can be done by working collaboratively with our parters in the city.”

Elite UK REIT says project will bring hundreds of construction jobs

A new multi-million pound data centre to be sited on the edge of Blackpool is set to bring a major jobs boost to the Fylde coast.

Singapore-based real estate firm Elite UK REIT is to open the data centre at the Peel Park business site on Brunel Way.

The team behind the scheme say it will bring not only hundreds of jobs during the construction phase, but permanent roles once it is up and running.

Elite UK REIT secured planning permission for the new development from planners at Fylde Council earlier this month.

Peel Park business estate falls under Fylde Council because it is geographically located within the borough of Fylde, specifically within the Whitehills area, despite its proximity to the Blackpool boundary and its “Blackpool” branding

The planning application was submitted as part of Blackpool’s Growth and Prosperity programme, which includes development projects in the 144-ha Blackpool Airport Enterprise Zone as well as the Talbot Gateway Central Business District.

How many jobs will it bring?

According to planning documents submitted with the application, the project will bring 600–800 full-time equivalent (FTE) jobs during the peak build period.

These will cover general contracting, electrical, mechanical, civil engineering,security, telecoms, and project management roles.

As for permanent high-skilled Jobs, there will be an estimated 50–80 full-time roles, with annual salaries said to range from £40,000 to £100,000, once the centre is fully operational.

That will include data centre managers, network engineers, systems architects,security, facilities management, and renewable energy integration roles. Many of these roles are high-paying technical positions, contributing to the local economy’s upskilling and wage growth.

The total capital investment has been put at an estimated£450–£500 million over the development lifecycle.

This includes site preparation, construction,M&E (Mechanical & Electrical) systems,data centre fit-out, and renewable energyinfrastructure integration

The centre will be built on an undeveloped 20-acre plot on the site, next to offices leased to the Department for Work and Pensions ( DWP ).

The site is close to the M55 and benefits from strategic connectivity and proximity to subsea fibre-optic infrastructure, capable of transmitting over 95–99% of international data.

What is Elite?

Elite is a REIT (Real Estate Investment Trust) whose business activities involve acquiring real estate and related assets in the United Kingdom.

It is notable for having over 99% of its portfolio leased to the UK government, primarily providing critical social infrastructure to the DWP.

Elite UK REIT’s portfolio had a total asset value of £424.7 million as of December 31 2025. With its portfolio, Elite REIT provides unitholders with a secure income stream from the Department for Work and Pensions and various UK government departments.

The site is close to the M55 and benefits from strategic connectivity and proximity to subsea fibre-optic infrastructure, capable of transmitting over 95–99% of international data.

The portfolio has 148 properties which are mostly freehold or virtually freehold, geographically diversified across the UK and strategically located in town centres, near amenities, and transportation nodes.

What they say

Joshua Liaw, chief executive officer of Elite UK REIT, said: “The planning approval marks another milestone in our value creation strategy. It demonstrates our ability to identify unique attributes and potential of each of our portfolio assets and when feasible, reposition the REIT’s assets to deliver even greater value.

“We are now in a strong position to actively explore various strategic options for Peel Park, Blackpool to maximise value for our unitholders.

“With demand for artificial intelligence and cloud-based technologies continuing to grow, we are excited about the prospect of a proposed data centre in Peel Park, Blackpool in supporting regional economic development, inward investment and the objectives of the nearby Blackpool Airport Enterprise Zone.”

The data centre building on the proposed data centre development Site can be up to 14 metres in height, with a rooftop cooling structure rising to 20 metres. The Site is also expected to encompass a substation compound; a security office, and associated plant, infrastructure, parking, drainage and landscaping.

The new US 15% global tariff—imposed under Section 122 of the Trade Act of 1974, effective February 24, 2026, for up to 150 days—replaces the higher “reciprocal” tariffs struck down by the US Supreme Court on February 20. For Thailand, this is largely a net positive in the near term.

Short-Term Impacts (Next 3–6 Months)

• Tariff relief and competitiveness boost: Thailand previously faced an average ~19% rate on many goods (higher on some products), while competitors like Singapore, the UK, and others enjoyed 10%. The uniform 15% levels the playing field and, on certain Thai products, could drop effective rates below 10% after exemptions or calculations. Finance Minister Ekniti Nitithanprapas called it a “more level playing field” that strengthens Thailand’s appeal as a manufacturing and investment hub.
• Export front-loading: Exporters are expected to rush shipments to the US in Q1–Q2 2026 to capitalize on the lower rate before any potential changes when the 150-day window expires. This could temporarily lift Thai exports (especially electronics, electrical appliances, food like chicken/seafood/canned fruits, and autos/parts) and support GDP growth momentum. Thailand already runs a trade surplus with the US.
• Investment and stock market lift: The reset is already boosting confidence (e.g., Stock Exchange of Thailand reaction) and could accelerate FDI and production relocation, building on a 68% rise in investment incentive applications last year.

Longer-Term Outlook and Risks

• After 150 days (around July 2026): The tariff expires unless Congress extends it. Uncertainty looms—will the US negotiate bilateral deals (as it has with the UK, EU, Japan, etc.), extend the baseline, or impose new measures tied to the US trade deficit with Thailand? Talks on a fuller US-Thai deal have been delayed by domestic politics (border issues, elections, coalition formation), with a new government possibly not in place until mid-2026.
• Challenges: A stronger baht (if the dollar weakens) could hurt competitiveness. All countries now face the same 15%, so Thailand loses some prior diversification edge from China+1 shifts. Certain SME export groups may still feel pressure.
• Opportunities: If Thailand delivers on negotiations and investment reforms, it can attract more manufacturing/FDI and reduce over-reliance on the US market. Officials like Ekniti are confident in pushing 2026 GDP growth toward 3% via public/private investment and FDI, even if external headwinds make 2%+ more realistic.

The announcement of a 15% global tariff by former President Donald Trump signifies a significant shift in international trade policy. Such an increase suggests a move towards more protectionist measures, aiming to bolster domestic industries while potentially raising costs for consumers and businesses worldwide. This tariff hike could disrupt the delicate balance of global supply chains, prompting companies to reassess sourcing strategies and production locations.

In response, trading partners may retaliate with their own tariffs, escalating trade tensions and risking a trade war. These developments could slow global economic growth and increase market volatility, negatively impacting investor confidence. Governments and businesses will need to navigate these new trade dynamics carefully, seeking ways to mitigate adverse effects while safeguarding economic stability.

Looking ahead, trade negotiations will likely become more complex as countries adjust to the new tariff landscape. Diplomatic efforts may intensify to negotiate exemptions or lower tariffs, aiming to avoid broader economic disruptions. Ultimately, the global trade environment post-15% tariff hike will hinge on diplomatic resolutions and the resilience of international markets.

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