George Soros to fund Open Society University Network

Joanna Estrada
January 24, 2020

"Facebook basically has only one guiding principle: maximize your profits irrespective of what harm it may do to the world", Soros said.

Soros described Trump as a "con man and the ultimate narcissist who wants the world to revolve around him", accusing the USA leader of wanting to "impose his alternative reality not only on his followers but on reality itself".

And he said China's President Xi Jin Ping was using technology to exert total control over Chinese life.

Addressing the World Economic Forum in Davos, Soros, an advocate for global cooperation, said the "biggest and most frightening setback" was in India. He said that the "biggest and most frightening setback" of nationalism was in India.

"The world would be a better place if they weren't in power", Mr Soros said.

"Both [leaders] try to extend the powers of their office to its limit and beyond".

On US-China relations he said, "Trump "is willing to sacrifice the national interests for his personal interests and he will do practically anything to win re-election". Last year, the philanthropist warned of the "mortal danger" of China's use of artificial intelligence to repress its citizens under the leadership of Xi, whom he called the most unsafe opponent of democracies.

The White House was approached for comment.

"Trump has managed to overheat an already buoyant economy. An overheated economy can't be kept at the boiling point for too long", warned Soros, credited with correctly predicting major market swings in his career as an investor.

But it is his philanthropic and political activities that have made him a divisive figure in the US, Europe and beyond.

Soros has regularly criticized Facebook over the years, so much that in 2018 Facebook chief operating officer Sheryl Sandberg directed staff to research whether Soros had a financial interest in attacking Facebook. He seeks to expand the network into something "truly global" in the coming years.

The billionaire was also accused of financing the Central American migrant caravans on the southern U.S. border and has repeatedly been criticised by Hungary's Prime Minister Viktor Orban for promoting increased migration to Europe and Hungary in particular, and thus putting "national security at risk".

Mr Orban's populist nationalist government claims Mr Soros has a secret plot to flood Hungary with migrants and destroy the nation, an accusation Mr Soros denies.

The activist, who is the founder of the Open Society Foundations, also pledged to invest $1 billion in the Open Society University Network that would promote liberal values worldwide and potentially be built around Bard College in northern New York City and Soros's Central European University, calling the initiative "the most important and enduring project" of his life.

Other reports by Click Lancashire

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