NEW YORK—Investor George Soros has transferred about $18 billion, the majority of his estimated fortune, to his Open Society Foundations, making them the second largest philanthropic grant-making group in the United States, according to media reports on Tuesday.
The foundations already controlled billions of dollars, but Soros, 87, has in recent years increased the pace of transfers from his hedge fund-turned-family office, Soros Fund Management LLC, the Wall Street Journal and the New York Times reported earlier on Tuesday, citing Open Society officials.
