What is the legacy of George Soros

And again someone did it. The financial manager George Soros donates almost all of his fortune to his foundation. Before him, among others, Microsoft founder Bill Gates did this; Facebook boss Mark Zuckerberg at least announced it. They follow the philanthropic tradition in the USA, founded in 1889 by the steel tycoon Andrew Carnegie with the sentence: "The man who dies rich, dies in shame."

It is noticeable that many donors have acquired their wealth particularly robustly in the world's largest economic nation. To put it more unkindly: They are seen as rough legs who harass competitors, customers and others. It started with Andrew Carnegie. It continues with Bill Gates, whose corporation faced restraint proceedings. And it goes as far as Soros, who is accused of worsening currency crises with his speculations.

Better to give away the money than to waste it on luxury

Do such biographies make gentlemen bad founders? No. It is good that they give their money away instead of wasting it on luxuries or ruining heirs. The public does not have to attach a halo to them, but should see the person in all his facets.

Bad donation starts where billionaires try to enforce controversial opinions with their money and the power behind it. For example, the promotion of schools with the condition that they teach the creation story of the Bible in biology instead of Charles Darwin's theory of evolution. It is just as critical when the conservative Koch brothers in the US promote think tanks that campaign for tax cuts that benefit the Kochs most. Soros is not suspicious of such activities: his foundation promotes democracy, human rights and the protection of minorities worldwide; In other words, values ‚Äč‚Äčthat are generally valid.

Soros' billion gift also confirms a thesis that Soros himself shares: America's rich are taxed too low. US society is thus depriving itself of the means to act seriously socially. That's the dark side of all the great donor stories.