The Man Who Broke the Bank of England

George Soros has an interesting life story. One of the things he is known for is being the man who broke the Bank of England when, with some colleagues, he shorted the British Pound to the tune of $10 Billion. (That means he was betting that the British Pound would go down.)

He recorded a one day profit of $1 Billion.

GeorgeSoros.jpgIf that wasn’t enough of a great story, consider this: The investment fund that he co-founded with Jim Rogers, The Quantum Fund, generated a 10 year return of 42.5% from 1970 to 1980. To put that into perspective, a one-time $10,000 investment would’ve turned into almost $350,000 in ten years.

George Soros is commonly cited as being one of the world’s greatest investors. He is now very much devoted to philanthropy and political activism – in fact he spent almost $24 million dollars trying to make sure George W. Bush was not re-elected for a second term.

He is currently the 80th Richest Person in the World (2007). 

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Preet Banerjee
Preet Banerjee an independent consultant to the financial services industry and a personal finance commentator. You can learn more about Preet at his personal website and you can click here to follow him on Twitter.
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