Let’s perform a simple thought experiment. If you were a billionaire, perhaps the 19th wealthiest person on earth, what would you do with your mountain of cash?
Now, it’s okay to say that you would live a lavish lifestyle at first. But it seems that life would get pretty boring when you have nothing left to achieve. After all, there is only so many different types of caviar that you can try.
So let’s think beyond that initial indulgence. What would you do with your wealth after you got use to the lavish lifestyle of being a billionaire? There are two pretty well-known billionaires on planet Earth that took very different paths when presented this question. One is the current president of the United States Donald Trump, and the other is 86-year-old hedge fund billionaire George Soros.
Donald Trump did not stay satisfied with his massive amount of money. It is easy to understand why. After all, he inherited his wealth from his father and did not build it on his own. In fact, studies show that Donald Trump would be a wealthier person today if he had simply invested his father’s money and indexed it to the stock market. It seems that his business dealings were mostly failures along the way, but he had the inherited wealth to withstand such failures.
Trump continued to grab for power. You could see it play out in his personal life when he bragged about assaulting women. And you can see it play out during the presidential election when he used authoritarian rhetoric and gradeschool putdowns to claim the White House. And it does not seem that he is too comfortable with running any of his ideas pass the legislature. His first 50 days in office has been rife with unilateral executive orders.
George Soros went the other way. Perhaps it is because the George Soros built his own fortune. He literally came from nothing and turned it into over $20 billion. And this all came after his Jewish family fled Budapest at the conclusion of World War II after surviving the Nazi occupation. Read more on Snopes about George Soros
The Soros family became a small group of refugees. The United Kingdom was nice enough to allow the men and they set up a new life in London where George Soros would attend college. He used his peculiar ability to forecast economic downturns to short the British pound in order to rake in $1 billion in a single day on the British stock markets.
He has been giving back ever since. His philanthropy knows no bounds and he gives back through a network of nonprofits under the umbrella of the Open Society Foundations. They work around the world to improve the lives of millions.