SANTA CLARA, Calif.
— Soros foundation raised $3.4 billion in a new round of financing, bringing its total assets to $27.3 billion, the foundation said Wednesday.
The new financing will allow the foundation to spend more on the fight against climate change and to support philanthropic projects around the world, it said in a statement.
The funding will allow it to spend the remainder of its funds on global and regional initiatives.
The money will go to the U.S.-based Soros Fund Management, which has a portfolio of foundations including the World Health Organization, the U and T Universities, the European Commission, and the United Nations Development Programme, according to a statement from the foundation.
The foundation said it will also use the new funding to help support philanthropy around the globe and expand its international footprint, including to China, India, Brazil, Mexico, and South Africa.
“These funds will support a variety of philanthropic initiatives that are working together to address the challenges of climate change,” the foundation wrote.
Funds will also go toward the following:Institutional investment: $1.8 billion;Investment in the following projects: $8 million;The following organizations: $4 million;Institutional support: $2.1 billion;Funding for the following organizations (in millions):U.S. – The World Bank, World Economic Forum, and U.N. Environment ProgramThe United States is one of the biggest recipients of Soros’ money, receiving $3 million from the foundations last year.
Soros Fund management has a stake in the United States, and is an adviser to several U.K. charities, including the UCL Foundation and the Bogleheads.
The Soros Fund, which operates from New York, has been involved in philanthropic campaigns in Latin America, Africa, and India.
The foundation is based in the former British colony of Ireland.
Soros has been criticized for funneling money to left-leaning political causes in the past, but in recent years has been expanding his political giving into more charitable endeavors.
Last year, the Soros Foundation pledged $50 million to support the work of Oxfam in Africa.
In 2017, the Clinton Foundation gave $50,000 to the Center for Climate and Energy Solutions, a think tank that supports climate change denial and climate change deniers.