Soros Gives $50 Million To Charity For New York’s Poor

May 14 2009 | 10:34am ET

George Soros this week pledged $50 million to a charity that helps poor New Yorkers, with the caveat that the group raise three times that amount over the next two years.

The Soros Fund Management chief announced his gift at the Robin Hood Foundation’s gala fundraiser in New York this week. Robin Hood was founded two decades ago by Soros’ fellow hedge fund manager Paul Tudor Jones, and gives money to other groups that focus on homelessness and education in New York City.

Robin Hood raised $72.7 million at the gala.

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