Stand up for the facts!
Our only agenda is to publish the truth so you can be an informed participant in democracy.
We need your help.
I would like to contribute
No evidence George Soros ‘going bankrupt,’ as a recent Facebook post claims
If Your Time is short
- We found no evidence that billionaire philanthropist George Soros is going bankrupt, as a recent social media post claims.
A recent Facebook post claims that billionaire philanthropist George Soros is in the red, but it provides no evidence that this is true.
"IT HAPPENED," the July 18 post says. "Elon Musk L.E.A.K.E.D_ GEORGE SOROS IS GOING B.A.N.K.R.U.P.T_, JOE BIDEN S.C.A.RED! - | BREAKING FOX NEWS BIDEN - JULY 19, 2023.
This post was flagged as part of Meta’s efforts to combat false news and misinformation on its News Feed. (Read more about our partnership with Meta, which owns Facebook and Instagram.)
According to Forbes, Soros was worth $6.7 billion as of July 20. We found no news reports that he’s heading into bankruptcy — or that Musk leaked this information.
A narrator in the Facebook post’s video says that "in a recent interview, Musk revealed a piece of information related to the existence of George Soros and his Open Society Foundation, which is on the verge of bankruptcy."
Sign up for PolitiFact texts
The narrator also refers to recent news that Soros’ nonprofit grant-making network, Open Society Foundations, plans to lay off 40% of its global staff as Soros hands over leadership tohis son, Alex Soros. The organization says it currently employs about 800 people around the world.
In a statement, Open Society Foundations said its new operating model is meant to maximize its grantmaking dollars, The Associated Press reported. The news outlet didn’t hint that neither the nonprofit nor Soros is on the verge of bankruptcy.
Featured Fact-check
Soros has already given $32 billion to the foundations and has indicated to The New York Times that his fortune will go to his family’s philanthropic efforts. Such a gesture hasn’t been highly regarded by Twitter owner Elon Musk, who recently tweeted that Soros "wants to erode the very fabric of civilization."
But we found no credible sources suggesting that Musk revealed the philanthropist is going bankrupt.
We rate that claim False.
Our Sources
Facebook post, July 18, 2023
The Associated Press, George Soros’ Open Society Foundations to lay off 40% of staff under son’s new leadership, July 6, 2023
The New York Times, George Soros Gives Control of His $25 Billion Foundation to His Son, June 12, 2023
Forbes, George Soros, updated July 20, 2023
Browse the Truth-O-Meter
More by Ciara O'Rourke
No evidence George Soros ‘going bankrupt,’ as a recent Facebook post claims
Support independent fact-checking.
Become a member!
In a world of wild talk and fake news, help us stand up for the facts.