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George Soros’s Foundation Pledges $130 Million in Coronavirus Relief
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George Soros’s Foundation Pledges $130 Million in Coronavirus Relief
The billionaire philanthropist is directing $37 million of the funds to programs to help at-risk populations in New York City.
George Soros said in a statement that the pandemic had “laid bare the fault lines and injustices of our world.”
George Soros said in a statement that the pandemic had “laid bare the fault lines and injustices of our world.”Credit...Lisi Niesner/Reuters
Shane Goldmacher
By Shane Goldmacher
April 16, 2020
George Soros, the billionaire philanthropist and liberal financier, is directing more than $130 million through his foundation to combat the effects of the coronavirus, with $37 million aimed to help at-risk populations in New York City, including undocumented families and low-wage workers.
Mr. Soros’s organization, Open Society Foundations, is making two large grants to nonprofits linked to the government of New York City, which is the epicenter of the coronavirus outbreak in the United States, with more than 10,000 deaths because of the virus.
The first grant will provide $20 million to create an Immigrant Emergency Relief Program in partnership with the city to provide direct, one-time payments to up to 20,000 immigrant families who are excluded from the federal relief program, including undocumented people. Individuals will receive $400 and families will get $1,000.
The fund will be managed by the Mayor’s Fund to Advance New York City, a nonprofit, and the city’s Mayor’s Office of Immigrant Affairs.
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“At this moment, we have to understand the human toll of this crisis and move some of our investment into direct humanitarian support,” Patrick Gaspard, the president of the Open Society Foundations, said in an interview.
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The foundation is providing $15 million to the nonprofit New York City Fund for Public Schools to support its efforts, including remote learning initiatives and centers to care for the children of workers on the front lines of the crisis. Another $2 million in funding includes grants to help the homeless and efforts to reduce the prison population, where the virus has spread aggressively.
Mr. Gaspard described the $130 million as only an “initial investment” from the foundation.
About half of that total is earmarked for the United States, and half to other countries. The foundation is contributing $12 million to relief funds in Atlanta, Chicago, Los Angeles, Philadelphia and Washington.
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The foundation is also giving $2 million to the Coronavirus Care Fund of the National Domestic Workers Alliance, which is supporting home-care workers whose jobs have vanished. Another $2.8 million is going to the foundation’s investment in a platform the alliance is using to help connect with gig workers who might otherwise fall through the cracks with service providers.
“The scale of this pandemic has laid bare the fault lines and injustices of our world,” Mr. Soros said in a statement. “We missed the opportunity to create a more just economy after the financial crisis of 2008 and provide a social safety net for the workers who are the heart of our societies.
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“Today, we must change direction and ask ourselves: What kind of world will emerge from this catastrophe, and what can we do to make it a better one?”
Mr. Soros joins a number of philanthropists around the world who have begun donating to causes related to the coronavirus crisis. Jeff Bezos, the founder of Amazon, has said he will give $100 million to American food banks.
Jack Dorsey, the chief executive and co-founder of Twitter, has said he is setting aside $1 billion for charity; $7 million has been distributed so far for coronavirus-related causes.
The Bill and Melinda Gates Foundation increased its pledge to $250 million for a variety of causes, including the search for a coronavirus vaccine and aid for African and South Asian countries.
Some of the $130 million from Mr. Soros’s foundation is going to causes the billionaire has previously championed, including $9 million to fight “mandatory imprisonment and detention around the world,” citing the vulnerability of imprisoned populations to the disease.
Mr. Gaspard acknowledged that the latest donations dovetailed with the policies the foundation had long pursued. “There is a sharp focus we are going to place on systemic reform,” he said, such as the fight to reduce incarceration rates.
“Right now, certain regimes in the world are exploiting the coronavirus in a way that thwarts democracy and open expression,” Mr. Gaspard said, adding that funds would be used to combat such efforts.
Shane Goldmacher is a national political reporter and was previously the chief political correspondent for the Metro Desk. Before joining The Times, he worked at Politico, where he covered national Republican politics and the 2016 presidential campaign. @ShaneGoldmacher
The Coronavirus Outbreak
Frequently Asked Questions and Advice
Updated April 11, 2020
What should I do if I feel sick?
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
When will this end?
This is a difficult question, because a lot depends on how well the virus is contained. A better question might be: “How will we know when to reopen the country?” In an American Enterprise Institute report, Scott Gottlieb, Caitlin Rivers, Mark B. McClellan, Lauren Silvis and Crystal Watson staked out four goal posts for recovery: Hospitals in the state must be able to safely treat all patients requiring hospitalization, without resorting to crisis standards of care; the state needs to be able to at least test everyone who has symptoms; the state is able to conduct monitoring of confirmed cases and contacts; and there must be a sustained reduction in cases for at least 14 days.
How can I help?
The Times Neediest Cases Fund has started a special campaign to help those who have been affected, which accepts donations here. Charity Navigator, which evaluates charities using a numbers-based system, has a running list of nonprofits working in communities affected by the outbreak. You can give blood through the American Red Cross, and World Central Kitchen has stepped in to distribute meals in major cities. More than 30,000 coronavirus-related GoFundMe fund-raisers have started in the past few weeks. (The sheer number of fund-raisers means more of them are likely to fail to meet their goal, though.)
Should I wear a mask?
The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.
How do I get tested?
If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.
How does coronavirus spread?
It seems to spread very easily from person to person, especially in homes, hospitals and other confined spaces. The pathogen can be carried on tiny respiratory droplets that fall as they are coughed or sneezed out. It may also be transmitted when we touch a contaminated surface and then touch our face.
Is there a vaccine yet?
No. Clinical trials are underway in the United States, China and Europe. But American officials and pharmaceutical executives have said that a vaccine remains at least 12 to 18 months away.
What makes this outbreak so different?
Unlike the flu, there is no known treatment or vaccine, and little is known about this particular virus so far. It seems to be more lethal than the flu, but the numbers are still uncertain. And it hits the elderly and those with underlying conditions — not just those with respiratory diseases — particularly hard.
What if somebody in my family gets sick?
If the family member doesn’t need hospitalization and can be cared for at home, you should help him or her with basic needs and monitor the symptoms, while also keeping as much distance as possible, according to guidelines issued by the C.D.C. If there’s space, the sick family member should stay in a separate room and use a separate bathroom. If masks are available, both the sick person and the caregiver should wear them when the caregiver enters the room. Make sure not to share any dishes or other household items and to regularly clean surfaces like counters, doorknobs, toilets and tables. Don’t forget to wash your hands frequently.
Should I stock up on groceries?
Plan two weeks of meals if possible. But people should not hoard food or supplies. Despite the empty shelves, the supply chain remains strong. And remember to wipe the handle of the grocery cart with a disinfecting wipe and wash your hands as soon as you get home.
Can I go to the park?
Yes, but make sure you keep six feet of distance between you and people who don’t live in your home. Even if you just hang out in a park, rather than go for a jog or a walk, getting some fresh air, and hopefully sunshine, is a good idea.
Should I pull my money from the markets?
That’s not a good idea. Even if you’re retired, having a balanced portfolio of stocks and bonds so that your money keeps up with inflation, or even grows, makes sense. But retirees may want to think about having enough cash set aside for a year’s worth of living expenses and big payments needed over the next five years.
What should I do with my 401(k)?
Watching your balance go up and down can be scary. You may be wondering if you should decrease your contributions — don’t! If your employer matches any part of your contributions, make sure you’re at least saving as much as you can to get that “free money.”
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