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Soros gives $1bn to fund universities 'and stop drift towards authoritarianism'
Philanthropist unveils plan for global network of institutions at Davos and attacks Trump as ‘ultimate narcissist’

Larry Elliott Economics editor

Thu 23 Jan 2020 21.57 GMTLast modified on Thu 23 Jan 2020 22.04 GMT

George Soros
George Soros said his project would be ‘a new and innovative educational network that the world really needs’. Photograph: Fabrice Coffrini/AFP via Getty Images
The philanthropist and former financier George Soros has announced that he is to donate $1bn to fund a new global network of universities designed to promote liberal values and his vision of an open society.

In what he hailed as the “most important and enduring project of my life”, Soros said it was important to fund institutions that would help resist the drift towards growing authoritarianism in the US, Russia and China. He also launched a fresh attack on Donald Trump, calling the US president “the ultimate narcissist”.

Soros, speaking at the World Economic Forum in Davos, said his new Open Society University Network would build on his Central European University, set up after the collapse of communism 30 years ago.

The CEU has been forced to move from Hungary to Vienna after Hungary’s rightwing leader, Viktor Orban, stripped it of the ability to issue US degrees.

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