UIANTS OF FOLY
VISIONARY ENGINEER
Master Port BUILDER
TON sea R YEGIANTS OF PoLy
PAUL SOROS
i as
VISIONARY ENGINEER
Master Port BUILDER
PHILANTHROPISTINTRODUCTION *
i
Paul Soros at ages 14, 24
CUT Merete (oh
riumphing over extraordinary
challenges, overcoming daunting personal
and professional risks, achieving a place
among the world’s engineering visionaries—all
this defines Paul Sor
whose innovative port designs changed the
A mechanical engineer
transport of raw materials worldwide, his saga
started as a teenager in Budapest, Hungary,
where his accomplished family defied the terror
of Nazi persecution during World War II.
Then after the Communist takeover of
Hungary in 1947, Soros managed to defect
and eventually came to the United States.
Soros’ path to success was rocky and
unpredictable. He encountered personal
tragedies, including serious sports-related
injuries and the devastating loss of two
of
the 1950s. But Soros, a creative engineer and
is four children in separate accidents in
entrepreneur, had the abilities and fortitude to
overcome obstacles and challenges,
Founded in 1956, Soros’ engineering
firm, Soros Associates, was involved in the
engineering of ports in 90 countries, which
handle a third of the world’s bulk transports.
Later, after the company was sold, Soros
became an insightful and successful investor in
industrial and mining companies, working
with his younger brother, famed international
financier George Soros. Now, in semi-
retirement, Paul Soros is a compassionate
and inventive philanthropist who has given
generously to Polytechnic University, where he
earned his master’s in mechanical engineering
in 1950 and serves as a trustee.
“He's a big-piaure man,” explains
his brother George. “He goes to the core of
the matter and dispenses with the established
conventions. He thinks outside the box. He
and I both learned this from our father.”oros was born in 1926 in
Budapest to a prosperous and
cultivated family. His father,
Tivadar, was an attorney. Tivadar, an
officer in the Hungarian Army during
World War I, was captured by the
Russians in 1915 and sent to a
Siberian POW camp. He escaped
during the Russian revolution in 1917,
barely survived, enduring terrible
ordeals, including a near brush with
annibalism and was marooned in
Moscow until 1921
“My fathe
philosophy of life was formed by his
experience of survival in Russia,” wrote
whole value system and
Paul Soros in his unpublished auto-
biography, American (Con) Quest.“"He
was well-traveled, well-informed inter-
nationally, well-read, spoke German,
French, English and Russian, had great
judgment and knowledge of the
world. ..I consider myself (and my
brother) chiefly a product of our family
and especially our fathe
Tivadar was a nonconformist.
Although he was a savvy r, the
elder Soros preferred traveling, playing
sports, sitting in cafés, reading newspapers
and discussing art and politics with his
many friends rather than laboring behind
a desk. It has been said that World War I
sapped Tivadar's interest in material
success and stoked his love of living life
to the fullest. While the Soros brothers
possessed more driving ambition (a trait
BNC Catt ea eed
Pee OC RC a kL
“aePaul and George, 1934
probably passed down from their mother,
Bozsi), they absorbed their father's
inherent skepticism of society’s prevailing
assumptions. Tivadar taught his sons
to reject totalitarianism and to live
according to a humanistic moral code.
“My father believed that rules are not
necessarily right, that by obeying the
rules of a totalitarian regime you could
get killed.” George Soros explains.
“He taught us to go against the rules
when they are wrong”
Paul Soros agrees: “We grew up with a
definite value system that had a strong
sense of noblesse oblige. That didn’t mean
you weren't supposed to have a good life,
but you had a responsibility toward your
fellow humans.”
Soros indeed grew up with all of the
upper middle-class privileges that Central
Europe of the 1920s and 30s had to
offer. He was one of the top junior
tennis players and one of his country’
finest skiers, Summers were spent at the
family’s Bauhaus-style summer home
on Lupa Island, north of Budapest on
the Danube. Soros was interested in
how things work and how they were
designed. He was good in mathematics
and wanted a profession usable inter-
nationally, if necessary. Engineering
seemed to be a natural choice.
Then his comfortable life was
shattered.Nav 4
INVASION
RUSSIAN
OCCUPATION
oros considers the Holocaust
and his family’s successful efforts
to avoid deportation as Jews—and
certain death—as a defining experience.
He refers to his father’s autobiography,
Maskerado: Dancing Around Death in
Nazi Hungary, to explain their extra~
ordinary saga. Tivadar wrote his book in
Esperanto, an idealistic language created
to enable communication among people
from different nations and cultures. He
embraced the language as a response
to the nationalism and destruction he
x World War I
According to the book, published in
witnessed durir
2001 in the United States and a number
of other countries, Tivadar shed his
characteristic bonhomie and took
control of the family’s safety when the
Nazis entered Budapest in 1944. His
strategy was to borrow the identities of
Christians—friends, business associates
and others—and disperse his family
throughout Budapest under assumed
names. From March 1944 until the
Russians occupied Budapest in January
1945, the members of the Soros family
lived a profoundly precarious existence.
Their tactics included subterfuge, out-
right hiding, moving about with false
papers, always avoiding authorities
(both German and Hungarian). Often,
individual family members lived on their
ial ee
: 2“Thus I proposed to the men in
my row and next rows that we organ-
ize about a hundred people, preferably
more, and at the right location, at my
signal, we run away in all directions.
‘What could the guards do? A few of
us could get shot, but 95 percent, or
maybe more, would be sure to get
away, because the guard’s main atten-
tion would be directed toward keepi
the rest of the column under control.”
Soros’ idea “went over like a lead
balloon.” No one wanted to risk
getting shot. Except Soros. He tried to
run and even managed to get halfway
across a fence when he caught sight
of a guard lifting his Kalishnikov
submachine gun. Soros ran back to
the column.
“After maybe another hour, the
highway came to a bridge over a small
stream,” he continued. “I knew that
after the bridge, there were no more
bridges, just open country. With snow
on the ground, there was no way to
get away or hide. At the bridge, the
guards had to come close to the
column, and this time I did not look.
“I saw a burned-out farmhouse
about 100 yards from the road, and I
simply made a run for it. 1 found a
wooden ladder to the attic, climbed
up, pulled up the ladder and started
eating the piece of bread I saved.
“Nothing happened for a few
minutes. Apparently I was not seen.
Then a dog came to the house and
started to bark. And it barked and
barked. A Russian came to investigate.
I heard him moving around. He
shouted, ‘Igyi suda’ (come here) and i
broken Hungarian, ‘Come. He moved
some furniture, trying to climb up to
the attic, but could not reach. He
swore and left.
“I watched the column pass forabout an hour. When it was gone, I
climbed down and walked to Budapest
by evening.”
Years later, Soros learned that young
Hungarians deported this way were held
in the Soviet Union as political hostages
to control a fragile post-war Hungarian
government. Of the 280,000 young men
taken, only about a third survived to be
returned to Hungary years later, after the
Communists took over.
On his own, without his father's
advice, Soros demonstrated his remark-
able ability to size up challenging—even
perilous—situations and take savvy risks
and actions. He could have passively
remained in line as the column trudged
toward the border. But he ran.
“People in the column preferred to
believe that we were going to a camp
where we would be checked out and
the non-Nazis let go,” he wrote. “My
judgment told me that this was like
going to Auschwitz. I just didn’t believe
the official line. True, I was aware of the
poor odds [on escaping], but I had a
pretty good assessment of things.
“Just as there was this expectation
that my father would rise to the occa-
sion, which he did during the war,
there was the same expectation with
us. It was always understood that
whatever life would bring, we would
respond accordingly.”
RECONSTRUCTION
At the end of the siege in January 1945,
Budapest was in ruins; there was no
government, no currency, no food, no
electricity; dead bodies were piled in the
shop windows of the ghetto. In the
absence of authority, it was laissez faire,
yet recovery to a survival level was
surprisingly fast
In 1946 and 1947, there were free
elections in which the Communists
and their allies could not achieve
majority. Soros was enrolled at a
technical university to study mechanical
engineering. It was an accelerated
program, to recover the semester lost
during the siege.
During his college years, Soros was a
member of the Hungarian National Ski
Team. He raced on the international
circuit for three seasons, traveling exten-
sively in Europe. As safety bindings had
not yet been invented, on different
occasions he broke his legs in seven
places. In high school, Soros had “souped
up” and bought and sold used motor-
cycles, activities he now resumed to
provide pocket money for trips.
‘Traveling out of the country for four
months a year to ski made keeping up at
the university a challenge. Soros had
breezed through high school, relying
Weg
Zirs, Austria,
1962
0ona good memory, but there was no
short-cut to mastering the material of
several semesters to pass comprehensive
examinations. Looking back on those
years, Soros recalls the university with a
mixture of distaste and pride. A European
education, he says, imparted discipline
and helped him master the ability to
concentrate his efforts.
“In the United States, graduate school
was a snap,” he wrote. “It was learning
made easy. There is no question I would.
wish for my grandchildren the US.-
and not the Budapest-style university
experience. And yet... .if one judges
school on the basis of how well it
prepares a young person for life, the
Budapest-type experience is superior.
“After the Communist takeover in
1947, as an engineer and a ski champion,
I was in a relatively privileged position.
But eventually I would be considered a
class enemy, even if I could keep my nose
clean and my mouth shut. As for myself,
T hated the totalitarian system too much
to even consider becoming an oppor-
tunist. Thus if I did not want to waste my
life, I had to get out?”
Soros planned his escape in 1947.
He would defect as a member of the
Hungarian ski team at the 1948 Winter
Olympics in Switzerland, Soros, however,
could not compete because of an
unhealed injury, which he had to hide
to effect his escape. He packed one
suitcase, said goodbye to his family
and girlfriend and boarded the Arlburg
Express ahead of the team—a schedule
that would be difficult to explain if
someone stopped him at the border.
Soon, he was out of Hungary and in
Salzburg, in the American-occupied zone
of Austria. It was an extraordinarily tense
time, filled with sadness at leaving his
family and country, and fear of being
taken off the train at the border.
He was not to see his parents again
until they, too, fled Hungary after the
Revolution in 1956. George was luckier:
He had left Hungary in 1946 and was
safe in an English boarding school, even
though he was cut off from further
financial support from home.
“The months of worry and the
feeling of being trapped must have had a
deep impact,’ Soros wrote. “For years,
I had a nightmare dream in which I
went back to Hungary on a visit for
some reason and was trapped with no
way out. I found out that this type of
dream was not uncommon for people
with similar experiences. It was more
than 10 years later, in the United States,
before I stopped having this dream.”
During 1948, Soros, who also excelled
at tennis, lived modestly but had a good
time as a star on the Austrian tennis
scene. At the end of 1948, with help
from his father’s contacts, he received
a student visa from the U.S. embassy
in Vienna.
Amateur tennis, New Canaan, Conn.
1960POLYTECHNIC &
A NEW LIFE
ial
UNITED STATES
oros was 22 years old and nearly
penniless when he debarked from a
former American troop ship at a
pier in midtown Manhattan. “I had $17
and a Leica and a Contax camera,” he
wrote. “Maybe I should have been, but I
was not worried; hardly even concerned
After my experiences during the war,
where it really was life-and-death stake:
I felt that once I was out of Hungary,
my life was not in danger, so how tough
an it be. Finally arriving in the United
States was an accomplishment involving
such risks and struggles that, once in the
states, it could be only much easier
To this day, I think that the most
serious challenges were behind me at
After staying for a week with old
friends of his parents, Soros realized they
could not afford to provide him room
and board. He went to the New York
Public Library to look up the colleges
with ski teams and write to them asking
for an athletic scholarship. The best offe
was from St. Lawrence University in
upstate Canton, N.Y. He was to be a
guest of a different frat house every
month, get pocket money, take any
course free and ski with the team as
course setter and forerunner, This time,
oros suffered the first of several sport
related injuries that have imperiled his“The room did not do much for me
and I led a very lonely existence,” he
says. “I usually went to Bronxville, N.Y.
for the weekends to stay with family
friends. Otherwise, I hardly had a
chance to talk to anybody, as my
fellow students were all working and
taking only one course, or at most,
two. Thus there was little chance to
establish contact.”The second semester
he moved to International House in
upper Manhattan, at a special rent of
$4 a week, and his life became much
more pleasant.
Classes were easy compared with
the rigors of the Hungarian university
system, confirming his expectation
that life in America would prove far
easier than survival in Eastern Europe.
Soros enjoyed classes in engineering
economics and vividly remembers
one teacher, a Professor Arias. Arias
counseled his students that if they
did not have a strong career path by
the age of 30, they would never be
successful. “Wise advice, I thought,”
Soros remembers.
Around this time, Soros met a tall,
vivacious Hungarian girl living at
International House. Daisy Schlenger
had arrived in the United States in 1950
to be a student at Columbia University.
She shared with Soros a youth disrupted
by hardship and war.
By Soros’ own admission, the
couple's first date was not a success.
Daisy was elegant, interested in people
and a charming extrovert who possessed
great style and exquisite manners.
Soros was an introvert, intellectual and
penniless, But Daisy remembers being
impressed. “My husband emphasizes
perseverance, sticking with things, the
right ideas and principles,” she says.
“He has a creative mind. He sees things
very clearly.”Hanging out with Daisy,
International House, 1951UCT eT Clogs a
Cambridge, 1955
MARRIAGE, FAMILY & CAREER
In 1950, Soros completed his master’s
thesis at Polytechnic. Its subject was
how utilities should best divide the
load between plants with different
efficiencies and characteristics. While
the theory behind this process was
well established, the calculations were
extremely cumbersome. So Soros
conceived, designed and built an
analog computer.
“With my industrial high school and
machine-shop background, it was easier
for me to conceive a solution based on
the...graphic representations of the
equations describing each power
plant’s behavior,” Soros wrote,
proud of his work. “It is too bad
that it was the digital computers,
not the analog ones, which took
over the world.”
After graduating, Soros could
land only a temporary job with
Drilled-In-Caisson Corp., a heavy-
foundation contractor, where he
remained for a year. After marrying
Daisy in 1951, he used his
language capability to get a job
as sales engineer in the export
department of Hewitt-Robins
Inc., an international manufacturer
of material-handling equipment,
at a salary of $400 a month. At
Hewitt-Robins, Soros learned the
fundamentals of sales, business and
material-handling engineering.
“One of the things I learned
was not to show that I was blessed
with a very good hand, as I could
be stuck all my life as a designer,”
explains Soros. “In a corporate set-
up,” he says, “financial rewards were
clearly in sales or management.”
In fact, Soros was doing well in
a corporate setting, doubling his
salary every two and a half years, but he
was frustrated because he could not see
how he would meet his own expecta-
tions. Hewitt-Robins valued him highly,
sending him around the world as a top
sales engineer. On one of these trips, to
South America, Soros’ life suddenly
brightened. A group of Hungarian
businessmen wanted to develop an iron-
ore mine in Chile and asked him to
design a screening plant—for a fee
of $2,800. It was the first time Soros
had $2,800. He was exhilarated. “With
$2,800 in the bank, I resigned from
Hewitt-Robins,” says Soros, “when
I got a disappointing $80-a-month
——raise.” The company came back with a
sweeter offer—$400 a month
The same year, Hewitt-Robins
offered him a major opportunity—to
move to Amsterdam and become
president of Hewitt-Robins Europe.
The position would nearly double his
salary and offer stock options. He, at
first, was gratified.
Yet, he was 30) years old and nagged
by knowing that he was near that
point of no return about which his
former Polytechnic instructor,
Professor Arias, had warned. He
concluded that in a free-enterprise
system it is better to employ executives
than to be one. In searching for
ways to become an entrepreneur
without capital or connections, he
recalled a conversation in Chile
a year earlier with the Hungarian
iron-ore miners, who needed an
ore-loading port but could not afford
its $4-million estimated cost. More as a
itr) Ce al ed)
multiple ship orientation,
Patagonia, Argentina, 1969
joke they had said to Soros, “Come
back to us, if you figure out a way
to do it for $1 million.”
Soros saw a need and applied the
old saying that necessity is the mother of
invention. He figured out how to save
the capital cost of a pier by tying the
ship to buoys and moving it in front of a
fixed conveyor. The Hungarians were
interested. Daisy was wholeheartedly
willing to face the uncertainty even
though the couple had only $1,500
in the bank. Soros surprised his
employer and resigned. He was now
on his own.
“Basically, I felt like when I had
the last chance to run away from the
Russian prisoner column,” he wrote.
“Not that being a big shot in Europe
was a hardship prospect, but I knew
if I did not try it, all my life it would
bug me, and I'd always ask, ‘What if?”
By now I had enough confidence
that if it did not work out, I couldalways fall back on becoming an
aspiring corporate executive.”
SOROS ASSOCIATES
“To my surprise, I now became very
interested in engineering,” Soros
wrote. “Heretofore, I had looked at
engineering as a skill that could help
me to get ahead in the world, But
now, when I was responsible for the
total results, instead of doing some
of the tasks that go into making
up the total, I became challenged
and fascinated.”
The first year, Soros, working out
of a playroom in his house, made the
drawings and typed the letters himself.
With no overhead, he cleared more than
double the salary of the presidency of
Hewitt-Robins Europe he had rejected.
More important, even before a port at
Huasco, Chile, was built, word spread
that he could build ports for less, and
he quickly got two more iron-ore
projects. The second year, the operation
continued in the playroom, but Soros
added a civil engineer and a secretary.
“Two basic ideas were driving Soros
Associates: that bulk ports could be
designed to create a better transport
system and that an organization
specializing in the design of bulk
ports could develop ports and terminals
that cost less and operate better.
Soros’ ideas were based on his
observation of bulk ports worldwide
during his trips for Hewitt-Robins. He
noticed large variations in the capital
cost of terminals that had similar
capacity and performance. This variation
was different from most other systems,
such as power plants, buildings and
bridges, where the unit cost
per megawatt, or per square
foot, or per span length vary
within a much smaller range.
Capital costs varied so
much because, according to
Soros’ analysis, building bulk
ports requires knowledge about
material handling and marine-
civil engineering. Material-
handling engineers, or the
companies that hire them, have
little interest or experience in
designing and building marine
structures (hence the cost), and
vice versa for port engineering
and construction companies.
The owners’ engineers,
however, must put the
project together, relying on
Loading a 250,000 DWT
ship at the rate of
16,000 tons per hour,
Tubarao, Brazil, 1972
aConstruction of an artificial
island transshipment terminal
for salt at the edge of the
Brazilian continental shelf
information from equipment
suppliers and from civil engi-
neers or contractors. Few
owners’ engineers have oppor-
tunities to do many port
projects and gain experience.
Having stumbled into the
engineering of bulk ports, Soros
became convinced it was a field
with great potential for a new
engineering specialty—if he
could only overcome the
resistance of owners to pay for
outside expertise in preference
over their own engineers.
To reduce capital costs at
Chilean iron-ore ports, ships
were tied to buoys rather than
to piers. Soros thought that the
same system could work in the
open sea, where waves would
create too much movement to allow a
ship to be tied to fixed structures
Soros presented technical papers
and published articles on this new type
of offhore terminal, pointing out that
while it could not work as many days
a year as a conventional protected
harbor, the cost of demurrage for lost
days at such a terminal could be
much less than the cost of capital for
conventional designs.
The first successful installation and
operation of this type of offshore
terminal was at the end of a mile-long
bridge off Port Latta on the stormy
coast of Tasmania near Australia. From
this point, Soros Associates became the
dominant source for this technology.
A different breakthrough occurred
when CVRD, the national mining
company of Brazil, engaged Soros
Associates to engineer the expansion
of the iron-ore port at Tubarao from an
annual capacity of 14-million tons to
24 million.
The largest ore carriers at the time
were 100,000-deadweight ton (DWT),
and the largest iron-ore port was a
U.S. Steel operation in Venezuela, with
an annual capacity of 18-million tons.
Soros submitted an unsolicited study on
how Brazil could become the world’s
No. 1 iron-ore producer if it could
match or lower transport costs to Japan,
the world’ largest importer, compared
with the shipping of Australian iron ore
in 100,000 DWT ore carriers. Soros
proposed to carry the ore to Japan in
250,000 DWT OBO (ore-bulk-oil)
ships, go a short leg in ballast to the
EEEPersian Gulf, carry oil to Rotterdam, in
the Netherlands, and go in ballast
another short leg to Tubarao. He also
proposed that Tubarao be designed for
an annual capacity of 100-million tons,
realized in stages, to match the theore-
tical capacity of the existing railroad.
Even though no such ships or
receiving ports existed, nor was there
proven technology for a 500 percent
increase in port capacity, Eliezer Batista,
chairman of CVRD, who became a life-
long professional friend of Paul Soros,
was a visionary and courageously gave
the go-ahead to Soros Associates. The
test is history: Brazil became the No. 1
iron-ore producer. Tubarao, with a
system capacity of 24,000 tons an hour,
worked like a charm, loading as much
as 83-million tons in a year. And the
world saw the construction of a namber
of high capacity bulk ports. Most of.
these were engineered by Soros
Associates, including the highest-
capacity installations for iron ore, coal,
bauxite and aluminum.
In the beginning, Soros did all the
engineering and also chased new
business. It soon became clear that
something had to give. Soros decided
to remain fully involved with engi-
neering and delegated marketing,
personnel, administration and finance
as much as possible. Soros’ engineering
imagination and creativity are reflected
in a steady stream of innovations and
firsts, the subjects of more than 100
technical articles.
The academic and professional
engineering community has long
recognized Soros’ contributions. From
1968 to 1990, his firm’s projects won
17 Engineering Excellence Awards in
annual competitions sponsored by the
Consulting Engineers Council and open
to all types of projects. In 2000, the
American Society of Mechanical
Engineers (ASME) awarded him the
coveted Henry Laurence Gantt Medal,
which honored his extraordinary
management contributions to the
engineering profession. In 1989, Soros
Associates received the Outstanding
Engineering Achievement Award from
the National Society of Professional
Engineers. And in 1983, ASME
lauded him with its Award of
Outstanding Materials Handling
Engineer for his accomplishments in
port development and systems for
handling bulk materials. In 2002, the
Commission on Independent Colleges
and Universities elected Soros to its
Hall of Distinction, which honors.
noteworthy alumni of private colleges
or universities in New York State. The
Department of Mechanical Engineering
at Polytechnic presented him with its
Outstanding Alumnus Award in 1996
and the University gave him its
Distinguished Alumnus Award
in 1997.
Soros Associates was sold in 1989
to Snamprogetti, a division of ENI,
owned by the Italian government.
When the chairmanship of Snamprogetti
changed, a well-connected but inept
Italian bureaucrat was put in charge
of Soros Associates and mistreated
and alienated company engineers
and important clients. Observing
the subsequent decline in the
company’s fortunes was one of the
most painful disappointments in
Soros’ business career.
Since selling Soros Associates, Soros
has maintained a busy life. Weekends
are usually spent in New Canaan,
Conn.; he and Daisy also have
residences in Manhattan, Nantucket
and Jamaica in the West Indies. They
travel frequently, ski and play golf and
CTactively participate in New York’s
cultural life. Their son Peter lives in
London and helps manage the family’s
investments. Their younger son, Jeffrey,
lives in Los Angeles and is a screen-
writer and philanthropist. Soros’ sons
each have two children, who are their
grandparents’ pride and joy. (Their first-
born, Stevie, died in a playground
accident when he was 18 months old.
Their daughter, Linda, died in an auto-
mobile accident, also at a young age.)
In his lifetime, Soros has had to deal
with personal injuries, including the
loss of an eye in a golfing accident and
complications from his earlier skiing
injuries. Now semi-retired, he works
out of his Manhattan office. Head of
Paul Soros Investments and on the
Advisory Board of Quantum Industrial
Holdings. Soros is mainly interested in
port, power and mining projects and
companies worldwide.
Soros has been a trustee of Poly-
technic University since 1977. “Poly is
BUT e a) ceo
Da CO er a C1}
Pete en
Western Canada, 1980a subway university,” he says. “It gives
the sons of janitors who possess a work
ethic a chance to move into the middle
class. That's a very necessary and worthy
institution. That's why I’m involved.”
Soros’ philanthropic emphasis at
Polytechnic has been to provide seed
money to develop plans that attract
other sources of support. In 1997, he
made a $525,000 seed grant to the
Department of Chemical Engineering,
Chemistry and Materials Science. The
fanding has encouraged new ideas and
provided resources that allowed the
department to compete successfully
for federal funding to create a National
Science Foundation Industry/University
Cooperative Research Center, He
also provided major support for
establishing a graduate program in
financial engineering.
Soros also conceived and under-
wrote Polytechnic’s Exec 21 graduate
program to prepare the next generation
of leaders in the construction industry.
The program embodies Soros’ belief
that the careers of engineers are often
limited by their knowledge of law,
finance and economics. He has attracted
top lawyers and leaders of industry
and Wall Street to serve as faculty in
the program.
“Paul Soros is a philanthropist in the
best sense of the term,” says Polytechnic
President David C. Chang. “He
genuinely cares about Polytechnic
University, our mission, our
programs and our students. And
he invests his money wisely:
contributing to excellence in a
way that fosters further innova-
tion and creativity. We are proud
to call him one of Poly’s own.”
Outside of Polytechnic,
Soros and Daisy serve on
behalf of a broad range of
philanthropies. Daisy is on
the boards of Lincoln Center,
New York Philharmonic,
Collegiate Chorale, Venetian
Heritage, International House
and Weill Cornell Medical
College and is a member of
the Executive Council of
Rockefeller University and of
the Society Board of Memorial
Sloan-Kettering Cancer Center.
The couple has also under-
written Lincoln Center's
popular “Midsummer Night
Swing” since 1993.
The Paul and Daisy Soros
Poster for Soros Fellowships
SE SVENEENWith grandchildren, Preston, 3'/2, Simon, 3'/2, Tommy, 2'/2, Sabrina, 2'/2,
Nantucket, 2001
Fellowships for New Americans,
established with a $50-million grant,
annually appoints 30 fellows, chosen
from more than 1,000 applicants, and
provides a stipend of $20,000 a year and
half the cost of graduate-school tuition
for two years. The selection is based on
talent, accomplishment and commit-
ment to the values of the U.S.
Constitution and Bill of Rights.
“This country would not be what
it is today without contributions from
immigrants,” Soros says. “The United
States has great opportunities. If you
have what it takes and are willing to
work, you will be a success.”
Soros is on the Executive Committee
of TechnoServe Inc., an organization
that helps the rural poor of the Third
World to lift themselves out of poverty
by their own efforts. A passionate civil
libertarian, Soros supports the American
Civil Liberties Union and People for the
American Way. He has served on the
Review Panel of the President's Office
of Science and Technology, was a delegate
to the U.S./Japan Natural Resources
Commission, served as a special U.N.
ambassador to Morocco and Jordan and
is a member of the Council on Foreign
Relations. In 1999, he received the
Fulbright Award for Contributions to
International Understanding.
Looking back at an adventurous life
that has encompassed a wide variety of
human experiences, Soros is certain that
he has chosen the right career. “‘I drifted
into something I enjoyed doing,” he says.
“And I was fortunate to have the
opportunity to do it. My story is riches
to rags to riches again. I was lucky to
survive. The rest was relatively easy.”
EEEPolytechnic
www.poly.edu
Writer: Peter West
Editor: Stuart Dim, Executive Director of Communications and External Relations
Art Director: Cenon Advincula