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At the 2016 Concordia Summit, billionaire George Soros, the Chairman and Founder of the Open Society Foundations, announced a pledge of $500 million to tackle the ongoing refugee crisis. This is his answer to President Barack Obama’s “call to action” for U.S. companies to play a bigger role in meeting global migration challenges.

Addressing the audience at the 2016 Concordia Summit, Soros revealed that alleviating the refugee crisis is one of his top priorities. For Soros the crisis is “the most pressing problem” facing the globe.

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