George Soros is reportedly backing a campaign to stop Brexit

George Soros is reportedly backing a campaign to stop Brexit

George Soros, founder and chairman of the Open Society Foundations, arrives for a gathering in Brussels, on April 27, 2017.

Billionaire investor George Soros has given a whole lot of hundreds of kilos to a pro-European Union marketing campaign aimed toward stopping the U.Okay. leaving the political and financial bloc, based on media studies.

The Greatest for Britain marketing campaign, which advocates staying within the EU and stopping Brexit, has been given greater than £400,000 ($550,000) of funding by Soros’ Open Society Basis (OSF), based on The Guardian and The Telegraph newspapers.

Unnamed sources instructed The Guardian that the six-figure sum had been given to the marketing campaign by the OSF for the reason that June 2017 election. The Basis was not instantly obtainable for remark when contacted by CNBC.

The paper quoted the marketing campaign’s chairman, Lord Malloch-Brown, as stating that the inspiration had, “together with different main donors, additionally made important contributions to our work. Certainly, by way of his foundations he has contributed £400,000.”

In the meantime, The Telegraph — whose report was co-authored by Prime Minister Theresa Might’s former joint chief of employees — stated that Soros was one among three main donors to the marketing campaign. The newspaper stated it deliberate to launch a nationwide promoting marketing campaign this month, which the marketing campaign hoped would result in a second referendum which might probably preserve Britain within the EU.

Soros is famously referred to as the “man who broke the Financial institution of England” for betting towards the pound in 1992 on what turned referred to as “Black Wednesday,” forcing the British authorities to withdraw the foreign money from the European Trade Charge Mechanism.

Final 12 months, Soros prompt the U.Okay. could by no means depart the European Union if the bloc reforms itself whereas Brexit negotiations are going down.