Soros Foundation to Live On

Bloomberg Businessweek reports that the Soros foundation will live on:

Initially, Soros did not want his philanthropic foundations to survive him. “The fate of other institutions has taught me that they tend to stray very far from the founders’ intentions,” he wrote in the New York Review essay. He changed his mind, though, deciding that closing the foundations “would be an act of excessive selfishness.” Giving up philanthropy seems to be harder than backing away from managing other people’s money. “My success in the financial markets has given me a greater degree of independence than most other people. This obliges me to take stands on controversial issues when others cannot, and taking such positions has itself been a source of satisfaction.”