World famous financier makes the move to transfer private cash into charity foundations

George Soros, the financier, is to give over £13.6 billion to charity.

The donation from the Hungarian-born billionaire will go to his Open Society Foundations, making it the world's third richest charity.

He intends to “leave the vast majority of his wealth to the Open Society Foundations,” the chief of the group’s strategic communications and public affairs Laura Silber said.

As the 29th richest man in the world, he has a net worth of more than $25 billion according to Forbes, and has reportedly been working on the transfer of the bulk of his cash into his charity foundations for several years.

Soros famously made his name – and wealth – betting against the pound ahead of the collapse of the Exchange Rate Mechanism under John Major.

Open Society works globally to “build vibrant and tolerant democracies” and has given away nearly $14bn since it was founded in 1979.

The charity has been accused of inciting so-called peaceful revolutions to install governments friendly to the US – from the Serbian 'Bulldozer Revolution' in 2000 to the Ukrainian uprising in 2013.

Soros’ foundations are said to be the most influential around the globe.