After Tim Walz, Alex Soros meets Bangladesh's Muhammad Yunus - what's the connection?

Muhammad Yunus, Bangladesh's interim leader, was seen with Alex Soros, son of Goerge Soros, earlier this week. Speaking about the meeting, later Soros posted, "Delighted to see an old friend of my father and the foundation, Nobel Prize winner @professormuhammadyunus, interim leader of Bangladesh, who stepped in to lead Bangladesh towards a peaceful future based on equity and fairness."

The relationship between Goerge Soros and Muhammad Yunus

Alex's father, Goerge Soros, and Muhammad Yunus go back a long way! The relationship between the two stem from a 1999 agreement when the Nobel Peace Prize-winning founder of Grameen Bank secured an $11 million loan from the Soros Economic Development Fund, managed by the Open Society Foundations. The loan allowed Grameen Telecom, a non-profit organization associated with Yunus' Grameen Bank, to secure a 35% ownership share in Grameenphone Ltd., the leading telecom company in Bangladesh.

With the money, Grameenphone made some crucial developments in it workings and eventually it emerged as a leading telecom company in Bangladesh. The loan was later repaid in full, and currently, Grameen Telecom maintains significant influence over Grameenphone.

Profits from this venture have been used to support social and welfare initiatives across Bangladesh. Yunus' collaboration with Soros is one of several global financial partnerships that have advanced his vision for microfinance and social business, though these alliances have faced criticism from his political adversaries.

The meeting that happened on October 2 grabbed eyeballs owing to current political climate of the country. Alex Soros recently drew attention when he met with Democratic vice presidential nominee Tim Walz.

Alex Soros, son of philanthropist George Soros, grew up around social activism. He studied at New York University and UC Berkeley, later following in his father's footsteps in charity work. In 2023, Alex took charge of the $25 billion Open Society Foundations, focusing on democracy, human rights, and climate issues.