Skip To Content
Get Our Newsletter
JEWISH. INDEPENDENT. NONPROFIT.

Support the Forward

Funded by readers like you DonateSubscribe
Breaking News

Soros: Trump Is a ‘Would-Be Dictator’ Destined to Fail

(JTA) — Billionaire George Soros called Donald Trump a “would-be dictator” who is “going to fail.”

On the eve of Trump’s inauguration in Washington, Soros on Thursday said during a panel discussion in Davos, Switzerland, that President-elect Trump was “gearing up for a trade war,” which would have “a very far-reaching effect in Europe and other parts of the world,” Agence-France Presse reported Friday.

The “would-be dictator … didn’t expect to win, he was surprised,” the Hungarian-born Jewish financier told an audience of business leaders and journalists at a hotel in Davos where the World Economic Forum is being held.

“I personally have confidence that he’s going to fail… because his ideas that guide him are inherently self-contradictory,” said Soros, adding that members of Trump’s cabinet are each fighting for different interests.

But he predicted the loss of the United States’ “positive influence in the world in favor of an open society,” which would have “a very far-reaching effect in Europe and other parts of the world.”

Soros, who was a supporter of Trump’s Democratic rival Hillary Clinton during last year’s campaign, lost nearly a billion dollars as a consequence of the rally prompted by Trump’s surprise election victory, according to press reports. But the positive reaction in financial markets would not last long, Soros predicted, because ultimately they do not like uncertainty.

U.S. stocks retreated and the dollar fell against most currencies Thursday in the final session before Trump’s inauguration on Friday.

Soros also predicted the failure of British Prime Minister Theresa May, who last year replaced David Cameron following a referendum on whether Britain should stay in the European Union. Cameron who supported remaining, resigned after a majority voted in favor of a British exit, or Brexit, from the bloc.

Britton were “in denial” about the financial consequences of leaving the European Union, he said. “It’s unlikely that Prime Minister May is actually going to remain in power,” he added.

“The current economic situation is not as bad as it was predicted, they live in hope, but as the currency depreciates, and inflation will be the driving force, that will lead to declining living standards,” he said.

Engage

  • SHARE YOUR FEEDBACK

  • UPCOMING EVENT

Republish This Story

Please read before republishing

We’re happy to make this story available to republish for free under an Attribution-Non Commercial-No Derivatives Creative Commons license as long as you follow our republishing guidelines, which require that you credit Foward and retain our pixel. See our full guidelines for more information.

To republish, copy the HTML, which includes our tracking pixel, all paragraph styles and hyperlinks, the author byline, and credit to Foward. Have questions? Please email us at [email protected]

We don't support Internet Explorer

Please use Chrome, Safari, Firefox, or Edge to view this site.