NEW YORK (AP) — Paul Soros, a successful innovator in shipping, philanthropist and the older brother of billionaire financier George Soros, died in New York City on Saturday after a long bout with a host of illnesses, said his son Peter Soros. He was 87.
Soros, an engineer and businessman, founded Soros Associates, a world leader in the design and development of bulk handling and port facilities. The company has operations in 91 countries. Soros also held a number of patents and wrote more than 100 technical articles on the transportation of materials and related shipping design issues.
"His genius, which was really reflected in his work, was really a function of seeing what everyone was seeing and finding new ways to solve interesting problems," said Peter Soros.
Soros also drew upon his own immigrant biography in establishing with his wife the Paul & Daisy Soros Fellowships for New Americans in 1997. The foundation's $75 million endowment funds graduate education for immigrants and the children of immigrants.
Soros was born Paul Schwartz in Hungary in 1926. His father changed the family name to Soros a decade later, in response to growing anti-Semitism.
Growing up, Soros was a talented athlete who skied for the Hungarian national team.
"He was quite a good athlete and very much the gentleman athlete," said Peter Soros, noting his father broke his leg a number of times and lost a kidney in a skiing accident. "He had a competitive spirit."