Billionaire George Soros sold his entire stake in the chipmaker Arm Holdings (ARM)

Soros Fund Management, an investment firm established by the controversial billionaire investor George Soros, has recently made some significant changes, including the unexpected sale of a growing chipmaker. Soros uses the fund to support the Open Society Foundation‘s mission to promote transparency in government worldwide. According to the Billionaire Investors Report by CEOWORLD magazine, Soros is the 19th wealthiest investor globally, with an estimated personal fortune of approximately $6.7 billion.

Soros Fund Management, which had assets under management of about $5.26 billion as of the end of last year, has been attracting attention on Wall Street. The company filed its 13-F report late on Wednesday, which indicated that it sold its entire stake in Arm Holdings (ARM), a chipmaker owned by Japan’s SoftBank, sometime during the fourth quarter. During the third quarter, Soros Fund Management had built a 325,000-share stake in Arm, which was valued at roughly $17.4 million.

Cambridge, U.K.-based Arm Holdings recently made a Nasdaq listing, where it sold 95.5 million shares at $51 per share, raising approximately $4.87 billion. SoftBank still owns about 90.6% of Arm’s ordinary shares. Arm Holdings designs blueprint for chip-making and earns most of its revenue from royalty payments. It also sells semiconductors that support Nvidia’s (NVDA) AI-focused data-center chips.

Born in Hungary in 1930, George Soros studied at the London School of Economics and started his career working in British and American merchant banks. Soros became known as “The Man Who Broke the Bank of England” due to his short sale of $10 billion worth of pounds sterling, which made him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis. Soros has donated billions of dollars to various causes through the Open Society Foundations, founded in 1993, with branches in about 37 countries.

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