Shipping magnate Paul Soros dies in NYC at 87

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Associated Press

Posted on June 16, 2013 at 11:00 AM

Updated Sunday, Jun 16 at 11:03 AM

NEW YORK (AP) — Paul Soros, a successful innovator in shipping and the older brother of billionaire financier George Soros, has died in New York City. He was 87.

Soros' son, Peter, says his father died early Saturday after a long bout with a host of illnesses, including cancer, diabetes and Parkinson's disease.

Paul Soros founded Soros Associates, a world leader in the design and development of bulk handling and port facilities with operations in 91 countries.

Soros was born Paul Schwartz in Hungary. His father changed the family name to Soros to avoid Nazi persecution, and Soros immigrated to the U.S. in 1948.

Soros and his wife established the Paul and Daisy Soros Fellowships for New Americans, which funds graduate education for immigrants and the children of immigrants.

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