Shipping magnate and innovator Paul Soros dies

Paul Soros, a successful innovator in shipping, philanthropist and the older brother of billionaire financier George Soros, has died in New York aged 87.

His son Peter Soros said he died after a long bout with a host of illnesses. Paul Soros, an engineer and businessman, founded Soros Associates, a world leader in the design and development of bulk handling and port facilities with operations in 91 countries.

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He also held a number of patents and wrote more than 100 technical articles on the transportation of materials and related shipping design issues.

He was four years older than his brother, George, and the two became very close upon arriving in the US.

Paul Soros establishing with his wife the Paul & Daisy Soros Fellowships a $75m (£48m) endowment fund for graduate education for immigrants and their children.