Shipping magnate Paul Soros dies in NYC at 87

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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 in 1936 in response to growing anti-Semitism, 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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