Last Updated Jan 24th, 2020 at 2:13 pm

Billionaire philanthropist and investor George Soros announced Thursday that he is donating $1 billion to fund a global network of universities to foster liberal values in an open society.

Speaking at the World Economic Forum in Davos, Switzerland, Soros said that his new initiative, the Open Society University Network, will serve as a catalyst to help resist the "drift towards growing authoritarianism."

Soros also criticized President Trump, calling him a "con man and the ultimate narcissist who wants the world to revolve around him."