The human rights activist, who is a notable backer of the European Union, called on the EU to accept more refugees and cover the cost of housing health care and education for each refugee for the first two years. 
The billionaire businessman was last week accused by Hungary's prime minister of deliberately encouraging the migration crisis.
Hungarian prime minister Viktor Orban claimed that activists like Mr Soros are partly to blame for the current crisis. 
He said: "This invasion is driven, on the one hand, by people smugglers, and on the other hand by those activists who supper everything that weakens the nation-state."
"This Western mindset and this activist network is perhaps best represented by George Soros." 
Mr Soros - a funder of pro-migration groups all over the world - released a statement in return to the comments, arguing his beliefs "uphold European values".
In the statement Mr Soros called on the EU to create a new border control, whereby it "has to accept at least a million asylum-seekers annually for the foreseeable future".
He said: "Adequate financing is critical. The EU should provide £10,000 (€15,000) per asylum-seeker for each of the first two years to help cover housing, health care, and education costs – and to make accepting refugees more appealing to member states."
Mr Soros also said that it is important to "place refugees where they want to go". 
In another email statement he said that the Hungarian prime minister's hardline stance on immigration undermines foundation's values.
According to Breitbart, he said: "His plan treats the protection of national borders as the objective and the refugees and an obstacle.
"Our plan treats the protection of refugees as the objective and national borders as the obstacle."

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