PAUL Soros, a successful innovator in shipping, philanthropist and the older brother of billionaire financier George Soros, had died in New York City after a long bout with a host of illnesses. He was 87.

Soros, an engineer and businessman, founded Soros Associates, a world leader in the design and development of bulk handling and port facilities. The company has operations in 91 countries. Soros also held a number of patents and wrote more than 100 technical articles on the transport of materials and related shipping design issues.

"His genius, which was really reflected in his work, was really a function of seeing what everyone was seeing and finding new ways to solve interesting problems," said his son Peter Soros on Saturday announcing his death.

Soros also drew upon his own immigrant biography in establishing with his wife the Paul & Daisy Soros Fellowships for New Americans in 1997. The foundation's US$75 million endowment funds graduate education for immigrants and their children.

Soros was born Paul Schwartz in Hungary in 1926. His father changed the family name to Soros a decade later, in response to growing anti-Semitism.

Soros was a talented athlete who skied for the Hungarian national team.

"He was quite a good athlete and very much the gentleman athlete," said Peter Soros, noting his father broke his leg a few times and lost a kidney in a skiing accident. "He had a competitive spirit."