Duty Free Empire or how millionaire used his profit.
Chuck Feeney: The Billionaire Who Is Trying To Go Broke
On a cool summer afternoon at Dublin’s Huston Station, Chuck Feeney, 81, gingerly stepped off a train on his journey back from the University of Limerick, a 12,000-student college he willed into existence with his vision, his influence and nearly $170 million in grants, and hobbled toward the turnstiles on sore knees. No commuter even glanced twice at the short New Jersey native, one hand holding a plastic bag of newspapers, the other grasping an iron fence for support. The man who arguably has done more for Ireland than anyone since Saint Patrick slowly limped out of the station completely unnoticed. And that’s just how Feeney likes it.
Chuck Feeney – is the James Bond of philanthropy.
Over the last 30 years he’s crisscrossed the globe conducting a clandestine operation to give away a $7.5 billion fortune derived from hawking cognac, perfume and cigarettes in his empire of …
Chuck Feeney’s foundation, the Atlantic Philanthropies, has funneled $6.2 billion into education, science, health care, aging and civil rights in the U.S., Australia, Vietnam, Bermuda, South Africa and Ireland. Few living people have given away more, and no one at his wealth level has ever given their fortune away so completely during their lifetime. The remaining $1.3 billion will be spent by 2016, and the foundation will be shuttered in 2020.
But the chief reason to admire Chuck Feeney is his announcement yesterday: that he is ending his charitable giving.
It’s not that Feeney has become stingy or uncaring.
The 81-year-old philanthropist is winding down his charitable foundation, The Atlantic Philanthropies, because he has largely fulfilled his promise to give away the bulk of his fortune during his lifetime. He called it “giving while living.”
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