People who inspire us | part 3

Category: ,

Reactions: 

Chuck Feeney is probably someone you’ve never heard of and that’s the way he wants it. Described by Jim Dwyer in a New York Times article as “one of the most generous and secretive philanthropists of modern times”, Mr. Feeney lives frugally; he flies caoch, doesn't own a house and buys readymade suits.

Mr. Feeney, who made a fortune as founder of Duty Free Shoppers, the world's largest duty-free retail chain, transferred all of his wealth in 1987 to his foundation,
The Atlantic Philanthropies. Atlantic, which has around $4 billion in assets, gives away about $350 million a year.

Mr. Feeney chose and worked hard to keep the story of his fortune and his philanthropy out of the spotlight to the extent that he established Atlantic in Bermuda, to avoid disclosures required in the United States.

In the NYT article when asked why he had chosen to reveal himself now, Mr. Feeney replied “A lot of wealthy people, they don’t realize they have the alternatives of spending the money for good. If they knew it gives so much satisfaction, I wouldn’t have to persuade them.”

In a
radio interview on NPR, Feeney told guest host James Hattori that his foundation is also taking on a more public role after it became "synonymous with anonymous." At 76, Feeney says the time felt right to share his story.

"It's a time and tide thing. I'm not getting any younger, and I thought there would be some advantage to talking about giving while living," he says.

To know the full story of this extraordinary man, you could read his biography, The Billionaire Who Wasn't: How Chuck Feeney Secretly Made and Gave Away a Fortune, by Conor O'Clery.

Comments (2)

How can I contact Mr. Chuck Feeney?

Sorry, I have no way of contacting him. Maybe you could try emailing The Atlantic Philanthropies and request them to pass on your message.