Charles Feeney, Who Made a Fortune and Then Gave It Away, Dies at 92 (2024)

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Charles Feeney, Who Made a Fortune and Then Gave It Away, Dies at 92? ›

Charles Feeney, retail entrepreneur who gave $8 billion to charity, dies at 92. Charles Feeney, founder of the Atlantic Philanthropies, in San Francisco on Oct. 30, 2014. Charles “Chuck” Feeney, a retail entrepreneur and investor who amassed a multibillion-dollar fortune and then gave it all away, has died.

Chuck Feeney's decision to devote his wealth to philanthropy grew out of a deeply held belief that people of great means should use their wealth to address today's problems and make a difference now. He didn't just make a big gift to fund Atlantic and then leave the scene.

Feeney died in San Francisco on October 9, 2023, at age 92.

He succeeded, and then lived a more modest life. Charles F. Feeney, a pioneer of duty-free shops and a shrewd investor in technology start-ups who gave away nearly all of his $8 billion fortune to charity, much of it as quietly as he had made it, died on Monday in San Francisco. He was 92.

According to Mr O'Clery, his five children (four daughters and one son) have been left money through their mother, Mr Feeney's first wife. In the later part of his life, he lived in a two-bedroom apartment in San Francisco with his wife Helga, having travelled extensively to examine projects for potential donations.

Irish-American billionaire Chuck Feeney died this week at the age of 92. Born into a modest blue-collar family in New Jersey in 1931, Feeney co-founded the luxury travel retail group Duty Free Shoppers in 1960 and is known for giving away almost all of his $8 billion fortune during his lifetime.

In addition to funding libraries, he paid for thousands of church organs in the United States and around the world. Carnegie's wealth helped to establish numerous colleges, schools, nonprofit organizations and associations in his adopted country and many others.

Feeney chose to live the last three decades of his life frugally, his foundation said: He did not own a car or home, preferring to live in a rented apartment in San Francisco, according to the foundation.

Remembering Duty Free Founder Chuck Feeney, the Billionaire Who Inspired Warren Buffett | Inc.com.

Chuck Feeney: the Irish-American billionaire who gave his entire fortune away. Feeney engaged in similar transformative ventures in other countries, such as Australia, Vietnam, South Africa and the United States.

Who was the only trillionaire? ›

No individual has claimed the status of trillionaire just yet. But a net worth equal to at least one trillion in U.S. dollars or a similarly valued currency isn't unattainable, but it will be a couple of years yet. Only 18 countries have a GDP that exceeds that amount. The World Bank.

As of today, no billionaire is within striking distance of becoming a trillionaire. Elon Musk is, at present, the world's richest person, with a net worth of $206 billion, while Jeff Bezos is in the number two position with $179 billion, according to Bloomberg.

"Of the 21 individuals who stand a chance of reaching this phenomenal milestone in their lifetime, Elon Musk is predicted to be the first," said CEO Magazine.

Charles “Chuck” Feeney, who cofounded retailer Duty Free Shoppers, became a billionaire and donated much of his fortune anonymously—leading Forbes to dub him the James Bond of philanthropy—has died at age 92, according to his charitable foundation, The Atlantic Philanthropies.

Net worth: $2.2 billion

Turner's five kids won't get much when he passes. He's signed the Giving Pledge, writing in his letter that upon his death, “virtually all my wealth will have gone to charity.” Turner's kids will probably be all right with the decision, as they're involved with his charitable Turner Foundation.

Daniel Craig, Ashton Kutcher and more celebrity parents have decided not to leave their children with trust funds. “Isn't there an old adage that if you die a rich person, you've failed?” Craig told Candis in an August 2021 interview.

“Chuck” Feeney '56, founding chairman of The Atlantic Philanthropies, quietly devoted his fortune to worldwide causes, including nearly $1 billion through his foundation to Cornell.

This is because wealthy donors not only reduce their income tax obligations, but also capital gains, estate and gift taxes.

Chuck Feeney was born in 1931 in Elizabeth, New Jersey. His mother was a nurse, his father an insurance underwriter. Chuck—who shoveled snow and sold Christmas cards door-to-door as a child to make money—was the first of his Irish American family to go to university.

Bill Gates and Melinda French Gates have a lifetime giving of $42.5 billion, with a giving focus on health and poverty alleviation. They continue to co-chair the Bill & Melinda Gates Foundation despite their 2021 divorce, Forbes noted. Bill has a net worth of 125 billion, and Melinda's net worth is $10.6 billion.