Chuck Feeney: The billionaire who gave it all away (2024)

  • Published

Chuck Feeney: The billionaire who gave it all away (1)Image source, Noah Berger

Becoming a billionaire would be, for most of us, the very apex of achievement - and a very unrealistic dream come true.

Chuck Feeney lived that dream but he wasn't content simply with becoming a billionaire - no, he set himself a further a goal.

To give away his entire multi-billion dollar fortune while he was still living.

The American businessman, who died in 2023, achieved that goal three years earlier at the age of 89, donating almost $9bn (£7bn) worldwide.

And through his private foundation the Atlantic Philanthropies, Mr Feeney, born to Irish-American parents, gave $570m (£447m) to causes in Northern Ireland over four decades.

Who is Chuck Feeney?

Charles F Feeney was born in Elizabeth, New Jersey in 1931, during the Great Depression.

His mother worked as a hospital nurse and his father was an insurance underwriter.

The philanthropist traces his family history back to County Fermanagh, where his grandmother was brought up close to the village of Kinawley.

The entrepreneur made his money selling luxury duty free goods to travellers across the world, but he rejected the trappings of wealth himself.

Conor O'Clery, who wrote a biography of Mr Feeney, said: "He read and was very impressed by Carnegie's famous essay 'Wealth', which says such things as 'to die rich is to die disgraced'."

He went on to found the Atlantic Philanthropies, external in 1982, an international organisation set up to distribute his fortune to good causes and projects that he supported around the world.

The foundation's main areas of interest were health, education, reconciliation and human rights.

Image source, Getty Images

For the first 15 years of his philanthropic mission, Mr Feeney donated money in secret leading to him being dubbed the James Bond of philanthropy, only emerging from anonymity in 1997.

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.

NI's 'big bets'

Queens University Belfast (QUB) was one of the biggest beneficiaries of Mr Feeney's grants from 1993-2015, being gifted a total of $132m (£83m).

It also received the single biggest donation from the Atlantic Philanthropies, when it was gifted $24m (£15m) in 2012.

It was for the university's Institute of Health Sciences Centre for Experimental Medicine.

Image source, Reuters

Nathalie Trott, from Queen's, said the grants had "changed the lives" of students and provided the university with "state-of-the-art facilities".

"The doors of the Atlantic Philanthropies may have closed in Belfast, but Chuck Feeney's legacy will live on for generations."

Integrated education

Another cornerstone of Mr Feeney's philanthropy in Northern Ireland has been the promotion of integrated education in the pursuit of reconciliation and peace building.

Down through the decades, it is understood about £8m has been gifted to the Integrated Education Fund for various projects and the area is listed as the first sector funded in Northern Ireland by the Atlantic Philanthropies back in 1991.

One of the schools that benefitted from hundreds of thousands of pounds is Rowandale Integrated Primary School in Moira, County Down.

Principal Frances Hughes said Rowandale would not be in existence today without Atlantic Philanthropies' support.

Image source, Rowandale IPS

"In 2007, when the school opened, enrolment began with 18 children and this year we have an enrolment of over 300," she said.

"The pupils here would have had absolutely no idea [about Chuck Feeney's role] - I would love to tell them that story though and I think they would really enjoy it."

Since 1996, when the Integrated Education Fund received its first grant from the Atlantic Philanthropies, there were a total of 33 integrated schools, which had risen to 62 by the time the funding drew to a close in 2014.

The money has helped establish 21 integrated primary and eight secondary-level schools, and in those 18 years, pupil numbers overall have risen from 7,000 to 22,000.

Image source, Noah Berger

Christopher Oechsli, president of the Atlantic Philanthropies, said it was "an honour" to support so many projects in Northern Ireland since first beginning its operations here in 1991.

"It's heartening to see the progress made and the way groups Atlantic supported continue to drive change in these challenging times," he said.

"That's the legacy."

This article was first published in September 2020 and has since been updated to reflect Mr Feeney's death in October 2023.

Related Topics

  • Northern Ireland
  • Queen's University Belfast
Chuck Feeney: The billionaire who gave it all away (2024)

FAQs

Did Chuck Feeney give away all his money? ›

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.

How much did Chuck Feeney give to UL? ›

Through Atlantic Philanthropies Chuck Feeney gifted in the region of €150m to the UL Foundation, which has been transformational to the campus, the city and wider region. He was the catalyst behind the establishment of the ULF in 1989 and was a long-time Foundation Board Member.

How billionaire Chuck Feeney achieves goal of giving away his fortune? ›

Duty-free shops innovator Chuck Feeney died this week at the age of 92. He achieved his goal of giving away most of his $8 billion fortune three years ago. He lived a frugal lifestyle, flying economy, driving a secondhand car, and renting his apartment.

What is the billionaire giving away their fortunes? ›

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.

What billionaire gives everything away? ›

Chuck Feeney lived that dream but he wasn't content simply with becoming a billionaire - no, he set himself a further a goal. To give away his entire multi-billion dollar fortune while he was still living.

Who has given away the most money to charity? ›

In dollar terms, though, Berkshire Hathaway's Warren Buffett takes the title of the U.S.' most generous person—he's donated an estimated $55 billion, mainly to the Bill & Melinda Gates Foundation, as well as four charities set up by Buffett's three children and his late wife.

Who is the most charitable billionaire? ›

1. Warren Buffett. Buffett has promised to donate more than 99% of his wealth.

How much money did Chuck Feeney leave his children? ›

Chuck Feeney

Once worth $8 billion, Feeney is now down to his last $2 million, less than 0.001 percent of the amount he's given away, Business Insider reports. Though his children won't be seeing a dime of their inheritance, they're understanding of their father's goodwill.

How much did Chuck Feeney give to Cornell? ›

Cornell Chronicle

Charles F. “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.

Why do billionaires donate so much? ›

Wealthy donors receive the biggest tax breaks from philanthropic giving. Millions of U.S. donors give directly to local charities without any reduction in their taxes. Less than ten percent of households use the charitable deduction. Wealthy donors, in turn, receive most of the taxpayer subsidies for charitable giving.

What billionaire wanted to go broke? ›

Chuck Feeney
BornCharles Francis FeeneyApril 23, 1931 Elizabeth, New Jersey, U.S.
DiedOctober 9, 2023 (aged 92) San Francisco, California, U.S.
Resting placeGlasnevin Cemetery
CitizenshipIreland United States
4 more rows

What rich billionaire died? ›

Some larger than life personalities among the billionaire ranks died in 2023, including Jimmy Buffett, who turned his Margaritaville song into a lifestyle empire; cruise-ship-singer-turned-media mogul and Italian prime minister Silvio Berlusconi; and Charlie Munger, the straight-talking business partner of investing ...

Who is the world's biggest donor? ›

Rupert Hoogewerf, the chairman and chief researcher at Hurun, said, “Whilst American and European philanthropists may have dominated the thinking of philanthropy over the last century, Jamsetji Tata, founder of India's Tata Group is the world's biggest philanthropist.”

Who is the most generous person in the world? ›

Lifetime Giving: $46.1 billion. Buffett is likely the biggest philanthropist of all time thanks to his quest to give away more than 99% of his fortune.

How do the rich go broke? ›

Rich people who don't create a financial plan often set themselves up for failure. They not only fail to properly track and manage their income and expenses — they also fail to prepare for unexpected events that can drain their money in a hurry.

How much was Chuck Feeney worth? ›

That's how much Feeney earned through his empire of duty-free shops. By 2022, he was worth less than $2 million.

Where did Carnegie donate his money? ›

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.

How much money was donated to charity last year? ›

By the numbers: The total amount of charitable giving fell by 3.4% last year to $499.3 billion — a 10.5% decrease when adjusted for inflation, Giving USA found. Between the lines: Americans gave 1.7% of their personal disposable income to charity in 2022, the lowest level they had given since 1995.

Top Articles
Council Post: 15 Ways You Can Encourage Clients To Buy Without Turning Them Off
12 Simple Ways to Create Momentum in Your Day
AMC Theatre - Rent A Private Theatre (Up to 20 Guests) From $99+ (Select Theaters)
Mcgeorge Academic Calendar
13 Easy Ways to Get Level 99 in Every Skill on RuneScape (F2P)
Alan Miller Jewelers Oregon Ohio
Professor Qwertyson
When is streaming illegal? What you need to know about pirated content
THE 10 BEST River Retreats for 2024/2025
Lycoming County Docket Sheets
biBERK Business Insurance Provides Essential Insights on Liquor Store Risk Management and Insurance Considerations
Morgan Wallen Pnc Park Seating Chart
Seafood Bucket Cajun Style Seafood Restaurant in South Salt Lake - Restaurant menu and reviews
What Happened To Maxwell Laughlin
Wgu Admissions Login
Craigslist Malone New York
360 Tabc Answers
Juicy Deal D-Art
Laveen Modern Dentistry And Orthodontics Laveen Village Az
Jenna Ortega’s Height, Age, Net Worth & Biography
Little Rock Skipthegames
Wics News Springfield Il
Arlington Museum of Art to show shining, shimmering, splendid costumes from Disney Archives
CVS Health’s MinuteClinic Introduces New Virtual Care Offering
Cable Cove Whale Watching
Waters Funeral Home Vandalia Obituaries
2004 Honda Odyssey Firing Order
Isablove
Sam's Club Gas Price Hilliard
Spy School Secrets - Canada's History
Movies123.Pick
Aliciabibs
Pay Entergy Bill
Frommer's Philadelphia & the Amish Country (2007) (Frommer's Complete) - PDF Free Download
Easy Pigs in a Blanket Recipe - Emmandi's Kitchen
Craigs List Palm Springs
20 bank M&A deals with the largest target asset volume in 2023
Andrew Lee Torres
Lake Kingdom Moon 31
Bob And Jeff's Monticello Fl
Directions To The Closest Auto Parts Store
Former Employees
Hanco*ck County Ms Busted Newspaper
Funkin' on the Heights
RubberDucks Front Office
Worland Wy Directions
The Machine 2023 Showtimes Near Roxy Lebanon
DL381 Delta Air Lines Estado de vuelo Hoy y Historial 2024 | Trip.com
Upcoming Live Online Auctions - Online Hunting Auctions
Costco Tire Promo Code Michelin 2022
The Missile Is Eepy Origin
Electronics coupons, offers & promotions | The Los Angeles Times
Latest Posts
Article information

Author: Duane Harber

Last Updated:

Views: 6522

Rating: 4 / 5 (51 voted)

Reviews: 82% of readers found this page helpful

Author information

Name: Duane Harber

Birthday: 1999-10-17

Address: Apt. 404 9899 Magnolia Roads, Port Royceville, ID 78186

Phone: +186911129794335

Job: Human Hospitality Planner

Hobby: Listening to music, Orienteering, Knapping, Dance, Mountain biking, Fishing, Pottery

Introduction: My name is Duane Harber, I am a modern, clever, handsome, fair, agreeable, inexpensive, beautiful person who loves writing and wants to share my knowledge and understanding with you.