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October 11 2007
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Frugal Billionaire Plans to Give it All Away

In 1988, Forbes Magazine listed Chuck Feeney as the 23rd richest American, valued at $1.3 billion (more than both Rupert Murdoch and Donald Trump).

What they did not know was that Feeney had actually given most of his money away to charitable foundations years earlier, and continues to do so.

Feeney is one of the world’s biggest philanthropists, and he’s been giving his money away in secrecy until now.

Living by the motto, “I set out to work hard, not to get rich,” Feeney lives a frugal life (he does not own a house nor a car, flies economy class, and wears a $15 watch) according to the upbringing of his blue-collar Irish-American family.

Feeney made his fortune by co-founding Duty Free Shoppers (DFS), the world’s largest duty-free retail chain, but used its profits for the good of others.

"I had one idea that never changed in my mind -- that you should use your wealth to help people,” Feeney said.

And so he has, donating more than $4 billion, in 25 years, to fund schools, hospitals, universities, medical research, and human rights in the United States, Vietnam, Australia, South Africa, Thailand, and Cuba. Feeney is now in his mid 70s, and he plans to donate the rest of the fortune to The Atlantic Philanthropies, which he co-founded, in his lifetime.

"There are no pockets in a shroud,” he says.

This is an incredibly inspirational story that is a perfect example of how every person has the ability to change the world and contribute to the causes they believe in (even if it is on a much smaller scale).

We can all lead by example and give our time, money, and other resources to the things that really matter.

If you want to know more about the moving story of Chuck Feeney, check out the new book on his life written by journalist Conor O’Clery, The Billionaire Who Wasn‘t: How Chuck Feeney Secretly Made and Gave Away a Fortune.

MSNBC September 19, 2007


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Community Comments ( 51 )
Comment on this Article
  
  
Russ Bianchi
[ Joined on 09/06 ] [ Posted on September 24, 2007 ]
20 Points        
   
 
Savvy User
Moral & Ethical Practice By Example, At It's BEST!!!

"May the road rise with you Mr. Feeney, and the wind always be at your back, and may you be in Heaven, a half-hour before The Devil knows you are dead!"

Uncle Russ
 [ Reply ]
Mercola
  
CHESS1306
[ Joined on 10/07 ]  [ Posted on October 11, 2007]
-14 Points        
   
This user is BELOW novice level and all their comments need to be reviewed with great caution.
  Mercola

I do not understand this man at all, why do such a hateful thing to your investers?

Mercola
  
GeriS
[ Joined on 07/07 ]  [ Posted on October 14, 2007]
       
   
Novice User
  Mercola

How was giving away HIS SHARE hateful to anyone?  He spent his lifetime amassing it, it was his to do with as he wished.  He could have squandered it during his lifetime on fancy houses, yachts and thousand dollar shower curtains and no one would bat an eye.  Now, he's chosen to give away to colleges and universities and medical research facilities what HE EARNED because he never had a desire for a fancy lifestyle and you think he's done a hateful thing???  Give me a break!!!

  
  
Dee B
[ Joined on 06/06 ] [ Posted on October 11, 2007 ]
18 Points        
   
 
Novice User

All things in moderation.  Paul advised Timothy to have a little wine to help his stomach problems.  It probably did.   No one is qualified to judge another, and what we do will return to us in one way or another.

How about:  Whatever our circumstances; if we see a need, and it is within the power of our hands to provide that assistance; we just do it.  No fanfare, no publicity; just do it.   Believe me, it does make one content to know that we have rendered needed aid to another creature, human or animal.

 [ Reply ]
Mercola
  
Health 1
[ Joined on 03/07 ]  [ Posted on October 11, 2007]
       
   
Novice User
  Mercola

Well said Dee B.

Blessings

Dr. Trudy

Mercola
  
Mainmat
[ Joined on 10/07 ]  [ Posted on October 11, 2007]
       
   
Novice User
  Mercola

Wish I knew how to get ahold of him. A disabled vet facing foreclosure would probably be something he would be interested in.

  
  
themikeb
[ Joined on 02/07 ] [ Posted on October 11, 2007 ]
9 Points        
   
 
Apprentice User

Mr Feeney made his fortune and gave most away to help others

can any of us say that?

☻☻☻☻☻

We can be so bitter towards those who crawl out of the crab basket.

 [ Reply ]
Mercola
  
Health 1
[ Joined on 03/07 ]  [ Posted on October 11, 2007]
       
   
Novice User
  Mercola

I agree...why such a bitter and divided mind? Mr. Feeney may have had a change of heart. one does not know what exatly may have prompted such action(s), nevertheless he is making a difference in various lives of need.

I'm not so sure that we are in a position to analize and judge a genuinely helping heart? How he made his money in the past may well have influenced his decision(s)of the present.

Blessings

Dr. Trudy

Mercola
  
Pat Ormsby
[ Joined on 06/06 ]  [ Posted on October 14, 2007]
       
   
Savvy User
  Mercola

"We can be so bitter toward those who crawl out of the crab basket."

What an excellent way of stating it!!!  Mr. Feeney found the secret of true wealth.  It sounds like he discovered it early in life.

  
  
Magnolia
[ Joined on 06/06 ] [ Posted on September 25, 2007 ]
8 Points        
   
 
Savvy User
Health Man, DFS is not just duty free liquor. It is worldwide luxury shopping. Beautiful items, made affordable (sort of) to a wider clientele. That's not contributing to too many health problems unless the products are made in sweatshops.

In this country, once Uncle Sam has taken his cut, the money left over is ours to do with as we choose. Anonymous gifting is not new. It does, however, take away the pleasure from the recipient of being able to thank the giver.

Vociferum, no repentance needed here. Mr. Feeney has done no wrong.

May I have my Fendi bag, now? ;)
 [ Reply ]
  
  
Dex
[ Joined on 11/06 ] [ Posted on September 25, 2007 ]
7 Points        
   
 
Savvy User
Inspiring story. Thank you for sharing this article.
 [ Reply ]
  
  
The Flipster
[ Joined on 10/07 ] [ Posted on October 11, 2007 ]
5 Points        
   
 
Novice User

The US government works to destroy charity. In true socialistic style they're changing charity from a heartfelt desire to help others of your own free will into an obligation to be fulfilled by their own coercive efforts; taking by force from one to give to another. The more entitlements received the more people want, it's like an addiction. And it is an addiction that is poluting our country. Read this short article and make sure your charity goes somewhere worthwhile (which means withholding your support from many so called charitable contributions).

www.mind-trek.com/.../l10.htm

 [ Reply ]
Mercola
  
tertel
[ Joined on 10/07 ]  [ Posted on October 11, 2007]
       
   
Novice User
  Mercola

While I found some of this article useful and insightful, I also found much of it to be a bunch of malarkey!

I agree completely with the beginning premise about the deterioration of our countries morals and our fascination with crudity and decadence I disagree with his presumtion that it is the fault of "the welfare state". While there certainly are those who abuse the welfare system, as in any system; in no way does this invalidate the system itself. Their are also corporate crooks too who steal billions through illegal and immoral business practices, does this invalidate the capitilist system? No, not in itself. The writer states that in a free market system, "a foul mouthed boor would be fired" yet anyone who has ever worked knows this to be not true!

The idea that if one participates in the system then they will be rewarded is a great idea, but many peeple participate everyday but never get ahead, also many people choose to live outside the system and thrive doing so. Many of those people in the system will never get ahead becasue the system is geared to reward those on top and noone else. When CEOs make BILLIONS a year by allowing their companies to build shoddy products, by using substandard materials, by polluting our world, by paying their companies employees substandard wages, etc; then the system is broken and no amount of polemic posturing will ever convince me otherwise.

  
  
hpy2cusmile
[ Joined on 09/07 ] [ Posted on October 11, 2007 ]
4 Points        
   
 
Novice User

Ms Cote, too late to back peddle, ( let me guess, your a democrat?) but cudo's for the conciousness and accountablilty of the effort? I'm gonna look at the other heath sites to see what you may have said about the casino workers, bartenders, waitresses, farmers, etc that are working hard and honest to put food on the table and not draw a government check.

I can see you standing at the Rally  now with your tree hugger shoes on, stop the war hat ( I personally remember 9/11 and don't want that on our soil again, so GOD BLESS AND KEEP OUR TROOPS "OVER THERE", and a prez that holds fast to that knowing  too!), your save the animals posters waving in the air (and who cares about the babies being killed so people can feel warm and fuzzy about what they want instead of what's right. After all , it is about what we want isn't it... that has to be good "karma", which Jesus must not have had huh? Never read of him making people sick, killing babies, or teaching about saving trees, only saving his friends souls, which would be uhhh.. everyone!) Come to my impeach foolishness rally next week!

Anyway, back to the very nice cudo's for Mr. Feeney, where this board "originaly" started, I am thankful that there are people out there that are doing their part in the Big plan. Can't imagine where we would be if everyone rolled up their sleeves and went to work but noone was footing the bill. Guess that's why God's Word says that there are many parts to the body. A mouth can't hear a baby cry, and an ear can't taste the sweetness of an apple , a man can't give birth, well, I think you get it. It does take everyone to make things work, and I'm glad that Mr Feeney is hearing the call and doing what he's doing without drawing attention to giving,  I'm sure that he's not the one that wrote the article about himself. Thanks for sharing the story, I pray you see God's fingerprints on your Da

 [ Reply ]
Mercola
  
BrainTrustDoctor
[ Joined on 10/07 ]  [ Posted on October 11, 2007]
4 Points        
   
Novice User
  Mercola

I would like to say that while everyone is free to express himself or herself with more sophisticated language regardless of the side or point of view, it would be in the interest of all of us if you would learn to spell and use your words correctly.  It's not CUDO'S.  It's KUDOS.  It's not YOUR but, it's correct to write YOU'RE, since it's a contraction of you are.  People are more inclined to pay more serious attention to your responses if you sound educated enough to be making the point in the first place.  Check out the rudimentary spelling and grammar guides.  Thank you.  

Mercola
  
TheTornado
[ Joined on 10/07 ]  [ Posted on October 12, 2007]
1 Points        
   
Novice User
  Mercola

I feel compelled to write this.  You sound like you are well read in the Bible.  But it does seem that you skipped a very important part.  That part where Jesus said something to the effect of "As you do to even the lowliest of those among you, so you do unto me."  Anytime you use a Christian argument especially considering "what's right," you should be an example of what's right.  Would you have worded your response that way to Jesus?  Well, according to scripture, you just did!  

I also assume you missed the part about "turning the other cheek" regarding the war.  Not that I necessarily agree that we should do nothing in response to 9/11, but if you criticize someone for disobeying Jesus' teachings (killing babies, "liberal"/"democrat" perspectives) you should not commit the same act of disobedience, especially in the same paragraph.

And maybe you misread the part about not judging others... you know?  The part about not pointing out the splinter in his eye when you have a plank in your own;  the story of which your response has been a great example?

Food for thought.  

  
  
sandman4224
[ Joined on 03/07 ] [ Posted on October 11, 2007 ]
4 Points        
   
 
Savvy User

In a time when one cannot trust those of wealth and power this story, I hope, is an exception to the rule. My take on his anonymity is that he didn't want those power mongers to know of his philanthropy in order to evade their scrutiny and agenda,ie. one world government, population control, fear mongering,endless war, clash of civilizations,etc.,etc.,etc.

I stand somewhat ambivalent and suspicious with a dash of hope that this story is true.

 [ Reply ]
  
  
Louiethe20th
[ Joined on 05/07 ] [ Posted on October 11, 2007 ]
3 Points        
   
 
Novice User

We will all soon become involuntary philanthropists if Hillary gets elected.

 [ Reply&nb