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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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Comment on This Article Community Comments (50)
 
 
Posted On Sep 24, 2007
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

 
Russ Bianchi
Savvy User Savvy User, Joined On 9/2006
Russ Bianchi  
Replied

CHESS1306
Novice User Novice User Joined On 10/2007
CHESS1306  
 
Posted On Oct 11, 2007

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



GeriS
Novice User Novice User Joined On 7/2007
GeriS  
 
Posted On Oct 14, 2007

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!!!


 
 
 
Posted On Oct 11, 2007

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.


 
Dee B
Novice User Novice User, Joined On 6/2006
Dee B  
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Health 1
Novice User Novice User Joined On 3/2007
Health 1  
 
Posted On Oct 11, 2007

Well said Dee B.

Blessings

Dr. Trudy



Mainmat
Novice User Novice User Joined On 10/2007
Mainmat  
 
Posted On Oct 11, 2007

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


 
 
 
Posted On Oct 11, 2007

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.


 
themikeb
Apprentice User Apprentice User, Joined On 2/2007
themikeb  
Replied

Health 1
Novice User Novice User Joined On 3/2007
Health 1  
 
Posted On Oct 11, 2007

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



Pat Ormsby
Savvy User Savvy User Joined On 6/2006
Pat Ormsby  
 
Posted On Oct 14, 2007

"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.


 
 
 
Posted On Sep 25, 2007
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? ;)

 
Magnolia
Savvy User Savvy User, Joined On 6/2006
Magnolia  
 
 
 
Posted On Sep 25, 2007
Inspiring story. Thank you for sharing this article.

 
Dex
Savvy User Savvy User, Joined On 11/2006
Dex  
 
 
 
 
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