A Life Well Lived: How Chuck Feeney Gave Out His Billions

Chuck Feeney, who died on October 9, 2023, at the age of 92, was an American businessman and philanthropist who made his fortune as a co-founder of Duty-Free Shoppers Group, the travel retailer of luxury products based in Hong Kong.

He was also the founder of the Atlantic Philanthropies, one of the largest private charitable foundations in the world. Feeney gave away more than $8 billion in his lifetime, following the principle of "giving while living". He lived a modest and frugal lifestyle, avoiding the trappings of wealth and fame.

How He Made His Money

Feeney was born in Elizabeth, New Jersey, in 1931, during the Great Depression, to modest blue-collar Irish-American parents. He served as a U.S. Air Force radio operator during the Korean War and graduated from Cornell University in 1956.

He began his career selling duty-free liquor to U.S. naval personnel at Mediterranean ports in the 1950s. He later expanded to selling cars and tobacco and founded the Duty-Free Shoppers Group (DFS Group) in 1960 with his college classmate Robert Warren Miller. DFS began operations in Hong Kong, later expanding to Europe and other continents.

A breakthrough came in the early 1960s, when DFS secured a concession for duty-free sales in Hawaii, allowing it to market its products to Japanese travelers.

DFS eventually expanded to off-airport duty-free stores and large downtown Galleria stores and became the world's largest travel retailer. By the mid-1990s, DFS was distributing profits of up to $300 million a year to Feeney, Miller, and two smaller partners.

How He Gave Away His Money

Feeney decided to give away his fortune in secret for many years, choosing to be anonymous. He founded the Atlantic Philanthropies in 1982, an international organization set up to distribute his money to good causes and projects that he supported around the world.

He transferred almost all of his wealth to the foundation, keeping only a fraction for himself and his family. He did not reveal his identity as the donor until 1997 when he was forced to do so by a legal dispute with Miller over the sale of DFS to LVMH. Feeney's main areas of interest were health, education, reconciliation, human rights, and scientific research.

He donated more than $8 billion to causes on five continents, mainly in the United States, Ireland, Australia, South Africa, Vietnam, Bermuda, and Cuba. Some of his notable gifts include:

- $1 billion to Cornell University

- $350 million to the University of California San Francisco

- $270 million to Trinity College Dublin

- $177 million to the Global Brain Health Institute

- $125 million to the University of Limerick

- $100 million to the University of Queensland

- $76 million to Human Rights Watch

- $62 million to Amnesty International

- $57 million to the International Rescue Committee

- $570 million to various causes in Northern Ireland

Feeney dissolved the Atlantic Philanthropies in 2020, after fulfilling his goal of giving away his fortune during his lifetime. He said: "I had one idea that never changed in my mind—that you should use your wealth to help people."

How He Lived His Life

Feeney was known for his simple and humble lifestyle, despite being a billionaire. He did not own a house or a car, and rented modest apartments or stayed in cheap hotels. He flew economy class and wore inexpensive clothes and watches.

He did not have an office or a secretary and carried his papers in a plastic bag. He avoided publicity and shunned recognition or awards. He said: "I don't need recognition for what I do." He also said: "I try to live a normal life—the way I grew up."

Feeney was married twice and had five children. His first wife was Danielle J. Feeney, whom he married in 1959 and divorced in 1991. His second wife was Helga Feeney, whom he married in 1995. He had four daughters—Leslie Feeney-Baily, Diane Feeney-Frenchman, Juliette Feeney-Timsit, and Andrea Feeney—and one son—Patrick Feeney.

Feeney died on October 9, 2023, in San Francisco, California. He had been suffering from Alzheimer's disease for several years.

References:

(1) Chuck Feeney - Wikipedia.

(2) Chuck Feeney: Entrepreneur and philanthropist dies - BBC News.

(3) Chuck Feeney: The billionaire who gave away his fortune.

(4) Exclusive: The Billionaire Who Wanted To Die Broke . . . Is Now .... .

(5) Chuck Feeney, Cornell’s ‘third founder,’ dies at 92.