Chuck Feeney is now officially broke

Chuck Feeney, the co-founder of retail giant Duty Free Shoppers, who always said that he wanted to die broke, is now officially broke.

It took decades for the former billionaire Chuck Feeney to donate all of his wealth to charity, but now that he has finally done it, he is nothing but happiness.

Chuck, 89, co-founded the airport retailer “Duty Free Shoppers” with Robert Miller in 1960. He is a philanthropist who believes in the idea of giving while living, rather than giving it all away to a charity at the time of one’s death.

The Donations

Chuck has been donating to universities and foundations through his foundation, the Atlantic Philanthropies, for 40 years. He has donated about $8 Billion of his wealth for the betterment of others.

He set aside $2 million for himself and his wife’s retirement in 2012. To put things in context, he has donated 375,000% more money than his current wealth, all done anonymously through his foundation.

According to Forbes, Chuck now lives like any ordinary person. He has a flat in San Francisco that he shares with his wife.

Since his donations are no longer a secret, he has been an icon, influencing billionaires worldwide to donate their wealth while they are alive, and see the results of their donations with their very own eyes.

Chuck Feeney’s Impact

Chuck is the one who influenced fellow billionaires like Bill Gates and Warren Buffett with his kind actions. Subsequently, the trio launched their “Giving Pledge” project in 2010 to convince the world’s wealthiest personalities to give away at least half their fortunes before their death.

Chuck is a sole believer in donating to more significant causes. Unlike the previous generation of donors who only contribute to comparatively worthless causes.

His life consists of facilitating charity projects, whether it be modernizing Vietnam’s healthcare system, bringing peace to Northern Ireland, or contributing $350 million to convert New York’s Roosevelt Island into a technology hub.

Furthermore, the former billionaire signed the documents to shutter the Atlantic Philanthropies on September 14, 2020, commemorating the end of an era. His four-decade-long mission concluded through a zoom meeting, which included messages from Bill gates and former California Governor Jerry Brown.

During its peak, Atlantic Philanthropies has more than 300 employees and ten global offices. Chuck had set 2020 as his hard deadline to disclose the organization, as he will be giving away all of his money.

He said that the organization was not a business, rather an organization based on opportunities.

Image courtesy of Song_about_summer/Shutterstock

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