Secretly Making Billions And Giving It Away
“… you should use your wealth to help people”
He wears a $15 watch, flies economy class, and does not own a house or car. For years few guessed that Chuck Feeney was one of the world’s biggest philanthropists, secretly giving away his billionaire fortune. Born in New Jersey during the Depression to a blue-collar Irish-American family, Feeney co-founded Duty Free Shoppers, the world’s largest duty-free retail chain. He liked making money but not having it, so he gave it away for years in strict secrecy. Witty, self-deprecating, frugal, and astute, Feeney was listed by Forbes Magazine in 1988 as the 23d richest American alive and worth $1.3 billion, richer than Rupert Murdoch and Donald Trump. He wasn’t. Four years earlier, Feeney had placed most of his money in charitable foundations. Inspired by the great 19th century philanthropist Andrew Carnegie, Feeney helped fund schools, hospitals, universities, medical research, and human rights groups from the United States and Ireland to South Africa and Vietnam.
“I had one idea that never changed in my mind - that you should use your wealth to help people. I try to live a normal life, the way I grew up,” Feeney said. “I set out to work hard, not to get rich.” Feeney kept his generosity secret for years, saying he did not want to “blow my own horn” or discourage others from giving to the same deserving causes. Only in 1997, when his founding share in his business was sold, did people learn of his generosity. He came to the conclusion that his story should be told to promote giving while living. Now that’s a rich man.
