Charles “Chuck” Feeney, the co-founder of duty-free shops who gave away nearly his entire $8 billion fortune, died at his rented San Francisco apartment. He was 92.
Feeney’s death was announced Monday by Atlantic Philanthropies, a gaggle of charitable foundations he launched in 1982 for his philanthropic efforts.
Atlantic Philanthropies “made grants totaling greater than $8 billion…to causes on five continents” on behalf of Feeney, though much of it was done anonymously, said the organization, which was wound up in 2016 after Feeney made a $7 million donation to his alma mater, Cornell University, in keeping with The Recent York Times.
The Recent Jersey-born Feeney said he retained about $2 million for himself and his five adult children, The Times reported.
The seven-figure sum was a mere fraction of the billions he made through Duty Free Shoppers, the ultra-successful chain of airport stores he founded in 1960 together with his former Ivy League classmate Robert Miller.
Charles “Chuck” Feeney passed away on Monday at age 92. (Feeney pictured in October 1985 on the World Series game. On the time, Feeney was the President of the American League of Skilled Baseball.)Getty Images
Feeney and Miller sold the corporate to luxury goods conglomerate LVMH in 1997 for $2.47 billion.
After the sale, he spent much of his skilled life giving out funds to museums, universities, medical organizations, and human rights groups — though he went to great lengths to hide his identity.
Since 2011, Feeney was a member of the Bill and Melinda Gates’ Giving Pledge — a gaggle of billionaires including Elon Musk, Warren Buffet, and Larry Ellison who pledged to donate most of their fortune before their deaths.
Though his name appeared on the Giving Pledge list, Feeney’s name was nowhere to be found on the 1,000 buildings across five continents he collectively gave $2.7 billion to fund, in keeping with The Times.
Feeney’s donations in Ireland — where his ancestors are from — are thought to have been around $2 billion. In Northern Ireland, the so-called James Bond of philanthropy donated to the Republican Sinn Fein party, and to their rival, loyalist paramilitary group Ulster Defence Association.
Feeney (right) retained just $2 million for him and his five children. He donated the remaining of his fortune, which surpassed $8 billion.Getty Images
Feeney initially made his fortune from Duty Free Shoppers, an airport chain he began together with his college friend Robert Miller. The duo sold the chain to LVMH for $2.47 billion in 1997.Getty Images
He also handed out vast amounts of money to institutions and individuals via cashier’s check to hide the source. Atlantic Philanthropies were incorporated in Bermuda so his donations weren’t revealed, as they might must be for US tax requirements.
“Chuck Feeney is a remarkable role model, and the final word example of giving while living,” Gates told Forbes in 2012. At one time, the news site said Feeney was the twenty fourth richest person in America.
Feeney is survived by his wife, Helga Flaiz, and five children, in addition to 16 grandchildren.
The previous billionaire was married twice in his life.
He and his first wife, Danielle Morali-Daninos — a French citizen — wed in 1959 in Paris. The 2 had five children together before their marriage resulted in divorce within the ’90s.
Feeney gave all seven of his homes and a big financial settlement to Morali-Daninos, in keeping with The Times.
In 1995, he tied the knot with German-born Flaiz, his longtime assistant.
Feeney (pictured in NY in 2007) was considered Cornell University’s “third founder” as he was “Cornell University’s most generous donor.”Los Angeles Times via Getty Images
Feeney’s skilled life was a stark contrast from his early years living in Elizabeth, NJ. He was born to a working-class Irish-American family throughout the Great Depression, and his parents struggled to pay their $32-per-month mortgage.
Feeney went on to serve within the Air Force, where he was stationed in Japan.
He then went to Cornell University for hotel management, making him the primary person in his family to get a school degree.
A tribute to Feeney on Cornell’s website calls him the “third founder” as “Cornell University’s most generous donor.”
