Wealthy Philanthropist Donates Billions to Charities
It is no surprise that Forbes named Charles “Chuck” Feeney the James Bond of Philanthropy. After 38 years, Feeney achieved his lifetime goal: giving away all his $8 billion amassed wealth to charity and being alive to see its impact. When someone donates billions to charities, the impact should be substantial.
Charles “Chuck” Feeney
Chuck Feeney amassed his wealth from establishing a franchise of stores within thousands of airports known as the Duty-Free Shoppers Group. He also launched the General Atlantic, an American growth equity firm. Yet, the man, with this immense fortune lives in a rented San Francisco apartment. Moreover, he has even been found riding public transit. Feeney has credited his life philosophy to the Andrew Carnegie essay, “The Gospel of Wealth.” The essay declares that the millionaire’s sole duty is to give back to the poor. As Feeney donates billions to charities, he certainly obliges. Carnegie’s influence is extremely apparent within Feeney’s life. His coined phrase and mantra in life, “Giving While Living,” is essentially saying that you should give all you can to charity now rather than later. This, which closely resembles the messages behind The Gospel of Wealth.
In the early ’80s, the Duty -Free Shoppers franchise was at its peak. This is when Feeney decided to be the one who donates billions to charities. Without anyone’s knowledge, he secretly handed over all his shares and formed his new foundation, the Atlantic Philanthropies. Since 1982, the Atlantic Philanthropies has focused on issues of health, social and public policy throughout Australia, Bermuda, Ireland, South Africa, the U.S. and Vietnam. Within these countries, the foundation has addressed many important issues. Among them include facilitating the peace process in Northern Ireland, reducing the number of children without health insurance in the U.S., providing millions with HIV/AIDS medication in South Africa and helping modernize Vietnam’s health care system. While the foundation has officially dissolved recently, Feeney has one last message to relay: “To those wondering about Giving While Living: try it, you’ll like it.”
3 Countries Impacted
- South Africa: In the early years after Apartheid, Atlantic Philanthropies saw the opportunity to help advance South African society from its previous suppression. During the ’90s, the foundation assisted young black South African attorneys in getting their law degrees. In the 2000s, Atlantic made funds to advance nursing and health services. By the end of 2016, Atlantic Philanthropies had totaled $442 million in investments toward building democratic institutions and organizations. Overall, the foundation brought 2 million South Africans access to HIV medication. Also, it convinced the government to pledge $1 billion toward school improvements. Finally, it increased the number of nurses between 2005 and 2013 by 44%.
- Vietnam: The Atlantic Philanthropies have invested $381.5 million towards improving Vietnam’s public health system and renewing old libraries and universities. With Feeney’s contribution of billions to charities, Vietnam modernized its healthcare system, resulting in 9 million citizens receiving better and improved treatment. Further, the foundation focused on efforts that advocated for healthier behaviors. These included the widespread anti-smoking campaign and the passed mandate that forced motorcyclists to wear helmets. Also, in the education sector, Atlantic Philanthropies improved Vietnamese university libraries.
- Cuba: In the early 2000s, Cuba’s healthcare, although seen as one of the best worldwide, was suffering from a lack of resources. This, in turn, sparked the Atlantic’s activism. Overall, the foundation invested $66 million into organizations that work toward improving the care and treatment of Cubans. Moreover, these bodies spread knowledge about Cuba’s effective public health practices in nations with impoverished communities.
An Inspiring Message
Feeney’s extreme display of generosity via contributions of billions to various charities has inspired many notable philanthropists and entrepreneurs to do their part to help the less fortunate. An example of wealthy business moguls following in Feeney’s footsteps is the “Giving Pledge.” Warren Buffet and Bill Gates launched the Giving Pledge in 2010 as a campaign that seeks to persuade wealthy figures across the world to donate close to half of their wealth before they die.
– Maya Falach