The Billionaire Who Gave It Away

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On Oct. 9, The New York Times published an obituary for Charles “Chuck” Feeney, the man responsible for “duty-free shops at every international airport.”

The obituary was standard for The Times, sharing Mr. Feeney’s American dream, the tale of a kid who grew up in poverty as a child of the Depression in New Jersey.

“Mr. Feeney’s was a life of remarkable contrasts, from serving in the Air Force, he studied hotel management in college and got into the duty-free shopping business by selling liquor, cigarettes, and perfume to homeward-bound American servicemen in Europe in the 1950s,” the paper wrote.

The Times continued: “Mr. Feeney’s businesses went global. Profits were enormous. By age 50, he had palatial homes in New York, London, Paris, Honolulu, San Francisco and Aspen, Colo., and on the French Riviera.”

Everyone loves a great Horatio Alger story — except Mr. Feeney.

Forty years before his death, Mr. Feeney began to wonder, “Why me?” “Why am I the lucky one?” “Why do I need homes on every continent while kids are starving?” “Do I really want all this?” “Has being rich made me happy?”

His biographer, Conor O’Clery, wrote of Mr. Feeney, “The Billionaire Who Wasn’t” (2007). When asked many years later if he was rich at this point in his life, he replied: ‘How much is rich? Once he answered those questions, Mr. Feeney made a dramatic change and decided to give everything away. Secretly establishing Atlantic Philanthropies, based in Bermuda, Mr. Feeney began to give away his financial portfolio worth over 8 billion dollars, funding a health facility in Vietnam, an AIDS clinic in South Africa, a medical campus for the University of California at San Francisco, earthquake relief in Haiti and one billion to his college, Cornell. Mr. Feeney went on a spending spree to help those in need.

Forbes Magazine wrote of Mr. Feeney 12 years before his death “that no person of such wealth has completely given away his fortune while still alive.”

In the last years of his life, Mr. Feeney did not own a home, rented a two-bedroom flat with his wife, didn’t own a car, took buses everywhere, had a $10 wristwatch, and flew coach. By 2020, every dollar that Mr. Feeney made was given away, which caused him to shut down Atlantic Philanthropies.

Mr. Feeney learned the power of “giving back” was far more satisfying than the power of the luxuries of life. For all of us, we might not have $8 billion to give away; however, there are several ways in which individuals can give back to others.

One common method is volunteering for a charitable organization or a community initiative. This may involve participating in events, aiding those less fortunate or dedicating time and effort to a specific cause.

And in an increasingly angry world, we can give back by simply showing kindness and support to those around us. Acts of kindness, such as listening compassionately to someone, offering a helping hand or providing emotional support, can have a significant impact on others' lives.

Obituaries are meant to tell the story of one’s life.

They can also provide incredible motivation to improve our own with the time we have left.

In our own way, we should borrow the lessons of Mr. Feeney and give back to those around us.

It will be far more rewarding.