Irish billionaire Chuck Feeney, 89, is officially broke as he has
given away $8 billion(N3tn) to charities, universities, and
organisations worldwide via his foundation, the Atlantic
Philanthropies, Forbes Magazine reports.
The report stated that Feeney reached his billionaire status by
co-founding airport retailer Duty Free Shoppers. The business
man was popular for leading the way with lifestyle of giving.
The report suggests he believed in the idea of ‘Giving While
Living’.
The idea encourages philanthropists to spend all their money
during their own life-time to have better control over its use.
In a pre-interview with Forbes, the business tycoon said that
he was, in fact, very satisfied.
Under his Giving While Living vision, he has been able to do
some hands-on charity and did not have to rely on funding a
foundation post-death.
The billionaire added that he learned a lot along his journey
and the idea of why not give it all (the wealth) away had
struck as very appealing to him. He wanted to do it under his
watch.
Feeney has been estimated to leave about $2 million
(N767m) for his and his wife’s retirement and was said to
have given all his money anonymously and made sure it
stayed that way.
Currently, he lives in an apartment in San Francisco.
Source: the nation online ng.net
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