The Giving Revolutionary

He made billions, but Chuck Feeney had given it all away by the age of 85. Under his “giving while living” philosophy, the DFS co-founder was able to target his philanthropy and witness its benefits, writes Rachel Duffell

- Rachel Duffell

IT MAKES SENSE THAT SUCCESSFUL businessmen should apply their accumulated acumen—the very skills that meant they made it big in business—to making an impact in the world of philanthropy. This way, they can identify projects where investments will make a real difference and where they can be a valuable part of the process. This has the potential for substantially greater benefits than simply bequeathing funds, which may not be as thoughtfully, cleverly or effectively put to use.

One man who has provided a model example of the “giving while living” philosophy is Chuck Feeney. In December 2016, as Feeney turned 85, the organisation he founded in 1982, the Atlantic Philanthropies, made its final grant, taking total donations to US$8b, the sum amounting to Feeney’s fortune.

Feeney had prospered as co-founder of DFS. The road to financial success wasn’t always a straightforward one; it rarely is. There were moments when what began as Tourists International and later Duty Free Shoppers almost came tumbling down. But as Japanese tourism boomed internationally, and Feeney identified strategic locations in places such as Hawaii and Hong Kong for his first duty-free stores, it wasn’t long before the company was making money hand over fist. However, business for Feeney had been about the competition and about striving to triumph. While money may have been a mark of his success, it was never his raison d’etre, and having so much began to make him feel uncomfortable.

“It was by 1980 that I started thinking: where is all this leading and what am I going to do with it?” says Feeney. “I’m a guy who said that I could be happy with a grilled cheese and tomato sandwich.”