This American billionaire gave away his entire $8 billion fortune for a bizarre reason

America's wealthiest people often appear on Forbes' list of top philanthropists, contributing billions to disease cures, college endowments, and climate initiatives. Yet, only a few have matched Charles "Chuck" Feeney's level of generosity, as he gave away his entire fortune and died penniless.

As per a report by Forbes, Feeney, 92 at the time of his death in 2023, had given away all of his $8 billion worth of fortune to charities, which included universities and other organizations, via his foundation, the Atlantic Philanthropies. According to the report, the philanthropist pioneered the idea of "giving while living". 

“We learned a lot. We would do some things differently, but I am very satisfied. I feel very good about completing this on my watch,” Feeney told Forbes. "My thanks to all who joined us on this journey. And to those wondering about Giving While Living: Try it, you'll like it," he said back in 2020.

Since 2015, Feeney donated more than $8 billion to charities. While most philanthropists employ an army of publicists to tell the world about their donations, Feeney went to great lengths to keep it all a secret. Because of this, Forbes called him the "James Bond of Philanthropy."

According to the report, Feeney made sure that every big problem got his big money, be it to bring peace to Northern Ireland, modernize Vietnam's healthcare system, or spend $350 million to turn New York’s long-neglected Roosevelt Island into a technology hub.

In September 2020, Feeney completed his four-decade mission and signed the documents to close down the Atlantic Philanthropies. Now, philanthropy may be shut down, but its impact will be felt for generations. 

Where Did the $8 Billion Go?

In December 2016, he donated around $7 million to his alma mater, Cornell University, for student community service work, and with that Feeney had successfully emptied Atlantic Philanthropies’ accounts. Back in the 80s, at the height of his entrepreneurial success, he famously gave his entire stake in his company to his foundation and then spent the next 32 years donating all that money to different nonprofits around the world.

His foundation has reportedly helped build more than 1,000 buildings in more than five continents and yet he himself never owned a home. Back in 1994, he had played a major role in bringing about the Irish Republican ceasefire which brought peace to Northern Ireland. 

How Did Chuck Feeney Build His Fortune?

Charles Francis Feeney was an American businessman and philanthropist who accrued a fortune as the co-founder of Duty-Free Shoppers Group, the travel retailer of luxury products based out of Hong Kong. Feeney sold luxury duty-free goods to travelers while leading a fairly simple life. He was born during the Depression and had a very humble upbringing in New Jersey. He later went to college on the G.I Bill after serving as an Army radio operator during the Korean War.

Feeney reportedly left about $2 million for his wife’s retirement and gave everything away. He will be remembered for his massive influence on the world and other philanthropic organizations and personalities including Bill Gates and Warren Buffett.