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Sympthsical

(8,864 posts)
Tue Sep 15, 2020, 01:21 PM Sep 2020

The Billionaire Who Wanted To Die Broke...Is Now Officially Broke [View all]

If only all billionaires thought and behaved this way. Thought we could use a rare uplifting story from the billionaire class. Good man.

Charles “Chuck” Feeney, 89, who cofounded airport retailer Duty Free Shoppers with Robert Miller in 1960 amassed billions while living a life of monk-like frugality. As a philanthropist, he pioneered the idea of Giving While Living—spending most of your fortune on big, hands-on charity bets instead of funding a foundation upon death. Since you can't take it with you—why not give it all away, have control of where it goes, and see the results with your own eyes?

"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 tells 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."

Over the last four decades, Feeney has donated more than $8 billion to charities, universities, and foundations worldwide through his foundation, the Atlantic Philanthropies. When I first met him in 2012, he estimated he had set aside about $2 million for his and his wife's retirement. In other words, he's given away 375,000% more money than his current net worth. And he gave it away anonymously. While many wealthy philanthropists enlist an army of publicists to trumpet their donations, Feeney went to great lengths to keep his gifts secret. Because of his clandestine, globe-trotting philanthropy campaign, Forbes called him the  James Bond of Philanthropy.


https://www.forbes.com/sites/stevenbertoni/2020/09/15/exclusive-the-billionaire-who-wanted-to-die-brokeis-now-officially-broke/#7351e3c3a2aa
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While $2 million in retirement isn't exactly "broke", I truly admire giving away 3750x that. moriah Sep 2020 #1
Medical expenses and nursing home care can be extremely expensive wryter2000 Sep 2020 #3
All Relative, Right? ProfessorGAC Sep 2020 #6
Agreed on all counts wryter2000 Sep 2020 #8
I agree, as opposed to some DFW Sep 2020 #14
Won't anyone speak for the billionaires! Hassin Bin Sober Sep 2020 #20
What, all 540 of them? DFW Sep 2020 #23
You dont have to look far; Post #15. Posted right after yours! oldsoftie Sep 2020 #26
Yes, I'm still in Germany DFW Sep 2020 #28
You should make this an OP. SO many folks here just dont get reality & need to hear it. oldsoftie Sep 2020 #30
Wow. Breaking out the "taxation is NAZIism" and invoking crimes against Jewish people. Hassin Bin Sober Sep 2020 #31
No, Enteignung and full confiscation were Nazi tactics. DFW Sep 2020 #32
He did what I would do. Set aside an amount of money to get one through Blue_true Sep 2020 #22
What a loser! What did he get out of it? Miigwech Sep 2020 #2
Todays winner!! oldsoftie Sep 2020 #27
ThanksChuck. And Mrs Feeney. LakeArenal Sep 2020 #4
There's a great YouTube video of him bucolic_frolic Sep 2020 #5
What a perfect goal to strive for. yonder Sep 2020 #7
So would this guy be a "loser" or a "sucker?" dchill Sep 2020 #9
Depends on which Trump answered you... Moostache Sep 2020 #12
Actually, I have the same goal. Mr.Bill Sep 2020 #10
Kinda restores one's faith, doesn't it! calimary Sep 2020 #11
My faith is indeed restored in humanity. But we hear stories of giving on DU all of the time, and SWBTATTReg Sep 2020 #13
Well, it's a start anyway. At least there are some people who aren't greedy bastards. groundloop Sep 2020 #16
It would be better if he'd been taxed on more of it, though. LisaM Sep 2020 #15
I'm sure he paid plenty in taxes - his giving spanned around 4 decades..... groundloop Sep 2020 #17
"some charities may be things we dont want our money to go to". Jeeze. oldsoftie Sep 2020 #25
I'm broker than him and I didn't have to work at it. TeamPooka Sep 2020 #18
This is, IMHO, our true "purpose" in life Pluvious Sep 2020 #19
K&R, uponit7771 Sep 2020 #21
My first serious job Roy Rolling Sep 2020 #24
Thank you, Mr. & Mrs. Feeney! NCjack Sep 2020 #29
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