Millionaire helps kids go to college

[Faryn Balyncd]

11. Actually, he did set up a foundation:

(... but he doesn't plan for it to go on for centuries, as he apparently plans to disperse the funds by 2016)

"Feeney founded The Atlantic Philanthropies in 1982, and in 1984, having made provision for each of his children and his first wife, as well as a very modest provision for himself, transferred the bulk of his wealth to the foundation.

"As of October 2012, Atlantic has made grants totaling more than $6.2 billion since 1982 and plans to spend its remaining $1.3 billion by 2016. The Atlantic Philanthropies grant-making supports health and social projects in Australia, Bermuda, Northern Ireland, Republic of Ireland, South Africa, the United States and Vietnam. It is one of the largest charitable donors in each of the countries in which it operates, and is the single largest funder of ageing and of comprehensive immigration reform in the United States. In December 2011, Atlantic committed a $350 million gift to help build the campus for Cornell University’s new high-tech graduate school on Roosevelt Island in New York City.

"Feeney has been a major donor to his alma mater Cornell University, which has received over $950 million in direct and Atlantic gifts, including a donation of $350 million towards the New York Tech Campus. He has also donated around $1 billion to education in Ireland, mostly to third-level institutions, most notably the University of Limerick, and over $350 million to causes in Vietnam.

"In February 2011 Feeney became a signatory to The Giving Pledge. In his letter to Bill Gates and Warren Buffett, the founders of The Giving Pledge, Feeney writes, "I cannot think of a more personally rewarding and appropriate use of wealth than to give while one is living—to personally devote oneself to meaningful efforts to improve the human condition. More importantly, today's needs are so great and varied that intelligent philanthropic support and positive interventions can have greater value and impact today than if they are delayed when the needs are greater."



http://en.wikipedia.org/wiki/Chuck_Feeney