Chuck Feeney
Encyclopedia
Charles F. Feeney is an Irish American
businessman and philanthropist
and founder of The Atlantic Philanthropies, one of the largest private foundations in the world. He made his fortune as a co-founder with Robert Warren Miller of the Duty Free Shoppers Group
. The concept of "duty free shopping" - offering high-end concessions to travelers, free of import taxes - was in its infancy when, along with Miller, Feeney founded DFS on November 7, 1960. DFS began operations in Hong Kong (where it retains its corporate headquarters), later expanding to Europe and other continents. DFS' first major breakthrough came in the early 1960s, when it secured the exclusive concession for duty free sales in Hawaii, allowing it to market its products to Japanese travelers.
DFS eventually expanded to off-airport duty free stores and large downtown Galleria stores, and became the world's largest travel retailer. In 1996, Miller's and Feeney's interests were acquired by Louis Vuitton Moët Hennessy (LVMH)
, the French luxury goods group, for $1.63 billion. Miller still retains a 31% share of the company to this day. In March 2011, Feeney was inducted into Irish America magazine
's Hall of Fame. In 1997, Time Magazine said: “Feeney's beneficence already ranks among the grandest of any living American."
during the Great Depression
and came from a modest background of blue collar Irish-American parents who worked hard to make a good life for their family in Elizabeth, New Jersey. His ancestry traces to County Fermanagh
in Northern Ireland
. He served as a U.S. Air Force radio operator during the Korean War
, and began his career selling duty-free
liquor to US Naval personnel at Mediterranean ports in the 1950s.
He attended the Cornell University School of Hotel Administration
. In 2010 he received the Cornell Icon of Industry Award.
Feeney has four daughters and one son. He married twice. His first wife, Danielle, from France; his second wife's name is Helga.
(DFS Group), which earned him his fortune. When he sold it to LVMH
, he set aside $26 million to give to 2400 long-term staff.
As of the end of 2009, AP has made grants totaling more than $5 billion since 1982 and plans to spend its remaining $4 billion endowment by 2017. The Atlantic Philanthropies grant-making supports health and social projects in Australia
, Bermuda
, Northern Ireland
, Republic of Ireland
, South Africa
, the United States
and Viet Nam. 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.
, which has received over $580 million in direct and AP gifts. He has also donated around $1 billion to education in Ireland, mostly to third-level institutions, most notably the University of Limerick
, and over $220 million to causes in Vietnam
.
. 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."
; at the time, he decided to end his anonymity when it became apparent that a dispute with Robert Miller, his former DFS partner, over the sale of DFS Group was likely to lead to a lawsuit that would reveal his donations anyway.
Feeney cooperated in the publication of a biography about him by Conor O'Clery
, The Billionaire Who Wasn't: How Chuck Feeney Made and Gave Away a Fortune Without Anyone Knowing (ISBN 978-1-58648-391-3). Feeney is also the subject of a documentary by RTÉ Factual entitled "Secret Billionaire: The Chuck Feeney Story."
Irish American
Irish Americans are citizens of the United States who can trace their ancestry to Ireland. A total of 36,278,332 Americans—estimated at 11.9% of the total population—reported Irish ancestry in the 2008 American Community Survey conducted by the U.S. Census Bureau...
businessman and philanthropist
Philanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...
and founder of The Atlantic Philanthropies, one of the largest private foundations in the world. He made his fortune as a co-founder with Robert Warren Miller of the Duty Free Shoppers Group
DFS (retailer)
DFS Galleria is a chain of upscale department stores and shopping malls comprising high-end boutiques, located primarily within Oceania and around the Pacific Rim. Its website proclaims it to be "the world's leading luxury retailer catering to the travelling public"...
. The concept of "duty free shopping" - offering high-end concessions to travelers, free of import taxes - was in its infancy when, along with Miller, Feeney founded DFS on November 7, 1960. DFS began operations in Hong Kong (where it retains its corporate headquarters), later expanding to Europe and other continents. DFS' first major breakthrough came in the early 1960s, when it secured the exclusive concession for duty free sales in Hawaii, allowing it to market its products to Japanese travelers.
DFS eventually expanded to off-airport duty free stores and large downtown Galleria stores, and became the world's largest travel retailer. In 1996, Miller's and Feeney's interests were acquired by Louis Vuitton Moët Hennessy (LVMH)
LVMH
LVMH Moët Hennessy • Louis Vuitton S.A., better known as LVMH, is a French multinational luxury goods conglomerate headquartered in Paris, Île-de-France, France. The company was formed after the 1987 merger of fashion house Louis Vuitton with Moët Hennessy, a company formed after the 1971 merger...
, the French luxury goods group, for $1.63 billion. Miller still retains a 31% share of the company to this day. In March 2011, Feeney was inducted into Irish America magazine
Irish America magazine
Irish America magazine is a bi-monthly periodical that aims to cover topics relevant to the Irish in North America including a range of political, economic, social, and cultural themes. The magazine’s inaugural issue was published in October 1985...
's Hall of Fame. In 1997, Time Magazine said: “Feeney's beneficence already ranks among the grandest of any living American."
Personal
Feeney, an Irish-American with dual citizenship, was born in New JerseyNew Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
during the Great Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
and came from a modest background of blue collar Irish-American parents who worked hard to make a good life for their family in Elizabeth, New Jersey. His ancestry traces to County Fermanagh
County Fermanagh
Fermanagh District Council is the only one of the 26 district councils in Northern Ireland that contains all of the county it is named after. The district council also contains a small section of County Tyrone in the Dromore and Kilskeery road areas....
in Northern Ireland
Northern Ireland
Northern Ireland is one of the four countries of the United Kingdom. Situated in the north-east of the island of Ireland, it shares a border with the Republic of Ireland to the south and west...
. He served as a U.S. Air Force radio operator during the Korean War
Korean War
The Korean War was a conventional war between South Korea, supported by the United Nations, and North Korea, supported by the People's Republic of China , with military material aid from the Soviet Union...
, and began his career selling duty-free
Duty-free shop
Duty-free shops are retail outlets that are exempt from the payment of certain local or national taxes and duties, on the requirement that the goods sold will be sold to travelers who will take them out of the country...
liquor to US Naval personnel at Mediterranean ports in the 1950s.
He attended the Cornell University School of Hotel Administration
Cornell University School of Hotel Administration
The School of Hotel Administration at Cornell University is a specialized business school for hospitality management founded in 1922 as the first four-year intercollegiate school devoted to the field...
. In 2010 he received the Cornell Icon of Industry Award.
Feeney has four daughters and one son. He married twice. His first wife, Danielle, from France; his second wife's name is Helga.
Career
Feeney was a co-founder of the Duty Free Shoppers GroupDFS (retailer)
DFS Galleria is a chain of upscale department stores and shopping malls comprising high-end boutiques, located primarily within Oceania and around the Pacific Rim. Its website proclaims it to be "the world's leading luxury retailer catering to the travelling public"...
(DFS Group), which earned him his fortune. When he sold it to LVMH
LVMH
LVMH Moët Hennessy • Louis Vuitton S.A., better known as LVMH, is a French multinational luxury goods conglomerate headquartered in Paris, Île-de-France, France. The company was formed after the 1987 merger of fashion house Louis Vuitton with Moët Hennessy, a company formed after the 1971 merger...
, he set aside $26 million to give to 2400 long-term staff.
Philosophy
"I had one idea that never changed in my mind—that you should use your wealth to help people. I try to live a normal life, the way I grew up," Feeney said. "I set out to work hard, not to get rich." A report explaining Feeney's "Giving While Living" approach to philanthropy and its lasting impact on the philanthropic community was issued by The Atlantic Philanthropies in 2010. It profiles Feeney as well as other philanthropists who give in this manner and the impact of their grant-making.Foundation
Feeney founded The Atlantic Philanthropies in 1982, and in 1984, having made provision for each of his children and for his first wife, as well as very modest provision for himself, transferred the bulk of his wealth to the foundation.As of the end of 2009, AP has made grants totaling more than $5 billion since 1982 and plans to spend its remaining $4 billion endowment by 2017. The Atlantic Philanthropies grant-making supports health and social projects in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, Bermuda
Bermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
, Northern Ireland
Northern Ireland
Northern Ireland is one of the four countries of the United Kingdom. Situated in the north-east of the island of Ireland, it shares a border with the Republic of Ireland to the south and west...
, Republic of Ireland
Republic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
, South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
, the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and Viet Nam. 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
Ageing
Ageing or aging is the accumulation of changes in a person over time. Ageing in humans refers to a multidimensional process of physical, psychological, and social change. Some dimensions of ageing grow and expand over time, while others decline...
and of comprehensive immigration reform in the United States.
Education
Feeney has been a major donor to his alma mater Cornell UniversityCornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
, which has received over $580 million in direct and AP gifts. He has also donated around $1 billion to education in Ireland, mostly to third-level institutions, most notably the University of Limerick
University of Limerick
The University of Limerick is a university in Ireland near the city of Limerick on the island's west coast. It was established in 1972 as the National Institute for Higher Education, Limerick and became a university by statute in 1989 in accordance with the University of Limerick Act 1989...
, and over $220 million to causes in Vietnam
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
.
The Giving Pledge
In February 2011 Feeney became a signatory to The Giving PledgeThe Giving Pledge
The Giving Pledge is a campaign to encourage the wealthiest people in the United States to make a commitment to give most of their money to philanthropic causes...
. 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."
Books and articles
Feeney first went public about his philanthropy in 1997, in an article published by The New York TimesThe New York Times
The New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...
; at the time, he decided to end his anonymity when it became apparent that a dispute with Robert Miller, his former DFS partner, over the sale of DFS Group was likely to lead to a lawsuit that would reveal his donations anyway.
Feeney cooperated in the publication of a biography about him by Conor O'Clery
Conor O'Clery
Conor O'Clery is an Irish journalist and writer. He was born in Belfast and educated at Queen's University Belfast. He worked for The Irish Times for over 30 years in various positions, including news editor and foreign correspondent based in London, Moscow, Washington, D.C., Beijing and New York...
, The Billionaire Who Wasn't: How Chuck Feeney Made and Gave Away a Fortune Without Anyone Knowing (ISBN 978-1-58648-391-3). Feeney is also the subject of a documentary by RTÉ Factual entitled "Secret Billionaire: The Chuck Feeney Story."