September, Friday 20, 2024

Chuck Feeney: Visionary Businessperson and Generous Philanthropist Passes Away


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Chuck Feeney, the Irish-American entrepreneur and philanthropist, has passed away at the age of 92. Feeney, through his foundation called the Atlantic Philanthropies, donated over $8 billion (approximately £6.5 billion) to causes across five continents. Over a span of four decades, the foundation contributed $570 million (£465 million) to various causes in Northern Ireland, with a focus on health, education, reconciliation, and human rights. Feeney dissolved his foundation in 2020, but by then, it had already awarded more than $8 billion (£6.5 billion) in grants, primarily in the United States, the United Kingdom, the Republic of Ireland, Australia, South Africa, Vietnam, Bermuda, and Cuba. Born in 1931 during the Great Depression, Feeney hailed from Elizabeth, New Jersey, to Irish-American parents. His father worked as an insurance underwriter, while his mother was a hospital nurse. Feeney's roots can be traced back to County Fermanagh, where his grandmother grew up near the village of Kinawley. Although Feeney amassed his wealth by selling luxury duty-free goods to travelers worldwide, he himself shunned materialistic indulgences. In 1982, he established the Atlantic Philanthropies as an international organization to distribute his fortune to various causes and projects around the globe. For the first 15 years, Feeney kept his philanthropic activities secret, earning him the moniker of the "James Bond of philanthropy." He only revealed his identity to the public in 1997. Universities on both sides of the Irish border were beneficiaries of Feeney's philanthropic endeavors, with donations amounting to hundreds of millions of US dollars. In 2012, he was awarded an Honorary Doctorate of Laws from universities across Ireland. Tánaiste (Irish deputy prime minister) Micheál Martin expressed deep sorrow upon hearing the news, praising Feeney's extraordinary generosity and the transformative impact of his donations on people's lives in both Northern Ireland and the Republic of Ireland. Martin particularly commended Feeney's unwavering support for peace and reconciliation in Northern Ireland over the years. One of the major recipients of Feeney's grants from 1993 to 2015 was Queen's University Belfast, which received a total of $132 million (£107 million). The university also received the largest individual donation from the Atlantic Philanthropies of $24 million (£19 million) in 2012, specifically designated for the Institute of Health Sciences Centre for Experimental Medicine. Another significant focus of Feeney's philanthropy in Northern Ireland was the promotion of integrated education to foster reconciliation and peace-building. It is estimated that approximately £8 million was gifted to the Integrated Education Fund for various projects, marking it as the first sector funded by the Atlantic Philanthropies in Northern Ireland back in 1991. Atlantic Philanthropies quoted Feeney, stating, "I had one idea that never changed in my mind – that you should use your wealth to help people."