When he announced his intentions to give money away in 2012, he released a statement: “You can only wear one pair of pants at a time.” Regarding his own frugal lifestyle, Feeney explains his Spartan ways: Which seems like a lot, until you realize you can’t hardly buy a decent house for that much in San Francisco, where he and his wife now live in a rented apartment.

He always flew coach and ate burgers at the local pub, living happily while well below his means. And he’s lived a pretty frugal life considering his fortune. Feeney built his fortune with the DFS Group, a line of duty-free airport shops established in 1960.

In 2012, Feeney had $1.5 billion to give away, and he was already 81 years old. In total, Feeney’s Atlantic Philanthropies organization has given away $8 billion to scientific research, higher education, human rights, and public health initiatives. Feeney wanted to enjoy giving away his money while still alive. The philanthropist’s goal was to give money away until he had depleted his fortune. Feeney wasn’t trying to break a million dollars in the bank or even a billion. Chuck FeeneyĪmerican businessman Charles Feeney finally hit his financial goal in December 2016. We also have a post on ways you can give back to your community on a budget. And don’t feel discouraged if you don’t have that kind of money to throw around. Here are a number of notable cases of extremely rich people who’ve been able to enjoy the pleasure of helping others by sharing their good fortune. “The experience of true wealth comes from sharing, expressing that we have and are enough.” Also, money’s not just something we earn, save, invest, and spend … It’s an expression of ourselves and our values. It’s no wonder that many of the very rich indulge in philanthropy.Īs best-selling author Lynn Twist writes in The Soul of Money, people feel the most fulfilled when they give to others. Imagine how great it must feel to have millions, even billions of dollars and be able to give money away to charitable causes. Spending money on others lowers blood pressures and extends life expectancy. Older people who were generous had better health. Recent scientific studies show that people get an actual buzz from acts of altruism. One of life’s biggest pleasures is the ability to give money to those who are in need.

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