Irish billionaire Chuck Feeney, 89, is officially broke as he has given away $8 billion(N3tn) to charities, universities and organisations worldwide via his foundation, the Atlantic Philanthropies, Forbes Magazine reports.
The report stated that Feeney, reached his billionaire status by co-founding airport retailer Duty Free Shoppers. The business man was popular for leading the way with lifestyle of giving. The report suggests he believed in the idea of ‘Giving While Living’.
The idea encourages philanthropists to spend all their money during their own life-time to have better control over its use. In a pre-interview with Forbes, the business tycoon said that he was, in fact, very satisfied.
Under his Giving While Living vision, he has been able to do some hands-on charity and did not have to rely on funding a foundation post-death.
The billionaire added that he learned a lot along his journey and the idea of why not give it all (the wealth) away had struck as very appealing to him. He wanted to do it under his watch.
Feeney has been estimated to leave about $2 million (N767m) for his and his wife’s retirement and was said to have given all his money anonymously and made sure it stayed that way.
Currently, he lives in an apartment in San Francisco.