World Report: January 31, 1997 Vol.2 No.16

A Gift For Giving

For years, big surprises were delivered to places like Trinity College in Ireland and Operation Smile, a medical group in Virginia that helps kids. Someone was secretly giving millions of dollars to charities and colleges.

The mystery man? New Jersey billionaire Charles Feeney. He does not own a house or car and wears a $15 watch. But Feeney has given away more than $600 million.

Feeney was not born rich. However, a career owning duty-free shops in airports earned him $4 billion, and he began anonymously to give away pieces of his fortune. "I simply decided I had enough money," Feeney told the New York Times last week, ending 15 years of secrecy.

Feeney finally spilled the beans because the sale of his shops would have revealed his generosity anyway.

More than $3 billion is left in Feeney's foundations. At least future recipients will know whom to thank.


Feeney gave to schools, kids, the poor.

Colleges 47%
International Groups 24%
Children and Youth 15%
Supporting Charity 8%
Aging & Health 4%
Other 2%

Source: Atlantic Philanthropic Services