We read an article recently that mentioned a man named Chuck Feeney, an Irishman that made his fortune in cognac, perfume and cigarettes sold from duty-free shops. He then made it his life’s mission to give away his entire $7.5 billion fortune while he was still living—a commitment that earned him the nickname the “James Bond of Philanthropy.”
Forbes published an article about Mr. Feeney in 2012 that is well worth the read entitled Chuck Feeney: The Billionaire Who is Trying to Go Broke.
He gave away his last $7 million in 2016 to Cornell University, leaving him a paltry $2 million to live on. Musing about Mr. Feeney, we found an article written in 2018 by Philip Taylor; we felt it was well worth sharing with our loyal readers.
Mr. Taylor notes that “the average American that makes $1 to $2 million only contributes about 3.2% to charity” but goes on to muse that he rarely gives much over 10% and admits why. You may relate.
He also has some sage but simple advice on how you can give to charity no matter how much you make. There are only 2 steps. It’s a good article.
Here it is.
On behalf of the Stewardship Foundation, it is our great pleasure to wish our friends, clients and mission-oriented non-profits, and all our “neighbors” a Happy New Year. Always know that we are here to serve your charitable giving and gift planning needs, and please refer us to a friend, non-profit or family member whom you think might benefit from our services.