How rich is Chuck Feeney?
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Charles Francis Feeney (created April 23, 1931 in Elizabeth, New Jersey) is an Irish American businessman and philanthropist and the creator of The Atlantic Philanthropies, among the biggest private foundations on earth. He made his fortune as a cofounder, with Robert Warren Miller, of the Duty Free Shoppers Group. The idea of “duty free shopping”—offering highend concessions to voyagers, free of import taxes—was in its infancy when, along with Miller, Feeney founded DFS on November 7, 1960. DFS started operations in Hong Kong (where it keeps its corporate headquarters), after growing to Europe along with other continents. DFS’ first important breakthrough came in the early 1960s, when it procured the exclusive concession for duty free sales in Hawaii, letting it advertise its products to Japanese travelers.
DFS eventually grown to off-airport duty-free stores and large downtown Galleria shops, and became the planet ‘s biggest travel retailer. In 1996, Miller’s as well as Feeney’s interests were obtained by Louis Vuitton Mot Hennessy (LVMH), the French luxury goods group, for $1.63 billion. Miller still keeps a 31% share of the business.
In February 2011 Feeney became a signatory to The Giving Pledge. Moreover, now’s demands are really so great and diverse that sensible philanthropic support and positive interventions can have greater worth and impact now than if they’re delayed when the demands are greater.
Chuck Feeney Net Worth $2 Million Dollars