While I was on vacation in 2007, sitting on a beach in Mexico, I read the most incredible book.
It was called The Billionaire Who Wasn’t and it was the true story of Chuck Feeney, a billionaire who gave away all of his money — anonymously.
In 1982, after giving his family a very modest amount, Mr. Feeney gave all of his wealth to his foundation, Atlantic Philanthropies. He made it a “spend down” foundation meaning it had to give it all away and close down by 2016 – which it did.
Mr. Feeney gave away $8 billion. Anonymously.
Afterwards, he was left with no car. No house. Just one pair of shoes and a $15 watch. He used to say all he needed was a grilled cheese with tomato.
I couldn’t believe anyone – never mind a billionaire – could be so selfless and altruistic.
New Jersey born Chuck Feeney had been giving away huge amounts of money anonymously for decades when he learned that his identity would soon be exposed. So, he agreed to let a Wall Street Journal reporter write a book in the hopes it might inspire people.
He certainly inspired me.
I was so moved by his story, when I got back to New York, I sent an email to Mr. Feeney via his foundation. In my email I told him how much I admired him and wanted to be like him. I also told him all about Smile Train and how we were providing 100,000+ surgeries a year. I hoped I could meet him one day and shake his hand.
Mr. Feeney sent me a reply email two weeks later. And one week after that I was eating a cheeseburger at P.J. Clarke’s in NYC sitting across from a man who is probably the greatest philanthropist to ever live.
It was such an honor. And I was so very lucky to be there.
Mr. Feeney is such a nice man. Humble. Charismatic. Smart as a whip. He was as down-to-earth and polite as could be. He asked me a lot of questions about Smile Train, what we did and why I started it. The fact that he would take the time to meet with me says a lot about him.
When I asked him his philosophy of “giving while living”, he explained that philanthropy is much more satisfying than buying another yacht or another house. And he added, “giving while living” is more rewarding than “giving while dead.”
He told me the more he gave, the more he enjoyed it.
That really struck a chord with me. I have always said that helping other people is the most selfish thing you can ever do – because you always get back more than you give.
After our lunch, as we shook hands and said goodbye, Mr. Feeney encouraged me to go see his Atlantic Philanthropies foundation and apply for a grant.
He seemed to think they would be interested in what we were doing.
I got very excited at this enormous opportunity. At the time, his foundation had 9 years left before they closed their doors — and many billions of dollars that they had to give away.
But it wasn’t to be.
I tried for two years to get a meeting with them. But they never responded to my many letters and phone calls.
I am very proud that Chuck Feeney is an Irish American. (Both our middle names are Francis.). He grew up outside of New York City in a family of very modest means. His mother was a nurse and his father was an insurance underwriter.
During the Korean War, Chuck joined the U.S. military. After the war, Chuck attended Cornell University courtesy of the G.I. bill which paid all his expenses. He was the first in his family to go to college. He sold baloney sandwiches for spending money. They called him “sandwich man.”
Afterwards he started various businesses including the most well-known and uber successful, Duty Free Shopping. Mr. Feeney was a hard worker, a natural entrepreneur and a visionary. Ultimately, he had the talent and the work ethic to become a rare, self-made billionaire.
He had it all…but it wasn’t enough.
It was only after he gave away all of his money that Mr. Feeney found real happiness.
This is from his letter to Bill and Melinda Gates and Warren Buffett:
I cannot think of a more personally rewarding and appropriate use of wealth than to give while one is living – to personally devote oneself to meaningful efforts to improve the human condition.
More importantly, today’s needs are so great and varied that intelligent philanthropic support and positive interventions can have greater value and impact today than if they are delayed when the needs are greater.
I urge those who are taking up the Giving Pledge example to invest substantially in philanthropic causes soon and not postpone their giving or personal engagement.
Chuck Feeney was the real deal. A very quiet, humble, selfless man who knew what mattered most in life. And whose generosity changed the lives of millions of people.
Including mine.