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forbes - the billionaire who is trying to go broke

beethoven

Well-known member
http://www.forbes.com/sites/stevenbertoni/2012/09/18/chuck-feeney-the-billionaire-who-is-trying-to-go-broke/


9/18/2012 @ 8:00AM |45,298 views
Chuck Feeney: The Billionaire Who Is Trying To Go Broke

This story appears in the October 8, 2012 issue of Forbes.

On a cool summer afternoon at Dublin’s Heuston Station, Chuck Feeney, 81, gingerly stepped off a train on his journey back from the University of Limerick, a 12,000-student college he willed into existence with his vision, his influence and nearly $170 million in grants, and hobbled toward the turnstiles on sore knees. No commuter even glanced twice at the short New Jersey native, one hand holding a plastic bag of newspapers, the other grasping an iron fence for support. The man who arguably has done more for Ireland than anyone since Saint Patrick slowly limped out of the station completely unnoticed. And that’s just how Feeney likes it.

Chuck Feeney is the James Bond of philanthropy. Over the last 30 years he’s crisscrossed the globe conducting a clandestine operation to give away a $7.5 billion fortune derived from hawking cognac, perfume and cigarettes in his empire of duty-free shops. His foundation, the Atlantic Philanthropies, has funneled $6.2 billion into education, science, health care, aging and civil rights in the U.S., Australia, Vietnam, Bermuda, South Africa and Ireland. Few living people have given away more, and no one at his wealth level has ever given their fortune away so completely during their lifetime. The remaining $1.3 billion will be spent by 2016, and the foundation will be shuttered in 2020. While the business world’s titans obsess over piling up as many riches as possible, Feeney is working double time to die broke.

continue to link for article
 

TexasBred

Well-known member
You don't have to go to Ireland to find these folks. A number of very rich Americans are doing the same thing. Obama/Biden could learn from this fellow tho.
 

hypocritexposer

Well-known member
I wonder if this guy was hounded over the low taxes he paid, while earning this money?

Tax the "rich" more on their earnings and see if they are as charitable with their wealth.
 

hypocritexposer

Well-known member
beethoven said:
i would rather a fair distribution of wealth than a bunch of philanthropists.

So, if you and I got paid the same, but you saved yours and I spent mine, say on the horses. (you'd have more wealth) You would be okay with the government taking some of your wealth and giving it to me?
 

TexasBred

Well-known member
beethoven said:
i would rather a fair distribution of wealth than a bunch of philanthropists.

Please define "FAIR" as used in your comment?? And tell me....how often do you suggest we redistribute and how much do you think will be available for distribution next year?? And the next?
 

Red Barn Angus

Well-known member
Years ago I had an economics professor in college that said if you took all the wealth from those who had it and gave it away, that in 20 years the formerly wealthy folks would have it all back again. His theory was that they knew how to make money and the ones it was given to would just fritter it off and it would all come back. I thought it probably made some sense. Some will never work and save and invest and others will do all those things continually. Of course it couldn't be taken away from them every year like the White House wants now.
 

hypocritexposer

Well-known member
Red Barn Angus said:
Years ago I had an economics professor in college that said if you took all the wealth from those who had it and gave it away, that in 20 years the formerly wealthy folks would have it all back again. His theory was that they knew how to make money and the ones it was given to would just fritter it off and it would all come back. I thought it probably made some sense. Some will never work and save and invest and others will do all those things continually. Of course it couldn't be taken away from them every year like the White House wants now.


In this case we are dealing with someone that doesn't know the difference between income and wealth.
 

Tam

Well-known member
beethoven said:
i would rather a fair distribution of wealth than a bunch of philanthropists.

Would you mind telling us just how much of YOUR MONEY you would be willing to give a dead beat dad that figures it is easier to live off the government than to get a job and support his five kids from five different mommies?

Seems Liberals like you would rather OTHERS/CONSERVATIVES be forced to support government dependents but say nothing when YOUR OWN VP BIDEN gives a un-believably low amount of his income to charities. 1.4% wasn't it while Romney gave 30%?

If all those Hollywood Liberals cared as much as they would have everyone believe there would not be so many of them sitting in the catagory called 1%ers, as they would have given THEIR MILLIONS TO CHARITIES to support the food banks and soup kitchens that feed the poor. But NOPE they bank their hundreds of millions and make speeches about how they are willing to pay more in taxes to make themselves feel good about themselves. :roll:

Eva Longoria is a friggin hypocrite standing up there on the Dem. Convention stage preaching she would pay more. As if that was true nobody on the face of the earth is stopping her from stroking a check and giving HER MONEY to the government to help with the debt her hero Obama is tagging on everyone elses grandchildren. Nobody is stopping her from giving 100% of HER MONEY to charities to help as many people as possible but NOPE she preaches to others about giving up THEIR MONEY and then heads off to buy herself yet another designer gown to wear to her next big celeb. party.

Yep Liberals are willing to donate OTHER PEOPLES MONEY to pay for the poor but not their own.
 
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