They gave it all away.
Chuck Feeney and Yves Chouinard are my philanthropic heroes. Who are yours?
I love the stories of Chuck Feeney and Yves Chouinard. They built two household brands in Duty-Free Shops and Patagonia, then pretty much gave everything away. Like, billions of dollars, all to causes that they believed in, leaving a lasting impact on the world in the process.
Chuck Feeney was like the “James Bond of philanthropy," and built his $8B fortune through the Duty-Free Shoppers Group and donated almost all of it to his foundation, the Atlantic Philanthropies. His foundation has supported a wide range of causes, including education, health care, and human rights. Feeney's philosophy of "giving while living" has set an example for others to follow, proving that it is never too early to start giving back.
I learned about Chuck Feeney while I was working on behalf of Cornell Tech, a collaboration between the Technion - my employer at the time - and Cornell University. Feeney committed $350 Million (yes, you read that correctly) to form Cornell Tech, one of the most audacious projects in higher education. At the time I had no idea who he was or what Atlantic Philanthropies was all about, but it’s one of those stories that needs to be told.
Feeney was the “Giving While Living” O.G. He never forced his philosophy on anyone, but he fervently advocated for the idea that wealthy individuals should donate the majority of their wealth to philanthropy during their lifetime, so they can experience the immense satisfaction of not only making a difference, and seeing it happen in real-time. Feeney is best known for the quote,
“It’s a lot more fun to give while you’re alive, than to give while you’re dead.”
His philosophy inspired countless OpEds with headlines like, “A True Saint”, “We Shall Not See His Like Again” and “One of the Most Remarkable Men I Have Ever Met”. What a legacy, but tragically - he’s the exception, not the rule.
And the same story is evolving for Yves Chouinard, the founder of Patagonia, another iconic business leader whose impact on the planet won’t be defined by those comfy puffy coats and vests. Hell, his Wikipedia page defines him as “an American rock climber, environmentalist, philanthropist, and outdoor industry businessman.” His business is the FOURTH thing listed!
Chouinard’s been on a one-man mission in support of environmental causes, the protection of public lands, and the promotion of sustainable business practices. He created the 1% for the Planet initiative, which encourages businesses to donate 1% of their profits to environmental causes. If there were such a thing as a superhero for the planet, it would be Yves. But it comes from a dark place. Chouinard says, “I’m kind of pessimistic about the fate of this planet…We’ve given away $200 or $300 million over the years, but I’m always thinking, ‘What more can I do?”
So when his kids showed no interest in making puffy vests for a living, he decided to give Patagonia away - all $3B worth - to a trust dedicated to fighting the climate crisis.
(And I think he answered his question)
These are people who believe in the power of giving, who see needs and turn towards them rather than away, and who understand their success can be used to advance other causes - which will outlive them, and all of us. But most people have never heard of them. That’s because every day we read stories about Elon Musk, Larry Ellison, Peter Thiel, and other “successful” billionaires. We read about their desire for political or social control, quest for global admiration, or political fealty. But we never - ever - hear about their vision for others, their compassion, care, or consideration for anything beyond what feeds their ego.
I sincerely hope that history reflects back unkindly on most modern billionaires.
But not Chuck and Yves, those guys rock the house.