“I want that last check to bounce,” says philanthropist Charles F. Feeney in a recent New York Times article which reports that Mr. Feeney’s is working hard to spend his last $1.5 Billion–a goal he hopes to reach by 2016.
“Just as he did with his first $6 billion, it will all be awarded through Atlantic Philanthropies, the group of private foundations he created in 1982 and managed to run anonymously for its first 15 years, even though it was one of the largest sources of grants in the United States, Ireland, South Africa and Vietnam…
When the last of its money has been spent and it closes its doors sometime around 2020, Atlantic Philanthropies will be by far the largest such organization to have voluntarily shut itself down, according to Steven Lawrence, director of research for the Foundation Center. (The much bigger Bill and Melinda Gates Foundation plans to shut down 50 years after its founders die.)”
One of the 81 participants who’ve signed the Giving Pledge, “Warren Buffett called Mr. Feeney the ‘spiritual leader’ of a campaign urging extremely wealthy people to donate their money.”
Read the New York Times articles “Philanthropist Wants to Be Rid of His Last $1.5 Billion” online.