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Radical Personal Finance

747-How to Die Broke Like Billionaire Chuck Feeney Will

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Self-improvement, Business, Education, Investing

4.21.9K Ratings

🗓️ 21 September 2020

⏱️ 83 minutes

🧾️ Download transcript

Summary

Billionaire Churck Feeney has recently finished giving away his entire $8 billion fortune.

In today's show, we'll talk about whether you should copy him and how you could do it.

Joshua

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to Radical Personal Finance, a show dedicated providing you with the knowledge, skills, insight and encouragement you need,

0:05.1

deliver rich and meaningful life now, while building a plan for financial freedom in 10 years or less.

0:10.1

My name is Josh Rachitz, I am your host, and today we're going to talk about how you can die broke like billionaire, or shall we say, former billionaire Chuck Feeney did.

0:20.0

There was a Forbes article published on September 15, 2020 with the headline exclusive.

0:25.6

The billionaire who wanted to die broke is now officially broke.

0:29.4

Let me share with you the lead of the story.

0:32.2

It took decades, but Chuck Feeney, the former billionaire co-founder of retail giant duty-free shoppers

0:36.9

has finally given all his money away to charity. He has nothing left now and

0:41.2

he couldn't be happier.

0:43.1

Charles Chuck Feeney, 89, who co-founded airport retailer duty-free shoppers with Robert Miller

0:48.1

in 1960, amassed billions while living a life of monk-like frugality.

0:53.7

As a philanthropist he pioneered the idea of giving while living, spending most of your fortune

0:58.9

on big hands-on charity bets instead of building a foundation upon death.

1:03.5

Since you can't take it with you, why not give it all away?

1:06.0

Have control of where it goes and see the results with your own eyes.

1:09.6

We learned a lot.

1:10.6

We would do some things differently, but I'm very satisfied. I feel very good about completing this on my watch, Feeney tells Forbes.

1:17.0

My thanks to all who joined us on this journey and to those wondering about giving while living, try it, you'll like it.

1:23.2

Over the last four decades, Fini has donated more than $8 billion to charities,

1:27.7

universities, and foundations worldwide through his foundation, The Atlantic Philanthropies.

1:33.0

When I first met him in 2012,

1:35.0

he estimated he had set aside about $2 million for his and his wife's

...

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