Chuck Feeney, the billionaire who owned duty-free shops worldwide and donated almost his entire $8 billion fortune to charity, has passed away at the age of 92. In his final years, Feeney lived very modestly in a rented apartment and wore a $10 watch. He fulfilled his commitment to give away all his wealth before his death, leaving only $2 million for himself. Feeney's donations benefited universities, medical institutions, scientific projects, human rights organizations, and other humanitarian causes around the world. He was praised by Bill Gates and Warren Buffett for his philanthropy. Feeney's decision to give away his fortune came after he began to question the morality of having so much wealth.
In a similar vein, Geoffrey Holt, a caretaker of a mobile home park in Hinsdale, New Hampshire, lived a simple life and was known for his unassuming nature. However, after his death, it was revealed that he was a multimillionaire and had left his entire fortune of $3.8 million to the town of Hinsdale. The money is intended to benefit the community in the areas of education, health, recreation, and culture. The town is considering various ideas for utilizing the funds, such as upgrading the town hall clock, restoring buildings, or setting up an online drivers' education course. Holt's sister believes that he may have saved the money as a way to compete with their father's expectations. Despite his wealth, Holt lived a frugal and unassuming life, and his main goal was to go unnoticed.
Ken Griffin, founder and CEO of Citadel, has also made a significant donation. He has donated $2.5 million to the Call of Duty Endowment, making it the largest-ever private donation to the organization. The Call of Duty Endowment, named after the video game franchise, has placed over 125,000 veterans into jobs since its foundation in 2009 and aims to place more than 15,500 veterans into jobs in 2024. Griffin and his philanthropic venture, Griffin Catalyst, have a history of supporting service members and their families. Last year, there were 241,000 unemployed veterans, with 60% of them between the ages of 25 and 54.
Jim Simons, a math professor turned hedge fund founder, died at age 86 at his home in Manhattan. He founded hedge fund Renaissance Technologies in 1982 and created its Medallion Fund in 1988. Renaissance now manages about $50 billion in assets, and its Medallion Fund charges a 4% management fee and performance fees ranging from 36% to 44%. Simons and his wife Marilyn have given more than $6 billion away via their foundation, making them the sixth-most philanthropic givers in America. The Simons Foundation primarily supports education and math and science research. Last year, the Simons pledged $500 million over seven years to Stony Brook University, the second-largest donation ever to a public college. They also founded Math for America, which provides stipends for 1,000 STEM teachers every year in New York City. The foundation has given millions to the National Museum of Mathematics and supports cancer and autism research. The Simons Foundation contributed $90 million to the Simons Observatory in Chile, which will study the cosmic microwave background.
Ivan Boesky, a Wall Street titan who inspired Gordon Gekko's 'greed is good' speech, has died at the age of 87. Boesky made a $100 million fortune speculating on stocks using inside information and became the archetype of the savvy speculator during the 1980s. He admitted to insider trading and spent two years in prison. Boesky's case set off shock waves in the US and confirmed fears about how capital markets worked. He was believed to have been the model for the character of Gordon Gekko in the film 'Wall Street'. Boesky's death was reported by his daughter, Marianne Boesky.
Tony O'Reilly, a giant in sport, business, media, and philanthropy, has also made significant contributions. He supported peace, culture, and charity in Ireland, inspiring others like Chuck Feeney and Loretta Brennan Glucksman. O'Reilly played a vital role in seeking American support for the unification of Ireland and encouraging inward investment to create jobs. He co-founded the American Ireland Fund with Dan Rooney to channel Irish American generosity towards peace projects in Northern Ireland. O'Reilly also mobilized his contacts to open doors for the IDA and attract American investors to Ireland. He believed in globalization as a force for global peace and prosperity. O'Reilly's career included managing Heinz and organizing the South Africa Free Elections Fund to support Nelson Mandela. He faced financial challenges due to the digital revolution and his attempt to save Waterford Glass. Despite this, he is now receiving recognition for his service to Ireland.
These stories highlight the extraordinary generosity of individuals who chose to use their wealth to make a positive impact on the world. Feeney, Holt, Griffin, Simons, Boesky, and O'Reilly all lived modest lives and prioritized giving back to their communities and supporting causes they believed in.