Feeney keen to help Ireland through slump

CHUCK FEENEY, the billionaire philanthropist, has indicated that his foundation is prepared to help Ireland through the recession.

Mr Feeney’s Atlantic Philanthropies has already given away $1.2 billion (€897 million) to Irish causes, mostly to third level institutions, since its inception in the 1980s.

Mr Feeney is the subject of an RTÉ documentary tonight in which he discusses his life and reasons for giving away his fortune.

When asked about the Irish recession, he replied: “Ireland is subject to good times and bad times. Tough times are coming . . . There is a logic in making things happen now, especially, if now, there are things out there that are necessary.”

Mr Feeney said Atlantic Philanthropies is a “spin-down foundation” which means that it has pledged to give away all the remaining $3 billion in the fund by 2016.

Mr Feeney (78) was born into an Irish-American family in New Jersey and made his fortune setting up duty-free shops in airports around the world.

He was the subject of a book by former Irish Timesforeign correspondent Conor O'Cleary, The Billionaire who Wasn't. Mr O'Cleary was an associate producer in the making of the documentary.

Though once obsessive about his privacy, he agreed to take part in the project to encourage other wealthy individuals to become involved in philanthropic activities.

“I’m not here to tell anybody what they should do with their money . . . but there is an obligation for those who have it to reach out to see what they can do. I hope people will try it, they will like it,” he explained.

The Secret Billionaire: The Chuck Feeney Story is on RTÉ 1 at 10.10pm.