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Veteran American businessman Chuck Feeney signed the documents to dissolve his Atlantic Philanthropies foundation which provided more than $ 8 billion (€ 6.8 billion) in grants over the past 38 years.
This included $ 1.3 billion for projects in the Republic and $ 570 million for projects in Northern Ireland.
Feeney signed the dissolution papers at his San Francisco office in the presence of his wife Helga and Christopher Oechsli, president and CEO of the foundation.
Wealth
Established in 1982 to disburse much of Feeney’s wealth, Atlantic Philanthropies awarded 6,500 grants during the period, with its last financial commitment made in late 2016. It has been in liquidation mode for several years.
Feeney received tribute from political leaders for his philanthropy over the past four decades. Nancy Pelosi, Speaker of the US House of Representatives, congratulated him for the “extraordinary contributions” made to “build a brighter, fairer, and equal future for all.”
“You have been instrumental in providing the significant resources necessary to promote the common good and support vulnerable communities and the pioneering organization at home and abroad,” he said in a letter to the businessman, who made his fortune with free shopping. taxes.
Taoiseach Micheál Martin said: “Atlantic Philanthropies has had a truly remarkable impact on Ireland over the last four decades. Chuck Feeney’s vision for the future, his extraordinary generosity and selfless leadership have transformed the lives of many thousands of Irishmen, young and old alike.
“In particular, its transformative impact on higher education and research. . . he has left a powerful legacy to the nation and generations to come. “
Help
In the Republic, the Limerick University Foundation received the largest grant with $ 181.5 million, followed by the Trinity Foundation with $ 162.1 million, the Dublin City University Education Fund with 128 $ 2 million, the University of Cork Foundation $ 91.2 million and the University of Galway Foundation $ 79.5 million. .
Other notable grants include $ 18.9 million to the Health Services Executive, $ 15.6 million to the Barnados children’s charity, and $ 10.4 million to the Irish Hospice Foundation.
In 1984, Feeney secretly transferred his stake in Duty Free Shoppers to The Atlantic Foundation, which later became The Atlantic Philanthropies. Since then, the foundation has provided funding for projects in Australia, Bermuda, Cuba, Ireland, South Africa, the United States, and Vietnam.
“If you give while you’re alive, the money goes to work quickly, everyone can see the action and the results, that’s what it’s all about,” Mr. Feeney explained a few years ago.
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