American businessman Chuck Fini spent $ 8 billion on charity - almost everything that earned for life

He distributed money for 38 years, of which 13 years - secretly

On September 14, an 89-year-old American businessman and philanthropist Charles (Chuck) Fini signed documents on the closure of his charity organization Atlantic Philanthropies. She worked for 38 years, and through her, Finnish spent almost all the money he had earned on charity - $ 8 billion.

Chuck Fini was born in 1931 in an American-Irish family in the city of Elizabeth, New Jersey. He served in the Air Force during the Korean War, and after it entered Cornell University for benefits for veterans. After graduation in 1956, Finni took up business-he began to sell alcohol-so-so-taxed alcohol for sailors of the Atlantic Fleet of the US Navy. Enterprising finis sometimes recognized information about the next point of purpose of ships from prostitutes.

Soon, Finnish expanded the business. He invited three more partners and began to develop the Duty Free Shoppers duty -free chain of duty -free shops. The business received a powerful impetus in 1964, when Japan again allowed its citizens to travel abroad (this ban was introduced after the Second World War). Duty Free Shoppers sold to Japanese tourists cigarettes, cognac and bags, earning millions of dollars. Things were going so well that, having decided in 1976 to open a store on the small island of Saipan in the Pacific Ocean, Finni and his partners themselves built the airport there.

In 1988, Forbes magazine put Finni in 31st place in the list of richest people in the United States, estimating its condition at $ 1.3 billion. But in fact, this money did not belong to the businessman. Four years earlier, he transferred his share to the Duty Free Shoppers - 38.75% - his charity organization Atlantic Philanthropies. The transfer of assets was formalized secretly, only the closest were known about it. Finni did not reveal himself, supporting certain projects through Atlantic Philanthropies. The businessman continued to lead his previous life and manage the Duty Free Shoppers. He loved to earn money, but did not need it when they were already earned, he wrote about him Forbes in 2012.

The businessman understood that Atlantic Philanthropies only works thanks to the income of Duty Free Shoppers, and suggested that the most successful years of the company was already behind. He began to think about leaving the business. In 1997, Finni and his partners sold their shares in the Duty Free Shoppers concern LVMH Bernard Arno (now this is one of the richest people in the world). Then Finni first publicly spoke about his charitable activity. He had to do this, since the lawsuit filed due to the sale of the company would reveal his anonymous donations. At that time, Atlantic Philanthropies has alreadydistributed $ 600 million. For the secrecy with which Finni donated money, Forbes in 2012 called him James Bond from charity.

Finni decided to give out all his condition throughout his life. “It’s much more fun to give it while you are alive than when you are dead,” Atlantic Philanthropies quotes his words. The businessman invested in large projects, which, in his opinion, could bring a big return. Atlantic Philanthropies donated $ 3.7 billion for education and scientific research (of this money, almost a billionaire received a native university for finished), 870 million for human rights, more than 700 million for health care. The organization supported the AIDS fighting in South Africa, the abolition of the death penalty in the United States and the development of universities in Ireland. In total, she gave out 6,500 grants, the latter in 2016 (in recent years, the organization was in the process of liquidation).

Finni approached charity about the same as business. Atlantic Philanthropies requested detailed business plans among the recipients and demanded a report on the money spent. If the projects were axle, financing has been cut off. To increase the return on invested funds, Finni invited the state to participate. For example, in 1997, he promised to allocate $ 100 million to Irish universities if the government of Ireland does the same. It worked. Fini did not allow to hang signs with his name on the buildings open with his money, preferring to involve other philanthropists to the project that would be happy to pay for such a privilege.

It was Finnish who inspired the financier of Warren Buffett and the founder of Microsoft Bill Gates, who are considered one of the largest philanthropists of our time, to create an oath of gift in 2010. Rich people join it, who undertake to direct most of their condition to charity - during life or in a will. At the moment, more than 200 millionaires and billionaires from around the world have publicly joined the “Gift Oath”.

In 2012, in a conversation with Forbes, Finni estimated his fortune at about $ 2 million - that’s how much he set aside for himself and his wife. The businessman used to live quite modestly: he did not fly a business class, did not have his own car and wore casio inexpensive watches. In 2018, on the wall of his apartments in San Francisco, where he invited Forbes for the next interview, a sign “Congratulations to Chuck Fini with a transfer of $ 8 billion for charity” hung .

Olga Korelina