Billionaire philanthropist to stick by Ireland

Billionaire philanthropist Chuck Feeney has said 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 since its inception in 1982.

Mr Feeney was the subject of an RTÉ documentary this week 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.”

Atlantic Philanthropies 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.

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.