- The Atlantic Philanthropies (AP) was a private foundation
- It was created in 1982 by Irish-American businessman Chuck Feeney
- Find more facts about it below
| Founded: | 1982 | | How old is The Atlantic Philanthropies in 2024? / Age: | 42 years
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The Atlantic Philanthropies Net worth 2024 (estimated)
| | How much is The Atlantic Philanthropies worth? | $8,000,000,000
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What is The Atlantic Philanthropies? / Facts
- Founding - Irish-American businessman Chuck Feeney established the Atlantic Philanthropies in Bermuda in 1982.
Feeney, who co-founded Duty Free Shoppers (DFS), transferred all of his assets and his entire 38.75% ownership stake in DFS to the Atlantic Philanthropies in 1984.
- First donation - The organization made its first grant of $7 million that same year to Cornell University.
- Anonymity - For the first 15 years of Atlantic's existence, donations were made anonymously, and organizations receiving grants were required to sign contracts agreeing to not reveal the source of their donations.
Atlantic's charitable giving remained anonymous until 1997, when a business dispute Feeney was involved in forced him to disclose the funding for Atlantic.
- Activities - The foundation concentrated its donations in the areas of aging, children and youth, population and health, and reconciliation and human rights.
Major grants and donations have been directed to such countries as: Australia, Northern Ireland, Republic of Ireland, United States and Vietnam.
- Donations over the years - The Atlantic Philanthropies donated over US$8 billion from 1982 to 2020.
- Dissolution - The Atlantic Philanthropies was a limited-life foundation (following plans for a spend-down put forward in 2002), which stated it would close its doors upon the successful completion of its task of giving away to charity all of founder Chuck Feeney's fortune (except for $2 million he had set aside decades earlier for the retirement of himself and his wife).
In 2020, Feeney announced that the foundation had successfully achieved its purpose, and on September 14, 2020, he signed the documents to officially close the nonprofit in an online ceremony.
- Social media stats as of October 2020:
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Last update: 27 October 2020
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Net worth: $8,000,000,000
