Duty free mogul Chuck Feeney made it his life's mission to secretly give away his billions to worthwhile causes.
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9th February, 2021 08:01 IST
Kakao Talk CEO From South Korea Vows To Donate Half Of All His Assets For social Cause
Billionaire s Kakao shares generate third-quarter revenue of 1.1 trillion Won ($926 million), while he also makes wealth off the search engine Naver.
South Korea s top mobile messenger operator Kakao Corp on February 8 said that its CEO will donate more than half of his 10 trillion won ($8.9 billion) assets. In a message dispatched to Kakao s employees, Kim Beom-Su said that he has pledged to give in charity his wealth valued at over 5.7 trillion won, for social welfare cause. This would include 12.5 million shares of Kakao, the CEO said, according to South Korea’s Yonhap News Agency. Billionaire Kim’s wealth had recently risen to $7.9 billion, meanwhile, he ranks 332nd on the Bloomberg Billionaires Index. A discussion for allocation of the donation is ongoing, and the company will make a formal announcement in days ahead, according to Yon
This billionaire deliberately went broke this year
By lovemoney staff of Lovemoney |
From nothing to billions and back again
Chuck Feeney was a billionaire. But was is the operative word here. Click or scroll through to read the incredible story of the man who had it all, but chose to live without it. All dollar amounts in US dollars. © Courtesy atlanticphilanthropies.org
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Among the celebrity philanthropists who donate extreme amounts of money to education and lifting others, Chuck Feeney’s name is not as well-known as Bloomberg, Gates or Buffett.
Those billionaires Michael Bloomberg, Bill Gates and Warren Buffett are highly recognizable names of great wealth, and their efforts are well-known.
But Feeney, 89, has donated more than $8 billion in the past 38 years more quietly, espousing the slogan “Giving While Living” through his Atlantic Philanthropies (AP) organization, “to advance opportunity and promote equity and dignity.”
His intent has been so successful that he has depleted the wealth he accumulated in his lifetime, and his foundation closes this year.
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