DFS Group co-founder Charles (‘Chuck’) Feeney has demonstrated his immense generosity once again with his latest $65m donation to the London School of Economics and Political Science (LSE), which is now charged with using this money to support leaders tackling inequalities.

 

The money – the largest free donation in the LSE’s history – has been donated through Feeney’s foundation known as ‘The Atlantic Philanthropies’ which was established in 1982 and lives with the philosophy Feeney coined as ‘Giving While Living’.

 

Feeney made his money from DFS Group (and multiple other investments) in the sixties and beyond, after plugging into the demand for duty free goods from Japanese travellers after they were permitted to travel abroad following the 1964 Tokyo Olympic Games.

 

HUGE GENEROSITY

Feeney’s support of his own foundation has already resulted in donations of nearly $8bn over the last 34 years to improve the lives of disadvantaged and vulnerable people. The worthy body has also helped disadvantaged people all over the world and is finally expected to exhaust its contributions later this year.

 

Developed by LSE’s International Inequalities Institute (III) and led by III co-Directors Professors Sir John Hills and Mike Savage, the 20-year fellowship initiative will train the next generation of leaders seeking to influence and facilitate changes in global policy and practice to enable greater equality, opportunity and outcomes for all.

 

It is expected that well over 600 Atlantic Fellows will be developed across geographic and disciplinary boundaries over the duration of the programme.

 

Commenting, Professor John Hills, co-Director of the III at LSE said: “Inequalities, in their multiple dimensions, pose urgent challenges to individual opportunity, societal cohesion and the basic functioning of governments and democracies.

 

PROMOTING EQUALITY AT ALL TIMES…

“There is a growing need to support effective leaders that understand the multidimensional challenges of inequality.

 

“We are hugely grateful to The Atlantic Philanthropies for their generous support in creating a long-term programme that will build and sustain a network of committed future leaders working across a wide range of fields in order to drive through real social change.”

 

[Charles Feeney sold out his founding share of DFS Group to Bernard Arnault’s publicly-listed French luxurygoods group LVMH in 1996 – along with the minor holding held by shareholder Anthony Pilaro – so delivering majority control of DFS to the French company-Ed].

 

For full details of this recent generous donation to the LSE by Charles Feeney, please click here: http://www.lse.ac.uk/newsAndMedia/news/archives/2016/06/AtlanticFellowsprogrammeAnnounced.aspx