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In the world of finance, very few people are more well-known and respected than Warren Buffett. The Oracle of Omaha, as he is also known, is the greatest investor we have seen in a century and continues to be the shining star whom investors worldwide look to for guidance. But who does Buffett admire and look up to? His name is Chuck Feeney.

Who is Chuck Feeney? He is the biggest billionaire (or should I say former billionaire?) that you have never heard of. Feeney created his wealth by co-founding a chain of duty-free stores and late made it his promise to donate every cent he made to charitable causes.

Basically, after spending his whole career amassing a large fortune, his next goal was to give it all away. For years Feeney tried to do this as covertly as possible, donating large sums anonymously and avoiding the public eye as best he could. But, as we all know, very little can stay hidden from the public eye for long. At the age of 89, Feeney finally reached his goal by giving away his entire fortune which totaled $8 billion.

Warren Buffett follows the steps of his hero, forms the Giving Pledge

Now billionaires like Buffett and Bill Gates have pledged similar goals. At a dinner in New York attended by some of the nation’s wealthiest people, Buffett and Gates announced the Giving Pledge. The pledge convinced 210 (and growing) other billionaires to commit to giving away at least half of their net worth.

In an interview with Forbes Magazine, Bill Gates said, “Chuck Feeney is a remarkable role model.” Buffet has been quoted saying, “He is my hero. He is Bill Gates’s hero. He should be everybody’s hero.”

Growing up in Elizabeth, New Jersey, and serving in the U.S. Air Force during the Korean War, Feeney began accumulating his wealth selling tax-free alcohol to American sailors stationed in European countries.

Expanding his business around the world, Feeney was a billionaire by 1988. However he quickly (and quietly) started shifting money out of his personal holdings and into charities. His cover was blown in 1997 when his company was sold to LVMH.

While his cover might have been blown, Feeney gained a powerful advantage by catching the eye of other ultra-wealthy men and women like Buffett, Gates, and Oprah Winfrey. His generosity inspired them to give back to the world the same way he had been doing.

Feeney has retained just .025 percent of his net worth (about $2 million) to make sure he and his wife can still live comfortably in their golden years but comparatively, this is minuscule.

“Chuck has set an example not only for people of my age but also for younger generations,” Buffett said. “He will be an example, 100 years from now or 200 years from now.”

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