CHUCK FEENEY, the reclusive Irish-American billionaire who has given more than €1.25 billion to projects on both sides of the Border, is winding up his charitable operations.
Atlantic Philanthropies, which was founded by Mr Feeney in 1982, is to complete grant-making by the end of 2016 and cease operations in 2020, its board decided last week.
The decision is being relayed to grant recipients from today, and some will be told their support is being discontinued before the 2016 deadline. However, no major Irish projects are affected in this way.
Mr Feeney said in a statement yesterday the focus of his charitable giving would now be sharpened to maximise the benefit that could be achieved with his remaining resources; €1.83 billion remains to be disbursed, of which €750 million is committed to existing projects.