Did you know Patrick Feeney is a businessman’s son from the United States? This piece lets you know Patrick Feeney’s net worth, parents, family, age, height, wife, partner and other information you need. But then, who is Patrick Feeney?
Bio
| Name | Patrick Feeney |
| Net Worth | $50 million |
| Occupation | Businessman |
| Father | Chuck Feeney |
| Mother | Danielle |
Patrick Feeney is an American business executive who is known as one of the five children of Billionaire, Chuck Feeney and Danielle, who is French Algerian. His father Charles Francis Feeney was born on April 23, 1931, until his death on October 9, 2023, at age 92.
Patrick’s dad was known as a businessman and philanthropist who made his fortune as a co-founder of the Hong Kong-based Duty-Free Shoppers Group. He was the founder of The Atlantic Philanthropies, one of the largest private charitable foundations in the world.
Prior to his death, his father Feeney gave away his fortune in secret for many years, until a business dispute resulted in his identity being revealed in 1997. Mr. Feeney gave away more than $8 billion in his lifetime.
Furthermore, the concept of “duty-free shopping”—offering high-end concessions to travelers, free of import taxes—was in its infancy when Mr. Chuck Feeney and his college classmate Robert Warren Miller started selling duty-free liquor to American servicemen in Asia in the 1950s. They later expanded to selling cars and tobacco and founded the Duty-Free Shoppers Group (DFS Group) in 1960.
DFS began operations in Hong Kong, later expanding to Europe and other continents. A breakthrough came in the early 1960s, when DFS secured a concession for duty-free sales in Hawaii, allowing it to market its products to Japanese travelers.
In addition, DFS eventually expanded to off-airport duty-free stores and large downtown Galleria stores and became the world’s largest travel retailer. By the mid-1990s, DFS was distributing profits of up to $300 million a year to Feeney, Miller, and two smaller partners.
Laura Bird writes in The Wall Street Journal, “The rich returns came about in large part because DFS, like most other retailers in Asia, took a far higher markup on Western luxury items than was the case in Europe and the U.S. In New York, a retailer might price a designer handbag at 2.2 or 2.3 times the wholesale price. But in Asia, the retail price was a standard three times wholesale.”
In 1996, Mr. Feeney and a partner sold their stakes in DFS to the French luxury conglomerate Louis Vuitton Moët Hennessy. Miller opposed the sale, and before a presumptive lawsuit could reveal that Feeney’s stake was owned not in fact by him but by The Atlantic Philanthropies, Feeney outed himself in a New York Times article written by Judith Miller. Atlantic made $1.63 billion from the sale.
His remarkable achievements have earned him some luxurious lifestyles and some fancy car trips. He is one of the richest and most influential billionaire sons in the United States
Patrick Feeney stands at an appealing height of 1.75m and has a good body weight which suits his personality.
Patrick Feeney Wife
As of September 2023, Patrick Feeney’s marital status is a mystery. The billionaire son rarely speaks about his wife and children.
Patrick Feeney Salary
Patrick Feeney’s salary per month and other career earnings are over $1 million dollars annually.
Patrick Feeney Net Worth
How much is Patrick Feeney worth? Patrick Feeney’s net worth is estimated at around $50 million. His main source of income is from his primary work as a businessman.