Luck comes nearly 20 years after retirement
A former banking executive thought he had won a modest CA$25,000—until a second glance revealed three extra zeroes.
Charles Coffey, 81, had just secured a CA$25 million ($17.4 million) lottery jackpot in Ontario, a surprise windfall he now plans to use in support of charitable causes, Bloomberg reported.
Coffey spent more than four decades at the Royal Bank of Canada (RBC), where he held leadership roles in banking and human resources before becoming executive vice president of government affairs and business development.
After retiring in 2006, he remained active in philanthropy, particularly in areas supporting marginalized groups.
A longtime advocate for community causes, Coffey has worked to encourage corporate philanthropy and support initiatives focused on children’s education. In 2003, he was appointed to the Order of Canada in recognition of his contributions.
Speaking about his lottery win in a statement from the Ontario Lottery and Gaming Corp. (OLG), he said the funds provide him with an opportunity to continue supporting the causes he has been involved with for many years.
“I believe in the premise of a hand-up versus a handout and want to support organizations that need a stronger voice,” said Coffey.
Before making any charitable commitments, Coffey said his immediate plan is to take his family on vacation.
Bloomberg highlighted that, throughout his career, he has consistently emphasized sustainable, long-term impact over short-term aid.
His advocacy work began in 1989 when he moved from RBC’s Toronto headquarters to Winnipeg to lead the bank’s Manitoba operations. There, he became engaged in discussions about social and economic challenges faced by Indigenous communities. His work in this area led to his recognition as an honorary chief, according to the University of Winnipeg.
Following his retirement, RBC established the Coffey Fund to support Indigenous children’s education, continuing the initiatives he championed during his career.
What are your thoughts on Coffey’s approach to philanthropy? Share your opinions in the comments.
