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Jack Welch, one of the most celebrated chief executives of his generation, says his earliest money-related memory goes back to his days as a 9-year-old caddy.

The retired General Electric CEO recalled "having that buck and a half and being able to go to the store and buy tons of bubble gum and whatever," he told USA Weekend for Sunday's edition.

Welch, 65, retired earlier in the month after 20 years at the helm at GE, which was transformed under his leadership into the world's most valuable company.

Welch's early lessons about the value of a dollar paid off as he engineered a lucrative corporate career. But in the process, he learned other important lessons -- about generosity and charity.

"The nice thing about having money is that you can give it away," he said.

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