Current:Home > InvestShe asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with.-LoTradeCoin
She asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with.
View Date:2024-12-23 19:22:01
Last year, heiress Marlene Engelhorn presented a question to her fellow Austrians: "How should I spend my 25 million euro inheritance?" Engelhorn, who comes from a European business dynasty, said she would choose 50 strangers from different demographics to brainstorm ways for her to use her money – and now, their spending plan has been released.
Englehorn sent invitations to 10,000 randomly-selected Austrians, asking them to complete a survey. She narrowed the survey participants to 50 council members and tasked them with distributing 25 million euros — more than $27 million — to those who need it, since Austria doesn't impose taxes on wealth and inheritance.
The diverse council included people from different ages, incomes, education levels and even attitudes on wealth distribution. They were moderated by a team of eight and were also advised by academics and experts.
After meeting over six weekends, the team of 50 people, called "Guter Rat" or Good Council, decided to distribute the inheritance to 77 initiatives, including Tax Justice Network, Attac Austria, the Momentum Institute and the World Inequality Lab.
They decided to use the money to fight against poverty-related illness as well as protect women from violence. "Poor makes you sick and sick makes you poor," said council member Dietmar Feurstein, quoting from the council's deliberations.
They are donating some of Englehorn's inheritance to women's shelters, the deaf association and inclusive soccer clubs.
Another area of focus – housing, integration and education – was brought to the table by 17-year-old council member Kyrillos Gadall. They chose to donate to organizations that work to obtain affordable housing for those in need.
They also wanted to focus on migrants and refugees by supporting language and other educational courses as well as organizations that advocate for better access to health care and working conditions.
"In summary, the result is as diverse as the council itself," said project manager Alexandra Wang. "Initiatives that directly support those affected or tackle the causes of the problem were supported. Both small and large organizations were considered, as well as young initiatives and long-established organizations."
She said all the decisions had one thing in common: "They want a fairer society. They want everyone to live well together. And they want to support those who are discriminated against."
Caitlin O'KaneCaitlin O'Kane is a New York City journalist who works on the CBS News social media team as a senior manager of content and production. She writes about a variety of topics and produces "The Uplift," CBS News' streaming show that focuses on good news.
veryGood! (675)
Related
- As the transition unfolds, Trump eyes one of his favorite targets: US intelligence
- What the debt ceiling standoff could mean for your retirement plans
- Residents and Environmentalists Say a Planned Warehouse District Outside Baltimore Threatens Wetlands and the Chesapeake Bay
- More shows and films are made in Mexico, where costs are low and unions are few
- Tom Brady Shares How He's Preparing for Son Jack to Be a Stud
- Welcome to America! Now learn to be in debt
- A New GOP Climate Plan Is Long on Fossil Fuels, Short on Specifics
- The Indicator Quiz: Banking Troubles
- My Little Pony finally hits the Toy Hall of Fame, alongside Phase 10 and Transformers
- These Clergy Are Bridging the Gap Between Religion and Climate
Ranking
- Special counsel Smith asks court to pause appeal seeking to revive Trump’s classified documents case
- Durable and enduring, blue jeans turn 150
- In Africa, Conflict and Climate Super-Charge the Forces Behind Famine and Food Insecurity
- Here's what could happen in markets if the U.S. defaults. Hint: It won't be pretty
- DWTS’ Sasha Farber and Jenn Tran Prove They're Closer Than Ever Amid Romance Rumors
- Adele Is Ready to Set Fire to the Trend of Concertgoers Throwing Objects Onstage
- Wildfire Pollution May Play a Surprising Role in the Fate of Arctic Sea Ice
- Anthropologie 4th of July Deals: Here’s How To Save 85% On Clothes, Home Decor, and More
Recommendation
-
Melissa Gilbert recalls 'painful' final moment with 'Little House' co-star Michael Landon
-
Amazon Shoppers Swear By This $14 Aftershave for Smooth Summer Skin—And It Has 37,600+ 5-Star Reviews
-
In Africa, Conflict and Climate Super-Charge the Forces Behind Famine and Food Insecurity
-
Meghan Trainor Gives Birth, Welcomes Baby No. 2 With Daryl Sabara
-
Vikings' Camryn Bynum celebrates game-winning interception with Raygun dance
-
These Clergy Are Bridging the Gap Between Religion and Climate
-
What if AI could rebuild the middle class?
-
Too Hot to Work, Too Hot to Play