Current:Home > ContactShe asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with. -Momentum Wealth Path
She asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with.
EchoSense View
Date:2025-04-10 11:53:53
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! (691)
Related
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- Lake Minnetonka just misses breaking 100-year record, ice remains after warm winter
- National Republican Chairman Whatley won’t keep other job leading North Carolina GOP
- Women’s roller derby league sues suburban New York county over ban on transgender female athletes
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Lake Minnetonka just misses breaking 100-year record, ice remains after warm winter
- Airbnb bans indoor security cameras for all listings on the platform
- African American English, Black ASL are stigmatized. Experts say they deserve recognition
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Don Julio 1942 was the unofficial beverage of the 2024 Oscars, here's where to get it
Ranking
- The Best Stocking Stuffers Under $25
- Dog kills baby boy, injures mother at New Jersey home, the latest fatal mauling of 2024
- Wife accused of killing UConn professor and hiding his body pleads guilty to manslaughter
- Lake Minnetonka just misses breaking 100-year record, ice remains after warm winter
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- Man convicted of shooting Indianapolis officer in the throat sentenced to 87 years in prison
- Why Jason and Travis Kelce Are Thanking the Swifties for Their Latest Achievement
- Man suspected of robberies fatally shot by Texas officers after the robbery of a liquor store
Recommendation
Small twin
Madonna taps Cardi B, daughter Estere for Celebration Tour 'Vogue' dance-off
Michigan man who was accidently shot in face with ghost gun sues manufacturer and former friend
Former Alabama Republican US Rep. Robert Terry Everett dies at 87
Could your smelly farts help science?
Dozens allege child sexual abuse in Maryland treatment program under newly filed lawsuits
Supreme Court extends pause on Texas law that would allow state police to arrest migrants
Dan + Shay serenade 'The Voice' contestant and her fiancé, more highlights from auditions