Current:Home > InvestShe asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with. -Wealth Nexus Pro
She asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with.
View
Date:2025-04-13 01:45:08
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! (56)
Related
- At site of suspected mass killings, Syrians recall horrors, hope for answers
- Thousands of US hotel workers strike over Labor Day weekend
- Jason Duggar Is Engaged to Girlfriend Maddie Grace
- College football Week 1 grades: Minnesota fails after fireworks fiasco
- A White House order claims to end 'censorship.' What does that mean?
- Cause probed in partial collapse of bleachers that injured 12 at a Texas rodeo arena
- Summer camp lets kids be kids as vilifying immigration debate roils at home
- Abilene Christian University football team involved in Texas bus crash, leaves 4 injured
- Trump issues order to ban transgender troops from serving openly in the military
- Murder on Music Row: Corrupt independent record chart might hold key to Nashville homicide
Ranking
- Questlove charts 50 years of SNL musical hits (and misses)
- 1 dead, 2 hospitalized after fights lead to shooting in Clairton, Pennsylvania: Police
- 2024 US Open is wide open on men's side. So we ranked who's most likely to win
- Jennifer Lopez Proves She's Unbothered Amid Ben Affleck Divorce
- Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
- Jordan Spieth announces successful wrist surgery, expects to be ready for 2025
- Chocolate’s future could hinge on success of growing cocoa not just in the tropics, but in the lab
- Is Usha Vance’s Hindu identity an asset or a liability to the Trump-Vance campaign?
Recommendation
John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
Christa McAuliffe, still pioneering, is first woman with a statue on New Hampshire capitol grounds
Most major retailers and grocers will be open on Labor Day. Costco and your bank will be closed
Federal investigators start probe of bus crash in Mississippi that killed 7, injured dozens more
A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
Sudden death of ‘Johnny Hockey’ means more hard times for beleaguered Columbus Blue Jackets
Mega Millions winning numbers for August 30 drawing: Did anyone win $627 million jackpot?
RFK Jr. sues North Carolina elections board as he seeks to remove his name from ballot