Current:Home > StocksShe asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with. -Wealthify
She asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with.
View
Date:2025-04-15 03:36:40
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! (7167)
Related
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- Concorde supersonic jet will return to New York’s Intrepid Museum after seven-month facelift
- DeSantis orders Florida resources to stop any increase in Haitian migrants fleeing violence
- Michigan State's basketball maverick: How Tom Izzo has prospered on his terms for 30 years
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Queen Camilla honored with Barbie doll: 'You've taken about 50 years off my life'
- NCAA tournament bubble watch: Where things stand as conference tournaments heat up
- Waymo’s robotaxi service expands into Los Angeles, starting free rides in parts of the city
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- Dodge drops the Challenger, flexes new 2024 Charger Daytona EV
Ranking
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Los Angeles Chargers' Joe Hortiz, Jim Harbaugh pass first difficult test
- Majority of U.S. adults are against college athletes joining unions, according to AP-NORC survey
- Censorship efforts at libraries continued to soar in 2023, according to a new report
- Intellectuals vs. The Internet
- 3 men face firearms charges after Kansas City Chiefs Super Bowl parade shooting, authorities say
- SZA Reveals Why She Needed to Remove Her Breast Implants
- Waymo’s robotaxi service expands into Los Angeles, starting free rides in parts of the city
Recommendation
Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
Ben & Jerry's annual Free Cone Day returns in 2024: Here's when it is and what to know
Star Wars’ Child Actor Jake Lloyd in Mental Health Facility After Suffering Psychotic Break
Brewers' Devin Williams expected to miss at least 3 months due to stress fractures in back
Highlights from Trump’s interview with Time magazine
Indianapolis Colts sign 2023 comeback player of the year Joe Flacco as backup quarterback
Gwyneth Paltrow Reveals How She Felt After Kourtney Kardashian's Poosh Was Compared to Goop
After 50 years, Tommy John surgery is evolving to increase success and sometimes speed return