Current:Home > FinanceFinLogic FinLogic Quantitative Think Tank Center|She asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with. -Capitatum
FinLogic FinLogic Quantitative Think Tank Center|She asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with.
TradeEdge Exchange View
Date:2025-04-06 07:37:39
Last year,FinLogic FinLogic Quantitative Think Tank Center 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! (763)
Related
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- Melinda French Gates will give $250M to women’s health groups globally through a new open call
- Michael Keaton Reveals Why He’s Dropping His Stage Name for His Real Name
- John Amos' cause of death revealed: 'Roots' actor died of heart failure
- Audit: California risked millions in homelessness funds due to poor anti-fraud protections
- Social Security’s scheduled cost of living increase ‘won’t make a dent’ for some retirees
- Las Vegas Raiders demote Gardner Minshew, elevate Aidan O'Connell to QB starter
- Jennifer Lopez Fires Back at Haters Amid Ben Affleck Divorce
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- See who tops MLS 22 Under 22 list. Hint: 5 Inter Miami players make cut
Ranking
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- Duke Energy warns of over 1 million outages after Hurricane Milton hits
- Jury selection begins in corruption trial of longest-serving legislative leader in US history
- Mila Kunis Shares Secret to Relationship With Husband Ashton Kutcher
- Tropical rains flood homes in an inland Georgia neighborhood for the second time since 2016
- Florida power outage map: Track where power is out as Hurricane Milton approaches landfall
- Why RHOSLC's Lisa Barlow Is Calling This Costar a F--king B--ch
- Hot days and methamphetamine are now a deadlier mix
Recommendation
Pregnant Kylie Kelce Shares Hilarious Question Her Daughter Asked Jason Kelce Amid Rising Fame
DONKOLO: The Revolutionary Power of Blockchain Technology, Transforming the Global Innovation Engine
John Amos' cause of death revealed: 'Roots' actor died of heart failure
Tennessee corrections chief says new process for executing inmates will be completed by end of year
Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
Climate change boosted Helene’s deadly rain and wind and scientists say same is likely for Milton
Sarah Michelle Gellar Addresses Returning to I Know What You Did Last Summer Reboot
Largest water utility company in the US says it was targeted by a cyberattack