Current:Home > FinanceShe asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with. -MacroWatch
She asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with.
View
Date:2025-04-14 18:59:27
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! (233)
Related
- Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
- 18-year-old turns himself into police for hate-motivated graffiti charges
- BNSF Railway says it didn’t know about asbestos that’s killed hundreds in Montana town
- Tori Spelling reveals she tried Ozempic, Mounjaro after birth of fifth child
- Grammy nominee Teddy Swims on love, growth and embracing change
- Iran fires at apparent Israeli attack drones near Isfahan air base and nuclear site
- Trump's critics love to see Truth Social's stock price crash. He can still cash out big.
- 'The Black Dog' in Taylor Swift song is a real bar in London
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- EPA designates 2 forever chemicals as hazardous substances, eligible for Superfund cleanup
Ranking
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- How do I apply for Social Security for the first time?
- Taylor Swift college course seeks to inspire students to emulate her business acumen
- Are green beans high risk? What to know about Consumer Reports' pesticide in produce study
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- Torso and arm believed to be those of missing Milwaukee teen Sade Robinson wash up on beach along Lake Michigan
- FedEx pledges $25 million over 5 years in NIL program for University of Memphis athletes
- NFL draft: Complete list of first overall selections from Bryce Young to Jay Berwanger
Recommendation
Louvre will undergo expansion and restoration project, Macron says
Bitcoin’s next ‘halving’ is right around the corner. Here’s what you need to know
New California law would require folic acid to be added to corn flour products. Here's why.
Emma Stone's Role in Taylor Swift's Tortured Poets Department Song Florida!!! Revealed
Bill Belichick's salary at North Carolina: School releases football coach's contract details
Israel’s long-term credit rating is downgraded by S&P, 2nd major US agency to do so, citing conflict
NYPD arrests over 100 at pro-Palestinian protest at Columbia University
Get 90% Off J.Crew, $211 Off NuFACE Toning Devices, $150 Off Le Creuset Pans & More Weekend Deals