Current:Home > MarketsShe asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with. -MoneyMatrix
She asked 50 strangers to figure out how she should spend her $27 million inheritance. Here's what they came up with.
View
Date:2025-04-12 08:37:07
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! (37)
Related
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Philadelphia lawyer accused of falsely claiming to represent family of boy killed by police
- Massachusetts state trooper pleads not guilty to charges related to bribery scandal
- Charmed’s Holly Marie Combs and Rose McGowan Defend Shannen Doherty Amid Alyssa Milano Feud
- Meta releases AI model to enhance Metaverse experience
- Georgia family plagued by bat infestation at Savannah home: 'They were everywhere'
- Vanderpump Rules' Katie Maloney Details Strange Date With This Charlie's Angels Star
- Package containing two preserved fetuses sent to Mütter Museum in Philadelphia, police investigating
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- As long school funding lawsuit ends in Kansas, some fear lawmakers will backslide on education goals
Ranking
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Former Ohio sheriff’s deputy charged with murder testifies that the man he shot brandished gun
- Travis Kelce praises Taylor Swift for record-breaking Grammys win: She's rewriting the history books
- DEA reverses decision stripping drug distributor of licenses for fueling opioid crisis
- Travis Hunter, the 2
- First Asian American to lead Los Angeles Police Department is appointed interim chief
- Funeral home owner accused of abandoning nearly 200 decomposing bodies to appear in court
- Henry Fambrough, last surviving original member of The Spinners, dies at 85
Recommendation
New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
What we know about the search for five Marines after a helicopter went down in California mountains
An Ohio officer says he didn’t see a deputy shoot a Black man but he heard the shots ring out
Self-proclaimed pastor accused of leading starvation cult in Kenya pleads not guilty to 191 child murders
Intellectuals vs. The Internet
Jury Finds Michigan Mom Guilty of Involuntary Manslaughter in Connection to Son’s School Shooting
A listener’s guide to Supreme Court arguments over Trump and the ballot
Patriots WR Kendrick Bourne offers insight into Mac Jones' struggles, Belichick's future