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Millionaire gives away fortune because it made him miserable

Posted Feb 10th, 2010 at 9:33 AM and seen
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Austrian millionaire Karl Rabeder is giving away every penny of his £3 million fortune after realizing his riches were making him unhappy. Rabeder has already sold his interior furnishings, his six gliders (worth £350,000), and is in the process of getting rid of it all—including his homes.

“My idea is to have nothing left. Absolutely nothing. Money is counterproductive – it prevents happiness to come.”

Instead, Rabeder plans to move out of his luxury Alpine retreat into a small wooden hut in the mountains or a simple bedsit in Innsbruck. His entire proceeds are going to charities he set up—and he will not be taking a salary from these.

Full story at Telegraph.

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Photo credit: Fotolia

 Catherine Faas

Comments (6)

Feb 10, 2010
Wegmann Wanda said...
Oh! He'll regret that some day later...but till tat day comes he can donate me a car or whatever he wants.;))) Or he can donate me much more and I promice I'll give almost all back when the day comes;-D
Feb 10, 2010
balqan said...
Once he finds out that poverty doesn't bring happiness neither, he will know better where to look for it.
Feb 10, 2010
Brandon Croke said...
Amazing story, it's so sad much of our culture wrongly equates money with happiness. Look at the happiness research and open your eyes to the true things that matter in life. There's a reason lottery winners and parapelics have the same happiness levels a year after their life change. God bless, be happy. :)
Feb 10, 2010
Kenneth Young said...
I like mr. Rabeder idea just about completely as if it were me I wish I was very rich to enable me to be able to keep 5 to 10% of my net earning and have the rest for emergencies like Haiti and recovery centers.

Kenneth

Feb 10, 2010
Abhijeet Bhalerao said...
Where do I sign up for that? I can get some money?
Feb 11, 2010
Mergen, WebGuru Co Ltd said...
Cool story. Nice to see someone be so bold on his stance. Not many would dare to do the same. If worse come worse, he can write a book about his experience and make millions back again. Pretty awesome idea if you ask me.

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