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The Millionaire Who Gave Away His Fortune
"Money is counterproductive, it prevents happiness to come" said Austrian millionaire and businessman Karl Rabeder, 47, in February 2010, when he announced to be selling his properties including a luxury 3,455 sq ft villa with lake, sauna and spectacular mountain views over the Alps, valued at £1.4 million, an old stone farmhouse in Provence with 17 hectares overlooking the arrière-pays, on the market for £613,000. Already gone were his collection of six gliders valued at £350,000, and a luxury Audi A8, worth around £44,000.Mr. Rabeder said the tipping point came while he was on a three-week holiday with his wife to islands of Hawaii. "It was the biggest shock in my life, when I realised how horrible, soulless and without feeling the five star lifestyle is," he said. "In those three weeks, we spent all the money you could possibly spend. But in all that time, we had the feeling we hadn't met a single real person – that we were all just actors. The staff played the role of being friendly and the guests played the role of being important and nobody was real." All the money, over £3 million or $4.6 million dollars, went into his microcredit charity, which offers small loans to Latin America and builds development aid strategies to self-employed people in El Salvador, Honduras, Bolivia, Peru, Argentina and Chile. |
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