Austrian millionaire Karl Rabeder is giving away every penny of his £3 million fortune after realising his riches were making him unhappy:
Mr Rabeder, 47, a businessman from Telfs is in the process of selling his luxury 3,455 sq ft villa with lake, sauna and spectacular mountain views over the Alps, valued at £1.4 million. Also for sale is his beautiful old stone farmhouse in Provence with its 17 hectares overlooking the arrière-pays, on the market for £613,000. Already gone is his collection of six gliders valued at £350,000, and a luxury Audi A8, worth around £44,000. r Rabeder has also sold the interior furnishings and accessories business – from vases to artificial flowers – that made his fortune. “My idea is to have nothing left. Absolutely nothing,” he told The Daily Telegraph. “Money is counterproductive – it prevents happiness to come.” Instead, he will 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 in Central and Latin America, but he will not even take a salary from these. – from Telegraph
Alex has written for Vanity Fair, Barrons, Bloomberg and Condé Nast Traveler.