Austrian Man Donates Fortune to Live in Hut

Austrian Man Donates Fortune to Live in Hut

Trent Johnson
Feb 12, 2010

Karl Rabeder, a 47 year old businessman from Telfs, Austria plans donate his fortune, including a luxury villa in the Alps and farmhouse in Provence, to a microcredit charity, and then plans to retire to a small wooden hut in the mountains - all after realizing his riches were making him unhappy.

Mr. Rabeder, who made his fortune selling interior furnishings and accessories, from vases to artificial flowers, came to the conclusion that he was working as a slave for things that he did not wish for or need.

''My idea is to have nothing left. Absolutely nothing. Money is counter-productive - it prevents happiness.''

Mr Rabeder came to this realization after a three-week vacation in Hawaii:

''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.''

His plans on liquidating his fortunate is unique as well:

  • He plans to raffle his Alpine home, valued at £1.4 million, via 21,999 lottery tickets priced at just £87 each (see more about the raffle here).
  • The farmhouse in Provence complete with 17 hectares is on the market for £613,000 via a local estate agent.
  • He has already sold his collection of six gliders and Audi A8.

All of the proceeds will go into a microcredit charity in South America (, which offers small loans and advice to self employed people. He will take no salary from the organization. "He will then move out of his Alpine retreat into a small wooden hut in the mountains or a simple bedsit in Innsbruck, surviving on £800 a month while the proceeds go to a charity he set up in Latin America. He will draw no salary from it."

Since Mr. Rabeder came to this solution to simplify his life, he says he has felt "free, the opposite of heavy" but also says he does not judge those who choose to keep their wealth.

Via The London Telegraph.

Image: Villa via

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