millionaire philanthropy

Austrian Millionaire Raffles Off Luxury Home

They say money can't buy happiness and one millionaire asserts that it is true. The Daily Telegraph reports that Austrian millionaire Karl Rabeder has decided to give away everything it spent him a lifetime to accumulate. He has already unloaded a collection of six gliders and an Audi A8. His stone farmhouse in Provence on 42 acres is listed for sale and his villa in Tirol is being sold in a raffle with tickets available for 99 euros each. The Tirol home is a 3,455 sq ft villa with Alps views. It has a swimming pond, a beach volleyball court and an outdoor entertainment pavilion.

Rabeder sold his successful furnishings and accessories company in 2004 and supports several orphanage projects in Central and South America. He and his wife have created a micro-credit organization. They plan to use the proceeds of the house lottery, on the one hand, to pay back existing house construction loans and cover the startup costs for MyMicroCredit which will fund self-employed entrepreneurs in several South American countries. A total of 21,999 lottery tickets will be sold.

It's not the first time we've seen this type of thing. Last year after a divorce English banker Andrew Paul started the Win A New Life website to give way his his home, car and boat in a competition that anyone could enter for £20. Up for grabs were his £1.1m five-bedroom house, a £160,000 Aston Martin DBS and his £200,000 Sealine 35 Sport motor boat. He was looking to sell 200,000 tickets but did not sell the required amount of tickets for the first prize of his belongings so a cash sum was given out instead.

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Tags: austrian millionaire, AustrianMillionaire, karl rabeder, KarlRabeder, millionaire philanthropy, MillionairePhilanthropy, tirol