Businessman gives away entire fortune
Karl Rabeder, originally from Austria, said he will sell his $2.5 million villa and a farmhouse, while he has already sold his gliders and luxury car, making up his $4.8 million fortune.
Rabeder said he will now use his funds to help orphans in South America, a project he has been chasing for some time.
"My idea is to have nothing left. Absolutely nothing," he said. "Money is counterproductive – it prevents happiness to come."
"I had the idea on holiday in Hawaii some years ago... My cars and plane have already gone and the rest follows very soon. I can't wait to be free of them... It has taken me until now to realise that I don't need money and possessions."