Urgent.News

What's breaking now, across thousands of outlets.

Business

Money: The millionaire heir who doesn't want the millions

Kai Viehof has renounced most of his inheritance, and of the remainder, the grandson of the Allkauf founder wants to give away most of it. About a man whose job is to sensibly get rid of money.

Translated from German Read in German

Money: The millionaire heir who doesn't want the millions

Kai Viehof, a 44-year-old from Mönchengladbach, is a millionaire who defies common stereotypes. His grandfather founded the retail chain "Allkauf" in the 1960s, which was sold to Metro AG in 1998 for around 1 billion marks. However, Viehof rejected his share of the money. He is part of a group of wealthy individuals, including Sebastian Klein and Marlene Engelhorn, who aim to distribute rather than accumulate wealth.

Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.

Read the original at handelsblatt.com →

More in Business

More from Thursday 22 October →