Money: The millionaire heir who doesn't want the millions
Kai Viehof has renounced most of his inheritance, and he wants to give away most of the rest, too. About a man whose job is to sensibly give away money.
Kai Viehof, a 44-year-old German millionaire, has decided to give away most of his wealth, which he inherited from his family's business, Allkauf, that was sold to Metro AG in 1998 for around 1 billion marks. Viehof's grandfather built the retail chain in the 1960s, and his father had previously given him a middle-sized two-digit million amount, which he now plans to mostly donate or invest in companies that prioritize social rather than financial returns.
He will keep only one-eighth of the amount for himself and his family, and aims to use the rest to support democracy and other social causes. Viehof's decision is motivated by his concerns about wealth distribution and his desire to use his inherited wealth for the greater good, rather than simply accumulating more 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.
