Austrian millionaire gives away fortune - and sanity


"It was the biggest shock in my life," said Austrian millionaire Karl Habeder, "when I realized how horrible, soulless and without feeling the five-star lifestyle is."

So he's giving away all his money. Every penny, trading in his two luxury homes for a mountain hut and a bedsit in the city. "My idea is to have nothing left. Absolutely nothing," he said. "Money is counterproductive – it prevents happiness to come."

Responses on blogs have been universally positive: "True wealth is good health. Money can't buy you happiness. etc." Which is true. Numerous studies on happiness indicate that factors like health, marriage and how we're doing in relation to our peers determine our happiness.