Karl Rabeder
Encyclopedia
Karl Rabeder is an Austrian businessman who founded the non-profit organization
MyMicroCredit in 2009, which aims to reduce poverty in Central
and South America
. In February of 2010, announced that he will be donating his entire fortune of over four million US dollars, including the profits from all of his properties, his car, and his businesses, to charities he set up in Central and South America.
Non-profit organization
Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...
MyMicroCredit in 2009, which aims to reduce poverty in Central
Central America
Central America is the central geographic region of the Americas. It is the southernmost, isthmian portion of the North American continent, which connects with South America on the southeast. When considered part of the unified continental model, it is considered a subcontinent...
and South America
South America
South America is a continent situated in the Western Hemisphere, mostly in the Southern Hemisphere, with a relatively small portion in the Northern Hemisphere. The continent is also considered a subcontinent of the Americas. It is bordered on the west by the Pacific Ocean and on the north and east...
. In February of 2010, announced that he will be donating his entire fortune of over four million US dollars, including the profits from all of his properties, his car, and his businesses, to charities he set up in Central and South America.