The Keys ep12 Kristaps Morbergs and sharing one's wealth
The all-time greatest patron of the University of Latvia, Kristaps Morbergs, died in 1928, leaving to it his millions worth of estate. In his will, Morbergs had
established that the university has to create a special fund for managing his properties that would award scholarships to poor and especially gifted
students, as well as provide financing to young scientists and educators.
The fund continues to operate to this day, and in todays money, Morbergs’s investment is estimated to be about 15 million euro. In this episode of The
Keys, we will investigate how the university manages the valuable estate, and try to explain why wealthy people tend to share their money.