How will the UBI Fund work?
In essence, like any other investment fund. Funds collected by donations will be invested in publicly traded companies and other assets. The main difference is that the earnings from the UBI Fund will be distributed in form a Universal Basic Income (UBI) among randomly selected recipients instead of benefitting only a few investors in already rich countries.
How will you raise money for the UBI Fund?
Should this idea gain enough supporters, a crowdfunding campaign will be started to collect enough money to kick off the UBI Fund. Once the UBI Fund is up and running, we will collect donations on an ongoing basis to grow the fund and be able to pay out more basic incomes.
How will you distribute the earnings of the UBI Fund?
The earnings from the UBI Fund will be distributed by monthly payments of 100 $ to randomly selected residents of one of the three poorest countries according to UN definitions. Over time, residents from more and more countries will be eligible to receive a Universal Basic Income.
Can anyone receive a basic income?
At first, only people from the three countries with the lowest average income will be able to apply for a basic income in order to achieve the biggest impact. The only prerequisite would be a government issued ID for identification and a method to receive electronic payments.
How will you select the recipients of the basic income?
The recipients will be chosen randomly by a lottery. The details of the process will be announced once an organizational structure for the fund has been established.
Can I already sign up for the lottery?
Since the fund has not been initiated yet, it is not yet possible to apply for the lottery. Please sign up for the newsletter to receive future announcements.
Do 100 $ per month even make a difference?
If you live in a country with a high average income, 100 $ per month might not seem as much money. However, in rural areas in many African countries for example, people only earn a couple of hundred dollars per year. An extra monthly income of 100 $ would drastically improve the economical situation of their households and make a significant impact. This money might enable them to send their children to school or open their own small businesses, for example.
Even for many people in “rich” countries, 100 $ per month would have a substantial impact on their daily lives. Just think of people working for minimum wage or homeless people looking for a place to live.
Will the basic income be increased over time?
Yes. As the earnings of the UBI Fund grow over time, the payments will be raised accordingly. In most countries it will not be enough to cover a full livelihood for the foreseeable future but nevertheless have a substantial impact on the recipients’ lives.
Will residents of other countries also be eligible for the basic income?
Yes. As the UBI Fund grows, the program will be rolled out in further countries with the goal of ultimately being open to everyone.
How much money will you need to fund one basic income?
Assuming earnings of 3 % per year, about 40.000 $ will be enough to fund one basic income.
Isn’t 3 % earnings per year unrealistic? And what happens in case of a stock market crash?
Looking back at the past decades, the average return on most stock markets has never been below 3 % return per year. Even in times of a global crisis like the Covid19 pandemic, most global corporations continued with their business largely unaffected. In fact, many already rich people became even richer during times of crisis. Of course there is no guarantee that earnings will always flow without any interruption, but a conservative investment strategy and diversified holdings should protect the UBI Fund from major setbacks.
Will you invest in any kind of company?
The UBI Fund will adhere to certain investment standards. For example, no funds will be invested in companies producing arms or systematically violating human rights. Instead, the focus will lie on companies with sound business models in many industries, especially those focussing on solutions with a positive impact on society and the environment.
Sounds great! Can I donate money?
No donations for the fund are accepted at this time. Please sign up for the e-mail list and you’ll be notified you as soon as the initial crowdfunding campaign begins.
If you’d like to help me cover the costs of this website and the campaign, feel free to buy me a coffee here:
Should you be shopping regularly on amazon.com anyway, you can also use this affiliate link or one of the book referrals below to support me. It won’t cost you anything extra and Amazon will pay me a small commssion.
How can I help?
I want to know more about the idea of the basic income.
Please have a look at these books:
- Give People Money by Annie Lowrey
- Utopia for Realists by Rutger Bregman
- Basic Income by Phillipe van Parijs and Yannick Vanderborght
Or head over to the website of the Basic Income Earth Network.
I still have questions.
For a more detailed description about this project, please download the whitepaper.
Still not satisfied? Then drop a line here: email@example.com.