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But the philanthropy bug continues to spread. In Regensburg, Johann Vielberth, a real estate developer, set up a foundation earlier this year to finance a new institute of real estate studies with four professorships at the university. Next year he will put up a new building to house it. Vielberth, 72, says that although his family has backed local causes for 150 years, he is formalizing that tradition and taking the generosity to a new level: the donation to the university exceeds $10 million. "It's time for a culture of philanthropy to begin again," he says. Given Europe's growing funding needs, it's happening not a moment too soon.