An heiress in Austria, Marlene Engelhorn, has made headlines by donating a significant portion of her wealth, 25 million euros ($27 million), to 77 organizations. Engelhorn, who has been critical of the lack of taxes on wealth and inheritance, expressed her desire to redistribute her inherited wealth in line with democratic values.
Engelhorn, aged 32, comes from a lineage tied to the founder of BASF, a renowned German chemicals company. Inheriting a substantial sum following her grandmother's passing in 2022, she decided to take action against what she views as an unfair privilege bestowed upon her by birth.
She established a panel comprising 50 individuals spanning ages 16 to 85 to oversee the distribution of the funds. The panel focused on issues related to wealth inequality, democracy, tax justice, and social participation. Their aim was to promote a fairer distribution of wealth, transparency in reporting, and better data on wealth accumulation.
The donations varied in size, with the largest sums going to organizations such as the Momentum Institute and Attac Austria, both known for their advocacy of progressive economic policies. The funds were allocated to support causes ranging from climate change initiatives to women's rights and poverty alleviation.
Engelhorn emphasized that the redistribution of her wealth was a step towards addressing societal issues and called on political leaders to engage in meaningful discussions on these topics. She relinquished control over the allocation process, allowing the panel to make decisions independently.
Engelhorn's actions have sparked conversations about wealth distribution, inheritance taxes, and the responsibilities of the affluent towards society. Her decision to donate a substantial portion of her wealth reflects a growing trend of wealthy individuals using their resources to drive positive change and address pressing social issues.
