An heiress of Austro-German origin creates an assembly of citizens who will decide to redistribute part of her property!
Marilyn Engelhorn, 31, who lives in Vienna, wants 50 Austrians to decide how to redistribute €25 million of her inheritance.
“I inherited wealth, and therefore power, without doing anything for it. The state doesn't even want to tax it,” said the heiress. Austria abolished the inheritance tax in 2008, and is one of the few countries in Europe that does not impose an inheritance tax – Or death tax.
Engelhorn is a descendant of Friedrich Engelhorn, the founder of German chemical and pharmaceutical giant BASF. She inherited millions after the September 2022 death of her grandmother, Traudel Engelhorn Vecchiato, whose fortune was estimated by Forbes at $4.2 billion.
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Before her death, her granddaughter announced her intention to distribute approximately 90% of her inheritance.
The heiress sent out invitations that began arriving on Wednesday in the mailboxes of 10,000 randomly selected Austrian citizens over the age of 16. BBC broadcast. Those who wish to participate in the Engelhorn initiative – “The Good Council for Redistribution” can do so by phone or online. 50 of them and 15 alternate members will be selected, who, under the guidance of experts, will decide how and to whom the funds will be awarded. Marilyn Engelhorn says she will have no say in the proceedings.
“If politicians don't do their job, I'll have to redistribute my wealth myself,” Engelhorn said. “Many people struggle to make ends meet through full-time jobs, and are taxed on every euro they earn from their work. For me, this constitutes a failure of policy, and when it fails, citizens must act,” the heiress added.
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