Austrian Millionaire heiress to distribute $27million fortune she inherited

Meet Marlene Engelhorn, an Austro-German woman, who wants to redistribute her $ 27 million fortune among those people who work hard to make ends meet. Explaining the reason for this extraordinary charity work, the 31-year-old woman says that as the state doesn't even want taxes on it, she will do it on her own. Engelhorn previously campaigned for larger taxes on the rich. The heir of BASF said in a statement, "If politicians don't do their job and redistribute, then I have to redistribute my wealth myself. Many people struggle to make ends meet with a full-time job and pay taxes on every euro they earn from work. I see this as a failure of politics, and if politics fails, then the citizens have to deal with it themselves."

Inheritance tax

The inheritance tax was scrapped in Austria 16 years ago. The opposition Social Democrats was the only major party campaigning for it to be reinstated. On the other hand, the conservative People’s Party said that the opposition wants "to further burden people in our country with his call for a wealth and inheritance tax, the People's Party is providing relief.

10,000 randomly selected citizens

Engelhorn will do it in her unique way. She will send 10,000 invitations to randomly selected Austrian citizens to join Engelhorn’s Good Council for Redistribution. They will select 50 people who will then be chosen from whoever agrees to be part of the council, with 15 substitutes selected in case of dropouts.

Foresight Institute supports

According to the BBC, the Foresight Institute has come forward to support this initiative. Its Managing Director Christoph Hofinger said that the council will be made up of people "from all age groups, federal states, social classes, and backgrounds" who will be asked to "contribute their ideas to jointly develop solutions in the interests of society as a whole".

50 people to redistribute wealth

Engelhorn said that she would be putting her assets at the disposal of these 50 people and placing her trust in them. If there is not a “widely supported” consensus on how the money should be spent, then it will be returned to Engelhorn who will decide how her inheritance is spent. However, it is not clear exactly how much of the inheritance will be redistributed.

FAQs:

Who is Marlene Engelhorn and why is she in the news at present?
Marlene Engelhorn is an Austro-German woman, who wants to redistribute her $ 27 million fortune among those people who work hard to make ends meet. Explaining the reason for this extraordinary charity work, the 31-year-old woman says that as the state doesn't even want taxes on it, she will do it on her own. Engelhorn previously campaigned for larger taxes on the rich.

How will Marlene Engelhorn redistribute her wealth?
Marlene Engelhorn will send 10,000 invitations to randomly selected Austrian citizens to join Engelhorn’s Good Council for Redistribution. They will select 50 people who will then be chosen from whoever agrees to be part of the council, with 15 substitutes selected in case of dropouts.