Austrian heiress plans to give away £21.5m fortune and is inviting suggestions
She is all set to launch a citizen’s council which will meet for six weekends from March until June and work on proposals to distribute the wealth
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.An Austrian-German heiress is planning on giving away her €25m (£21.5m) fortune that she inherited from her grandmother.
Marlene Engelhorn, 31, has now sought suggestions from citizens on how best to distribute the money.
Ms Engelhorn said “€25m can be redistributed because the state does not redistribute it. I have this money because it is not taxed”, during a press conference on Wednesday.
“I have this money because the government has failed to fulfill its mandate to ensure that wealth is distributed in society in such a way that it doesn’t end up unequally in my hands just because I’m in this world, in this particular family, with this surname.”
Ms Engelhorn inherited the money from her family, who owns the chemical giant BASF. She has been fighting for years for a more equitable tax system in Austria.
A Citizens’ Council will now be established to determine the allocation of funds, Euro News reported on Wednesday.
“I have inherited a fortune, and therefore power, without having done anything for it,” she said.
“And the state doesn’t even want taxes on it.”
In 2008, Austria eliminated the inheritance tax, hence becoming one of the few European countries without such a tax or death duties.
Austrians interested in participating in Ms Engelhorn’s citizens’ initiative – referred to as the Good Council for Redistribution – can register either online or by phone. From the original group of 10,000 Austrians, all aged over 16, 50 participants will be selected. There will also be 15 substitutes in case of some dropouts.
This citizen’s council will meet for six weekends from March until June and work on proposals to distribute the wealth.
“If politicians don’t do their job and redistribute, then I have to redistribute my wealth myself,” she said.
“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.”
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments