Heiress Contributes 90% of Wealth and Urges Others to Do the Same

Marlene Engelhorn, an heiress of Austrian-German descent, received a multimillion-euro inheritance from her grandmother in 2022. This fortune traces back to Friedrich Engelhorn, the founder of BASF, a prominent chemical manufacturer. Engelhorn, who champions wealth redistribution, suggested that the Austrian government impose a 90% tax on inheritances. However, given that Austria eliminated inheritance tax in 2008, she chose to contribute the funds instead.

Engelhorn implemented an innovative strategy by randomly selecting 50 Austrians who best reflected the demographics of the nation to make decisions on the allocation of €25 million (approximately $30 million). She established the “Good Council for Redistribution,” imposing three stipulations on the fund’s utilization: no for-profit initiatives; exclusion of inhumane, unconstitutional, or extremist entities; and prohibition of personal benefit for the council members or their affiliates.

In 2024, following discussions, the council selected 77 organizations to receive funding, addressing various societal issues. The Austrian Society for Nature Conservation received the largest allocation, €1.7 million (close to $2 million).

Engelhorn, who co-founded the “Tax Me Now” initiative in 2021, advocates for increased taxes on the affluent, contending that it is unfair for some to gain merely from their inherited wealth. This initiative has garnered backing from other wealthy individuals, including Abigail Disney. Engelhorn stresses the obligation of citizens to confront socioeconomic inequities when political measures are ineffective. She persistently promotes the reduction of the wealth divide and the implementation of equitable tax policies.