Heiress sets up 'citizens group' to decide how she should give away £21m fortune
An heiress has set up a citizens group to decide how she should give away a large portion of her £21.5million inheritance.
Marlene Englehorn, from Vienna, Austria, was left the fortune by her late grandmother and wants 50 people to determine how it should be distributed. The European country abolished inheritance tax in 2008, which Ms Englehorn thinks is unfair.
The 31-year-old Austro-German is a descendant of Friedrich Engelhorn, the founder of chemical and pharmaceutical firm BASF. Her grandmother Traudl Engelhorn-Vechiatto died in September 2022. Her wealth was estimated by Forbes at $4.2bn (£3.3bn; €3.8bn).
Prior to her death, Marlene stated her intention to give away about 90% of her inheritance. Today she sent out 10,000 invitations targeting randomly selected Austrian citizens over the age of 16 as part of the unique scheme, known as the Good Council for Redistribution. Those wanting to take part then must register online or by phone.
From that initial sample of 10,000 Austrians chosen, 15 substitute members were also selected in case of dropouts. They will then begin submitting their ideas for how the money should be spent.
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Prior to her grandmother's death, Marlene stated her intention to give away about 90% of her inheritance (snapshot-photography/B Niehaus/REX/Shutterstock)"I have inherited a fortune, and therefore power, without having done anything for it," Marlene said in a statement. "And the state doesn't even want taxes on it. 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."
Christoph Hofinger, Managing Director of the Foresight Institute which is supporting the initiative, said the council to redistribute the heiress's money would be made up of 50 people "from all age groups, federal states, social classes and backgrounds". The group will be asked to "contribute their ideas in order to jointly develop solutions in the interests of society as a whole", he said.
Those chosen will take part in meetings in Salzburg alongside academies and civil society organisations between March and June this year, with expenses covered. Marlene believes the talks will be a "service to democracy". "I have no veto rights," she said. "I am putting my assets at the disposal of these 50 people and placing my trust in them."
If they cannot come up with a "widely supported" decision on what to do with the money, then the money goes back to Marlene. Despite her previously stating she wanted to give away 90% of the money, it is unclear how much will actually be up for grabs.
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