Marlene Engelhorn, a wealthy heiress from Austria and Germany, is embarking on an extraordinary mission to give back to society. Her story defies traditional views on inheritance and taxation, as she aims to redistribute her sizable inheritance received from her grandmother, Traudl Engelhorn-Vechiatto. In September 2022, Marlene inherited approximately $4.2 billion, a considerable fortune she attributes to luck in life’s “birth lottery.”
The Engelhorn family wealth traces back to BASF, a historic chemical company founded by Friedrich Engelhorn in 1865. Additionally, they owned Boehringer Mannheim, a pharmaceutical and medical diagnostics equipment company, until its $11 billion sale in 1997. With a Forbes-estimated net worth of $4.2 billion, Marlene Engelhorn found herself in a position of significant privilege and influence.
However, Marlene distinguishes herself by advocating for wealth redistribution. She criticizes Austria’s lack of inheritance tax, abolished in 2008, making it one of the few European nations without such a levy. She feels unfairly privileged, inheriting vast wealth without contributing to society and with minimal taxation.
Marlene actively campaigned for higher taxes on the wealthy even before her inheritance. She co-founded “Tax Me Now,” advocating for increased taxes on affluent individuals in Germany. In August 2022, she garnered attention at a Millionaires for Humanity event in Amsterdam, championing higher taxes for the rich. Marlene commits to donating about 90% of her inheritance.
Her philanthropic endeavors extend beyond personal contributions. Marlene established the ‘Good Council for Redistribution,’ inviting randomly selected Austrian citizens to participate in decision-making processes. She emphasizes inclusivity, covering travel costs and offering compensation to participants.
Marlene firmly believes in wealth redistribution, intending to address societal inequalities and injustices. She views the council’s discussions as a “service to democracy” and relinquishes control over asset allocation. However, if consensus isn’t reached, the funds revert to Marlene.
Her journey challenges notions of privilege and responsibility, urging millionaires to contribute equitably to society. Marlene’s actions reignite debates on inheritance tax in Austria, highlighting social justice and fair wealth distribution. Her story inspires us to reevaluate our roles in promoting a more equitable society, showcasing the potential for meaningful change, one inheritance at a time.