Marlene Engelhorn is a descendant of the founder of the chemical giant BASF, Friedrich Engelhorn. She gave up 90 percent of her inheritance that her grandmother gave her because she believes that she did not deserve it and that the money should go to those who really need it
When Marlene Engelhorn (32) learned three years ago that she inherited over 25 million euros from her grandmother, she was not happy: "I didn't earn it, I didn't deserve that wealth, I didn't even have to pay taxes." It's unfair!”
She thought it was unfair that she got wealth, and therefore power, for which she "didn't have to work for a single second" and didn't even have to pay taxes. So she gave up 90 percent of her inheritance. However, she kept two million for herself, writes "Noye Züricher Zeitung".
The heiress who renounced the largest part of her inheritance has both German and Austrian citizenship and lives in Vienna. He is one of the descendants of Friedrich Engelhorn, the founder of the chemical giant BASF. His heirs were left with about 4,2 billion dollars, writes the Viennese "Standard".
Scheduling of the political system
In the fact that she doesn't have to pay inheritance tax, and that many people who are barely making ends meet with full-time jobs have to pay tax on every euro they earn, she sees "policy timing". Because, he says, the unequal redistribution of wealth has negative consequences on the social fabric of society and the political system, and "this leads to the fact that democracy is endangered due to the disproportionately large influence of a small number of people."
The partners in the coalition government of Germany think in a similar way. The Bureau of Statistics announced that in Germany, on average, 85.000 euros are inherited after the death of ancestors. However, the vast majority of that money – 400 billion euros per year – is inherited by only 10 percent of citizens. That is why the Government has a proposal on the table every German gets 20.000 euros for his eighteenth birthday which he could invest in work or studies. The expenditure would be financed by higher taxation of the largest heirs.
How will the money be distributed?
Marlene Engelhorn, who went to a private elementary school and high school in Vienna, and graduated in German studies, does not even want to decide by herself to whom her 25 million euros will be donated, she wants it to be given to those who really need the money. That's why she trusted the institute Foresight, which deals with solutions for modern society, to send questionnaires to the addresses of 10.000 randomly selected citizens of Austria over the age of 16 asking how to spend millions, and based on the answers, they will choose a council of 50 people who will make specific decisions.
The council will meet six times from March to June 2024, and the members will receive 1200 euros per session for that work.
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