An Austro-German heiress is setting up a citizens' group to decide how she should give away much of the fortune she inherited from her grandmother. Marlene Engelhorn, 31, who lives in Vienna, wants 50 Austrians to determine how €25m (£21.5m) of her inheritance should be redistributed.
"I have inherited a fortune, and therefore power, without having done anything for it," she said. She is a descendant of Friedrich Engelhorn, founder of the German chemical and pharmaceutical company BASF, and inherited millions when her grandmother died in September 2022. Traudl Engelhorn-Vechiatto's wealth was estimated by Forbes at $4.2bn (£3.3bn; €3.8bn), and even before her death her granddaughter had declared she wanted to hand out about 90% of her inheritance.
On Wednesday, 10,000 invitations targeting randomly selected Austrian citizens began arriving in letterboxes. Those who wish to take part in the initiative, known as the Good Council for Redistribution, can register online or by phone. From the initial sample of 10,000 Austrians aged over 16, 50 people will be chosen, with 15 substitute members also selected in case of dropouts.
"If politicians don't do their job and redistribute, then I have to redistribute my wealth myself," she explained. "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." Christoph Hofinger, Managing Director of the Foresight Institute supporting the initiative, said the council would be made up of 50 people "from all age groups, federal states, social classes and backgrounds".
The group will take part in a series of meetings in Salzburg with academics and civil society organisations from March to June this year. Organisers say the meetings will be barrier-free, with childcare and interpreters available. Travel costs will be covered and participants will receive €1,200 for every weekend they attend. Engelhorn has no veto rights: "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, the money goes back to her.
Austria abolished inheritance tax in 2008, one of a handful of European countries that do not impose it. The opposition Social Democrats want it reinstated; its leader Andreas Babler called it a central condition for coalition negotiations. The conservative People's Party rejected new taxes, with general secretary Christian Stocker saying people should be left with more net income. Engelhorn has not confirmed how much she is holding back but said she retained a financial buffer.
