Austrian heiress explains why she is giving away 90% of her huge inheritance to benefit society

In a remarkable act of kindness, an Austrian heiress named Marlene Engelhorn has made headlines by giving away her $27 million inheritance to help those in need.

Instead of spending the money on herself, the 31-year-old heiress wants to redefine the idea of inherited wealth and involve the community in deciding how the funds should be used.

Marlene is creating a group called Guter Rat, which means Good Council, consisting of 50 representatives randomly selected from the Austrian population.

She believes that the fate of a large fortune should be collectively decided by a diverse group, not just one person.

“Why should I alone be entitled to decide how wealth is redistributed to society — wealth that has been created by said society?” Engelhorn wrote that a large fortune needs a collective decision of a large group and not just a person alone.

To choose these representatives, the Austrian heiress has invited 10,000 Austrians to complete a survey, ensuring a mix of ages, backgrounds, and social classes.

The final council will meet over six weekends, with all expenses Marlene covers.

Her decision to share her wealth stems from a concern about Austria’s lack of taxes on inheritance and wealth.

Even in countries like the United States, where estate taxes exist, many heirs do not pay them.

Born into a wealthy family, Marlene is responsible for contributing justly to society. She believes that millionaires should not be the sole decision-makers in such matters.

“I was born to a rich family and will one day inherit a fortune, for which I never had to work,” the Austrian heiress said.

“Millionaires should not get to decide whether or not they contribute in a just way to the societies they live in, and without which they would never have become millionaires,” she added.

While Marlene empowers Guter Rat to decide how to use her inheritance, she has set some limitations.

The funds cannot go to profit corporations or support anything inhumane. It’s refreshing to witness someone taking responsibility for their resources in such a positive way.

Marlene inherited the substantial sum from her grandmother, Traudl Engelhorn-Vechiatto, who passed away at 95 in September 2022.

The Austrian heiress acknowledges the privilege of inheriting wealth without personal effort. She feels compelled to redistribute it herself, especially when the state doesn’t impose taxes on it.

“If politicians don’t do their job and redistribute, then I have to redistribute my wealth myself,” she declared.

Although the amount to be given away is unclear, Marlene is willing to part with up to 90% of her fortune.

Her grandmother, a descendant of the founder of BASF, had an estimated net worth of $4.2 billion.

Marlene initiated the search for the 50 representatives by sending invitations to random Austrians over 16, emphasizing diversity in the group.

The chosen individuals will convene in Salzburg from March to June, discussing and developing solutions for the benefit of society as a whole.

Marlene sees this process as a service to democracy, putting her trust in the chosen representatives without retaining veto rights.

Each participant will be generously compensated for their time, covering travel costs, childcare, and interpreters, per the NY Post.

Marlene Engelhorn is familiar with advocating for social justice and higher taxes on the wealthy.

She sees her inherited fortune as an opportunity for scrutiny and redistribution, committing to giving back and campaigning for fair tax policies.

In 2021, the Austrian heiress co-founded Tax Me Now, a collective addressing extreme inequality resulting from tax policies.

Austria abolished inheritance and gift taxes in 2008. Marlene has been vocal about the need for wealth taxes to promote social justice, Business Insider noted.

The story of Marlene Engelhorn, an Austrian heiress, is an inspiring example of using wealth to address social issues and contribute to the common good.

Marlene’s actions send a powerful message, urging others to reflect on their capacity to positively impact the world through acts of kindness and philanthropy.

Watch Marlene Engelhorn’s appeal below:

#Marlene_Engelhorn pic.twitter.com/YfDAXj0P2G

— Marlene Engelhorn (@MarleneEnglhorn) November 3, 2022