Marlene Engelhorn, an Austro-German heiress residing in Vienna, is on a remarkable mission to give back. Her story challenges the norms of wealth inheritance and taxation, as she seeks to redistribute her substantial inheritance and make a positive impact. With a belief in the need for wealth redistribution, she has taken action to advocate for change.
The stroke of luck and a commitment to redistribution
In September 2022, Marlene inherited an estimated $4.2 billion from her grandmother, Traudl Engelhorn-Vechiatto. She considers this immense fortune as a stroke of luck in the “birth lottery.” But instead of simply enjoying her wealth, Marlene believes in using it for the greater good. She challenges the lack of inheritance tax in Austria, stating, “I have inherited a fortune, and therefore power, without having done anything for it, and the state doesn’t even want taxes on it.”
A legacy of privilege and powerful conviction
Marlene’s wealth comes from her family’s historic chemical company, BASF, founded in 1865 by Friedrich Engelhorn. The family’s net worth is estimated at $4.2 billion, granting Marlene immense privilege and power. However, what sets her apart is her deep-seated belief in the importance of wealth redistribution.
Campaigning for change
Marlene has been actively campaigning for tax policies that would impose heavy taxes on her wealth and promote government-led redistribution for over a decade. She co-founded “Tax Me Now,” a group of affluent individuals in Germany who advocate for higher taxes on their earnings. In August 2022, she made headlines when she took part in a Millionaires for Humanity event in Amsterdam, fighting for higher taxes on the wealthy.
Sharing the wealth: A citizens’ group for redistribution
Not content with personal financial contributions, Marlene aims to involve the public in the decision-making process. She has established the ‘Good Council for Redistribution’ and invited 10,000 randomly selected Austrian citizens aged over 16 to participate. From this pool, 50 individuals will be chosen, along with 15 substitutes. These participants will collaborate with academics and civil society organizations in a series of meetings held in Salzburg. The goal is to create a diverse council that represents various age groups, social classes, and backgrounds.
Promoting inclusivity and democracy
To ensure inclusivity, the meetings will provide childcare services and cover travel costs. Each participant will receive $1,300 for each attended weekend. Marlene sees these discussions as a “service to democracy” and plans to fully entrust her assets to the chosen individuals, stating, “I have no veto rights.” However, if the council cannot reach a decision on how to allocate the funds, the money will revert to Marlene.
Challenging privilege for positive change
Marlene’s journey goes beyond wealth redistribution; it challenges the notion of privilege and acknowledges its role in society. Growing up in a mansion with all its privileges gave her a narrow perspective of the world. Now, she aims to use her privilege to bring about positive change.
A call for social justice and responsibility
In a video posted by Millionaires for Humanity in May 2021, Marlene emphasized, “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. Social justice is everyone’s best interest. Wealth taxes are the least we can do to take responsibility. Tax us.”
A catalyst for change
Marlene’s actions have sparked a broader debate on inheritance tax in Austria. The Social Democrats advocate for its reinstatement, while the People’s Party, the current senior coalition partner, opposes it. Marlene Engelhorn’s story is one of profound social consciousness and a commitment to using her privilege for the greater good. Her journey challenges conventional notions of wealth and power, inspiring us to reevaluate our roles in promoting a fair and just society. In a world where wealth often begets more wealth, Marlene’s actions stand as a testament to the potential of individuals to effect meaningful change, one substantial inheritance at a time.
