Ms Engelhorn inherited the wealth from her family, which owns the chemical giant BASF
Austrian-German heiress Marlene Engelhorn, aged 31, has declared her intention to donate her inherited $27.4 million fortune from the chemical giant BASF, owned by her family. Criticizing the government’s failure in wealth distribution, she expressed the need to address societal inequality independently. Engelhorn co-founded Tax Me Now in 2021, a collective advocating for fair tax policies in German-speaking countries. She highlighted the issue of heirs, including herself, avoiding inheritance taxes, thus contributing minimally to society. In Austria, where the top 1% holds 50% of net wealth, Engelhorn emphasized the urgency for wealth redistribution.
Engelhorn plans to involve a citizens group in deciding how to distribute her fortune, emphasizing her commitment to a more equitable financial system. The exact portion of her wealth she intends to retain remains unclear. Austria’s elimination of inheritance tax positions it uniquely among European countries. Engelhorn’s actions underscore her advocacy for a fairer tax system and her belief that if politicians fail in wealth redistribution, individuals must take responsibility for societal well-being.
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