In a groundbreaking move that challenges traditional notions of wealth and privilege, Austro-German heiress Marlene Engelhorn has embarked on a remarkable journey of philanthropy, vowing to redistribute her staggering $4.2 billion inheritance. Her story is a testament to the power of personal conviction and a bold challenge to the status quo of wealth inheritance and taxation.
Marlene’s incredible journey began in September 2022 when she unexpectedly inherited her vast fortune, which she candidly refers to as a “stroke of luck in the birth lottery.” The source of her wealth traces back to the historic chemical company BASF, founded by her ancestor Friedrich Engelhorn in 1865, and the family’s ownership of Boehringer Mannheim, a pharmaceutical and medical diagnostics equipment company, until its sale for $11 billion in 1997. Forbes estimates the Engelhorn family’s net worth at $4.2 billion, placing Marlene in a position of immense privilege and power.
What sets Marlene apart, however, is her unwavering belief in the urgency of wealth redistribution. She openly criticizes Austria’s lack of an inheritance tax, which was abolished in 2008, making Austria one of the few European countries without such a tax. In her own words, she lamented, “I have inherited a fortune, and therefore power, without having done anything for it, and the state doesn’t even want taxes on it.”
Marlene’s conviction led her to action even before her inheritance materialized. For over a decade, she actively campaigned for tax policies imposing heavy levies on her wealth and advocating for government-led redistribution. She co-founded “Tax Me Now,” a group of affluent individuals in Germany dedicated to higher taxes on their earnings.
In August 2022, Marlene made headlines when she took part in a Millionaires for Humanity event in Amsterdam, passionately advocating for higher taxes on the wealthy. Her dedication to this cause is reflected in her commitment to donate approximately 90 percent of her inheritance.
But Marlene’s philanthropic efforts go beyond personal financial contributions. She aims to involve the public in decision-making by establishing a citizens’ group known as the ‘Good Council for Redistribution.’ Marlene extended 10,000 invitations to randomly selected Austrian citizens aged over 16, inviting them to participate in this groundbreaking initiative.
Those interested can register online or by phone, with 50 individuals ultimately chosen to participate, along with 15 substitutes in case of dropouts. These participants will engage in meetings held in Salzburg from March to June, collaborating with academics and civil society organizations. Marlene’s vision is to assemble a diverse council representing various age groups, social classes, and backgrounds.
Marlene firmly believes in wealth redistribution, even in the absence of effective political action. She stated, “If politicians don’t do their job and redistribute, then I have to redistribute my wealth myself.” Her hope is to see her wealth put to good use in addressing societal inequalities and injustices.
To ensure inclusivity, the meetings will provide childcare services and cover travel costs, offering each participant $1,300 for each attended weekend. Marlene views these discussions as a “service to democracy” and intends to fully entrust her assets to the chosen 50 individuals, emphasizing, “I have no veto rights.” However, in the event that the council cannot reach a decision on how to allocate the funds, the money will revert to Marlene.
Marlene’s journey is not just about wealth redistribution; it’s also about challenging the notion of privilege and acknowledging its role in society. She recognizes that her upbringing in a mansion with privileges like a garden gave her a narrow perspective of the world. She now strives to use her privilege to bring about positive change.
In a video posted by Millionaires for Humanity in May 2021, Marlene boldly stated, “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 in everyone’s best interest. Wealth taxes are the least we can do to take responsibility. Tax us.”
Marlene’s actions have ignited a broader debate on inheritance tax in Austria. While the Social Democrats advocate for its reinstatement, the People’s Party, the current senior coalition partner, opposes it, emphasizing its stance against new taxes and its commitment to increasing net income for citizens.
Marlene Engelhorn’s story is a profound testament to social consciousness and the use of 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 perpetuates itself, Marlene’s actions stand as a testament to the potential of individuals to effect meaningful change, one substantial inheritance at a time.
