Pro-tax Austrian heiress gives away $27M of her inheritance
11 days ago
- #philanthropy
- #wealth redistribution
- #social justice
- Marlene Engelhorn, an Austrian heiress, donated 25 million euros to 77 organizations, including social, climate, and left-wing groups.
- She criticized Austria's lack of wealth and inheritance taxes, calling it undemocratic.
- A panel representing the Austrian public decided how to distribute the funds without her intervention.
- The donations ranged from 40,000 euros to 1.6 million euros, supporting causes like climate change, wealth redistribution, and social justice.
- Engelhorn is a descendant of BASF's founder and inherited her wealth from her grandmother.
- The panel aimed to promote fairer wealth distribution, transparency, and better data on wealth accumulation.
- Large donations went to left-wing think-tank Momentum Institute and Attac Austria, opposing neoliberal policies.
- Other supported causes included housing, integration, women's rights, and poverty alleviation.
- Engelhorn urged political actors to address these issues and foster more public debate.