Marlene Engelhorn at the re:publica festival on June 5, 2023.Photo:Monika Skolimowska/picture alliance via Getty
Monika Skolimowska/picture alliance via Getty
An Austrian heiress is giving away her $27 million fortune.
Austrian-German activist Marlene Engelhorn, 31, inherited the fortune from her grandmother, according to theBBC.
Earlier this week, 10,000 addresses in Austria were randomly selected and sent invitations to apply for membership, perThe Timesnewspaper in the U.K. Applications will require people to complete a short survey before a research institute narrows the applicants to 50, resulting in the sample being representative of the Austrian population.
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Geraldine de Bastion (left) and Marlene Engelhorn at the re:publica festival on June 5, 2023.snapshot-photography/B Niehaus/Shutterstock
snapshot-photography/B Niehaus/Shutterstock
“I have inherited a fortune and therefore power without having done anything for it. And the state doesn’t even want to tax it,” Engelhorn said, perThe Times. “Meanwhile, many people in full-time jobs were struggling to make ends meet and paying tax on every euro they earned from their labor.”
In 2008, inheritance tax was abolished in Austria.
The council is free to donate the entire fortune to one or as many institutions as they desire and they’re also allowed to donate the money in Austria or internationally.
However, they’re not allowed to fund inhumane or unconstitutional activities and they’re forbidden from giving the money to profit organizations or activities that go against redistributing wealth.
Meetings for the council will be held in Salzburg over six weekends where they will be able to receive expert advice on the best ways to redistribute Engelhorn’s inheritance.
source: people.com
