Marlene Engelhorn aims to break the riches mold in a unique social experiment

In a surprising move, heiress Marlene Engelhorn is on a quest to redistribute her substantial inheritance of £20 million ($27.4 million) and has turned to the public for assistance.

Marlene Engelhorn, the 31-year-old heiress set to inherit a £20 million fortune from her grandmother, Traudl Engelhorn-Vechiatto, is breaking away from the conventional paths of wealth inheritance. Advocating for wealth redistribution, she has embarked on a mission to give away her vast inheritance and is seeking the help of 50 strangers.

Known for co-founding ‘Tax Me Now,’ a group advocating for higher taxes on the wealthy in German-speaking countries, Engelhorn is a vocal supporter of social justice and taxation equality. Her inheritance from the chemical company BASF, founded by her ancestor Friedrich Engelhorn, places her in a unique position to challenge traditional norms.

To fulfil her vision of wealth redistribution, Engelhorn has sent out 10,000 invitations to Austrian citizens over 16 years old. These individuals, randomly selected, will form the “Good Council for Redistribution,” comprising 50 participants and 15 substitutes. The council is set to convene in Salzburg from March to June, collaborating with civil-society organisations and academics.

Participants in the Good Council for Redistribution will receive £1,000 for each weekend they attend, covering travel and childcare costs. Engelhorn’s unconventional approach aims to gather diverse perspectives on how best to allocate her wealth for the greater good.

Acknowledging her fortunate position as a ‘birth lottery’ winner, Engelhorn advocates for millionaires taking responsibility and contributing justly to society. She has participated in events such as Millionaires for Humanity, campaigning for increased taxes on the rich.

In an interview with the Washington Post, Engelhorn highlighted the disparities in Austria’s wealth distribution, emphasizing that the richest one percent hoards up to 50 percent of the net wealth. Austria abolished taxes on gifts and inheritances in 2008, setting a unique backdrop for Engelhorn’s mission.

Engelhorn’s initiative raises questions about inheritance tax policies worldwide. While Austria abolished such taxes, the United States lacks a federal inheritance tax, with only some states implementing independent measures. In the UK, inheritance tax stands at 40 percent for estates exceeding £325,000, with exceptions for spouses, charities, and ‘community amateur sports clubs.’

Marlene Engelhorn’s social experiment challenges societal norms surrounding wealth and inheritance. As 50 strangers prepare to join forces in the Good Council for Redistribution, the heiress aims to unravel a new chapter in wealth distribution, breaking away from the conventional norms.