Marlene Engelhorn found herself with a staggering $27.3 million inheritance after her grandmother's passing in September 2022. Thanks to Austria's abolition of inheritance tax in 2008, she didn't pay a single penny in taxes on the fortune.
While many might dream of early retirement with such wealth, Marlene faces a unique dilemma. \"I've inherited a fortune, and therefore power, without having done anything for it,\" she stated. \"And the state doesn't even want taxes on it.\"
Determined to make a positive impact, Marlene plans to donate 90% of her cash. To decide the beneficiaries, she launched the Guter Rat (Good Council) project, sending letters to 10,000 Austrians over the age of 16 at random. The responses will be narrowed down to 50 decision-makers who will determine how the funds are allocated, with 15 substitutes ready in case of any dropouts.
Marlene's initiative reflects a growing movement among the world's wealthy, who are advocating for a wealth tax. They aim to encourage politicians to redistribute wealth to support billions struggling amidst the global cost of living crisis and address various other global challenges.
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Why an Austrian heiress wants to give away her $27.3 million fortune
cgtn.com
