Imagine inheriting millions and deciding to give it all away! 💰❌ That's exactly what Austrian heiress Marlene Engelhorn is doing, and she's making headlines for it.
When Marlene's grandmother passed away in September 2022, she was set to receive a whopping $27.3 million. Most of us might dream of early retirement with that kind of cash, right? But Marlene, at just 31, felt conflicted. \"I've inherited a fortune, and therefore power, without having done anything for it,\" she shared. \"And the state doesn't even want taxes on it.\"
Austria abolished inheritance tax in 2008, meaning Marlene didn't pay a single penny in taxes on her newfound wealth. Feeling the weight of unearned privilege, she's decided to give away 90% of her inheritance! But here's the twist: she's letting the public decide where the money goes. 🤯
Marlene launched the Guter Rat (Good Council) project, sending letters to 10,000 randomly selected Austrians over 16 years old. From the respondents, 50 decision-makers will be chosen to determine how the funds will be distributed, with 15 substitutes in case anyone drops out.
She's not alone in this movement. A growing number of wealthy individuals are advocating for wealth taxes and fairer distribution of riches. They believe in boosting the prospects of billions struggling amidst a cost-of-living crisis and addressing other global challenges.
Marlene's bold move is sparking conversations about privilege, responsibility, and the role of the ultra-rich in society. 🌍✨ What would you do in her shoes?
Reference(s):
Why an Austrian heiress wants to give away her $27.3 million fortune
cgtn.com
