Hey McKenzie Scott & Melinda Gates move over, there’s a new philanthropic heiress making waves.
Introducing Marlene Engelhorn, a Millennial heiress from one of Austria’s wealthiest families, known for her remarkable generosity. Engelhorn, whose ancestors founded the BASF pharmaceutical company and later acquired Boehringer Mannheim, recently made headlines for her unique approach to philanthropy by giving away her inheritance.
Engelhorn inherited €25 million from her family’s $4.2 billion fortune. Instead of deciding on her own, she empowered 50 members of the Austrian public to determine how her inheritance would be donated. These citizens of Salzburg, randomly selected from a pool of 10,000 people, formed a working group called the Good Council for Redistribution. Over six weeks, they attended lectures by philosophers and economics professors to inspire their decisions.
Engelhorn completely withdrew from the donation process once the committee was formed, ensuring the decision-making was entirely in the hands of the public.
The council allocated funds to 77 charitable and non-profit organizations. The largest recipients included the Austrian Nature Conservation Association and Neunerhaus, a homeless assistance organization, each receiving over $1.5 million. Additionally, two political think tanks, the Momentum Institute and Attac Austria, were awarded €1 million each.
Other notable donations included €300,000 to the Autonomous Austrian Women’s Shelters and €100,400 to the nature restoration charity, the Común Foundation.
Engelhorn’s act of generosity is particularly significant in Austria, one of the few European countries without an inheritance tax. She advocates passionately for the ultra-wealthy to donate as much of their fortunes as possible, setting a powerful example of selfless giving and community empowerment.
