A citizens’ group decides how to donate the estate of an Austro-German heiress.
Earlier this year, Marlene Engelhorn formed a group of 50 people to study how to distribute the millions of dollars she inherited from her grandmother.
The money will be donated to 77 organizations, including social and climate groups, as well as prominent left-wing organizations.
Ms Engelhorn, 32, made headlines in January when She announces donation of €25m (£21m) – most of her inheritance.
Ms. Engelhorn, a descendant of Friedrich Engelhorn, founder of BASF, the giant German chemical and pharmaceutical company, is an outspoken advocate for redistributing wealth.
Earlier this year, she appointed a panel chosen by pollsters to represent Austrian society to decide what to do with her legacy.
The group held six weekend meetings in Salzburg from March to June to discuss how to use the funds.
The organization has now identified 77 different organizations, charities and think tanks that it should turn to for help, which deal with a range of issues including environmental protection, education, inclusion, health and social issues, as well as poverty, lack of access and Issues such as homelessness and affordable housing.
The minimum donation is €40,000 (£33,400) to support initiatives for data-based reporting on climate change. The largest donation was 1.6 million euros to the Austrian Union for Conservation of Nature.
One million euros were donated to the left-wing think tank Momentum Institute and Attac Austria, which opposes neoliberal economic policies and “deregulation of financial markets”.
Religious charities, including projects by the Catholic aid organization Caritas, are also beneficiaries.
In most cases, the money will be distributed over several years, the organization said.
The youngest participant in the group, 17-year-old student Kyrillos Gadalla from Vienna, said he “learned a lot” from the experience.
Ms Engelhorn said in a statement: “A significant portion of my inherited wealth, which put me in a position of power simply because I was born, is contrary to every democratic principle and has now been carried out in accordance with democratic values. redistributed.
She inherited millions of dollars after her grandmother Traudl Engelhorn-Vechiatto died in September 2022.
US magazine Forbes estimates Traudl Engelhorn-Vechiatto’s wealth at $4.2 billion (£3.3 billion; €3.8 billion).
Even before her grandmother died, Ms. Engelhorn announced that she wanted to donate the majority of her estate.
The amount she retains has not been made public, but back in 2021, Ms. Engelhorn said she wanted to give away at least 90% of her wealth because she did nothing to earn it and was just playing the “birth lottery.” Got lucky.
In the past, Ms Engelhorn has called for the reinstatement of an inheritance tax in Austria.
Austria abolished inheritance tax in 2008 and is one of the few European countries that does not impose an inheritance or death tax.
