Heiress and activist Marlene Engelhorn picked 50 strangers, who decided which organizations would receive funding from her $27 million inheritance.
Exclusive: New Jersey’s Most Expensive Listing Is This $28 Million Equestrian EstateEngelhorn, who inherited an eight-figure fortune from her late grandmother, made headlines when she announced that she is letting random strangers decided the fate of her unearned money,reported.
Per the council’s website, the money couldn’t be dished out to any charities or people who are “unconstitutional, hostile, or inhumane.” In addition, the funds couldn’t be given to for-profit institutions or redistributed to group members or “related parties.” The biggest amount of cash was gifted to the Austrian Society of Nature Conservation, which received about $1.7 million. At the same time, a Vienna-based organization dubbed Neunerhaus was granted $1.6 million.
Aware of her own entitlement, Engelhorn, a descendant of Friedrich Engelhorn, the founder of one of the world’s largest chemical companies, toldthat she plans on entering the workforce and paying taxes. “I’ll always be a privileged person from a wealthy background,” she said. “This is not changeable or deniable.” and is the cofounder Taxmenow, a campaign focused on combating wealth inequality.
“If politicians don’t do their job and redistribute, then I have to redistribute my wealth myself,” she explained in her statement to BBC. “Many people struggle to make ends meet with a full-time job, and pay taxes on every euro they earn from work. I see this as a failure of politics, and if politics fails, then the citizens have to deal with it themselves.” Abigail Montanez is a staff writer at Robb Report.
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