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Austrian heiress lets strangers give away £21m fortune | World Information

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An Austrian heiress who denounced the dearth of taxes on wealth and inheritance has given away the majority of her cash – some £21m.

For years, Marlene Engelhorn has criticised what she calls the delivery lottery by which she inherited tens of thousands and thousands and doesn’t have to present any of it to the state, and known as for change.

In January, she introduced {that a} panel of her fellow Austrians would determine how you can distribute the large sum, with none intervention on her half.

She is a descendent of Friedrich Engelhorn, who based German chemical substances big BASF in 1865, and inherited a big sum of household cash in 2022.

A spokesperson stated she was making a gift of “the overwhelming bulk” of her fortune, although she retains an undisclosed sum.

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“A big a part of my inherited wealth, which elevated me to a place of energy just by advantage of my delivery, contradicting each democratic precept, has now been redistributed in accordance with democratic values,” the 32-year-old stated in a press release.

The 77 organisations chosen by the panel to obtain a share of the cash – starting from £33,700 (40,000 euros) to £1.35m (1.6m euros) – had been introduced on Tuesday.

The panel had examined “above all of the query of the consequences of our uneven distribution of wealth” and debates on “democracy and participation in it, tax justice and social inequality,” Ms Engelhorn stated.

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One of many targets the 50-person panel, aged between 16 and 85, aimed to assist was “a fairer distribution of wealth, extra transparency and reporting on that difficulty and higher information on very giant accumulations of wealth”, one member of the panel, retail worker Elisabeth Klein stated.

In assist of that purpose, two of the 4 donations of greater than one million euros went to the Momentum Institute, a left-wing think-tank, and Attac Austria, which opposes neoliberal financial coverage and “deregulated monetary markets”.

Different points lined included housing, integration, ladies’s rights and preventing poverty.

“Now, it’s as much as the political actors to do justice to what this group consultant of the Austrian inhabitants has embodied,” Ms Engelhorn stated, calling for extra debate on these points.

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