Photo: Katt Yukawa | Unsplash
A young German-Austrian heiress has realized her plan to redistribute most of her assets to organizations that are devoted to protecting the climate, improving education and health care, or supporting gender equality among other issues. Marlene Engelhorn, 31, asked a group of 50 diverse citizens in Austria earlier this year to decide how her 25 million euros ($26.8 million) worth of wealth should be distributed. She argued that assets are unequally distributed in the country and by sharing her wealth she is helping make up for the unfair distribution of wealth in Austrian society. “A large part of my inherited wealth, which through my birth has elevated me to a position of power that contradicts every democratic principle, has now been redistributed in accordance with democratic values,” she said. Some 77 organizations in Austria — renowned and large, as well as small and relatively unknown ones — will receive money from Engelhorn, which include aid groups, women’s shelters, and newspapers run by homeless people, fire departments, and pro-democracy groups. She will retain a “transition budget” to help her pivot to a working life.
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