In a bold move challenging wealth inequality, Austrian heiress Marlene Engelhorn gave away £21 million of her inherited fortune to various social causes, allowing a diverse panel to decide the beneficiaries.

Engelhorn, a vocal critic of tax policies on wealth and inheritance in Austria, entrusted a 50-member panel to allocate her substantial donation in a bid to promote democratic values and address social inequities. The funds have supported a wide array of initiatives, including climate action, women's rights, and poverty alleviation. This unprecedented act of philanthropy reflects both her commitment to social justice and her belief in equitable wealth distribution.

Marlene Engelhorn's decision to redistribute her inherited wealth has been viewed as a significant statement against the current tax system in Austria. She has often criticized the country's lenient taxation policies on wealth and inheritance, which she believes contribute to economic disparities.

Engelhorn comes from a storied family lineage. She is a descendant of Friedrich Engelhorn, who founded the German chemicals giant BASF, one of the world's largest chemical companies. Her inheritance, approximately £21 million or 25 million euros ($27 million), was passed down to her in 2022 from her grandmother, Gertraud Engelhorn-Vechiatto.

Rather than unilaterally deciding how to use her fortune, Engelhorn took an unconventional approach by establishing a panel of 50 people to decide on the distribution of the funds. This diverse group, ranging in age from 16 to 85, was tasked with allocating the money to causes they found most deserving.

The donations, announced in June, went to 77 recipients and ranged in size from 40,000 euros to 1.6 million euros. The intention behind this broad distribution was to address a variety of social issues. Two major recipients were the Momentum Institute and Attac Austria, each receiving over one million euros.

One of the significant contributions was directed towards environmental efforts. The Austrian Nature Conservation Federation was granted 1.6 million euros to support its initiatives in preserving the nation's natural habitats.

Beyond environmental concerns, the panel of Austrians ensured that the donations also catered to urgent social issues. Contributions supported efforts in housing, integration, women's rights, and combating poverty. Various social and climate groups, along with prominent left-wing organizations, were among those who received funding.

Engelhorn's wealth allowed her to hold a considerable amount of power, which she found undemocratic. By delegating the decision-making process to a panel, she aimed to decentralize that power and promote a more democratic form of wealth distribution.

The panel's discussions covered critical topics such as wealth distribution, democracy, tax justice, and social inequality. By examining these pressing issues, the group aimed to ensure that the funds would have a meaningful and lasting impact on society.

While Engelhorn gave away a large portion of her fortune, she retains an undisclosed amount. However, her primary focus remains on supporting causes that align with her values of democratic wealth distribution and social justice.

Engelhorn emphasized the importance of this redistribution effort, noting that it aligns with her deeply held belief in democratic values. By involving ordinary citizens in the allocation process, she hopes to set a precedent for how wealth can be used to foster social equity.

In summary, Marlene Engelhorn's substantial philanthropy is seen as a bold step towards challenging economic inequalities and advocating for tax reform in Austria. Her innovative approach in allowing a diverse panel to allocate her inherited wealth underscores a commitment to democratic principles and addressing social inequities.