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German heir ‘aggravated’ by multibillion-dollar inheritance, wants it taxed away

A German heir inheriting billions of {dollars} from her extraordinarily rich grandparents mentioned she was “annoyed” by the incoming fortune and wants practically all of it to be taxed away.

The stunning response from Marlene Engelhorn, of Austria, got here after her grandmother died final month — forsaking the huge sum of money that got here from the household’s centuries-old chemical company.

“The dream scenario is I get taxed,” the 30-year-old told the New York Times.

Last year, in a profile by Vice News, Engelhorn instructed the outlet in German that “nobody should have that much tax-free money and power.”

Engelhorn is the co-founder of a gaggle known as Tax Me Now, an initiative of prosperous individuals who need wealth to be redistributed by means of higher taxes on the wealthy in Germany and Austria.

The heir particularly advocates for top taxes on inherited wealth as a result of, she says, the money isn’t earned by the heir and may thus be democratically allotted.

Austria, the place Englehorn resides, opted to abolish its inheritance tax in 2008.

Marlene Engelhorn
Marlene Engelhorn wants her multibillion-dollar inheritance to be taxed away.

“I am the product of an unequal society,” Engelhorn mentioned in a speech at a Millionaires for Humanity occasion in late August in Amsterdam. “Because otherwise, I couldn’t be born into multimillions. Just born. Nothing else.”

Her household’s multibillion-dollar fortune comes from Friedrich Engelhorn’s founding of the chemical company BASF in 1865. The household’s web price is estimated to be $4.2 billion, according to Forbes.

Englehorn grew up in a mansion in Vienna and attended French-language faculties, in line with the Times.

She mentioned she lived a privileged life that offered a “very, very narrow view of the world.”

In school, she gained a brand new perspective and in 2020, she started to consider wealth redistribution upon studying she could be a partial heir to her grandmother’s fortune when she died.

“I don’t think that I should be in power or in charge the way that I could be if I use my wealth accordingly,” Englehorn instructed the Times.

She mentioned inherited money needs to be taxed fairly than donated to a trigger of 1 individual’s pursuits.

“I would like tax justice to take this impossible decision off my hands,” she mentioned.

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