Multi-millionaire gives away fortune
Austrian heiress Marlene Engelhorn announces plan for €25m giveaway An Austro-German heiress is setting up a citizens group to decide how she should give away much of the fortune she inherited from her grandmother. Marlene Engelhorn, who is 31 and lives in Vienna, wants 50 Austrians to determine how €25m (£21.5m) of her inheritance should be redistributed. "I have inherited a fortune, and therefore power, without having done anything for it," she said. "And the state doesn't even want taxes on it." Austria abolished inheritance tax in 2008, one of a handful of European countries that do not impose inheritance tax - or death duties. Ms Engelhorn believes that is unfair. She is a descendant of Friedrich Engelhorn, the founder of German chemical and pharmaceutical company, BASF, and inherited millions when her grandmother died in September 2022. Traudl Engelhorn-Vechiatto's wealth was estimated by US magazine Forbes at $4.2bn (£3.3bn; €3....