Millionaire seeks 50 people to distribute her fortune: 'Approximately €25 million'
A German chemical company heiress, Marlene Engelhorn, has decided to distribute her €25 million inheritance from her grandmother, Traudl Engelhorn-Vechiatto, fairly and beneficially. To achieve this, the young millionaire has set up a commission to find 50 individuals who will be tasked with allocating her fortune.
The great-granddaughter of Friedrich Engelhorn, founder of the Germany-based chemical company BASF, Austrian millionaire Marlene Engelhorn, has decided to distribute the €25 million inheritance left by her grandmother, Traudl Engelhorn-Vechiatto.
To achieve this, the young millionaire has set up a commission to find 50 individuals who will be tasked with allocating her fortune.
Setting Up a Commission
Surprised by the magnitude of her inheritance, Engelhorn concluded that distributing the wealth was the 'right decision.'
Her primary reason was quite striking. "I inherited a fortune, and consequently power, without doing anything, and the government doesn't even tax it," Engelhorn said. To distribute this wealth, which she doesn’t feel entitled to, she established the 'Council for Redistribution for Good.'
The council is currently searching for individuals worthy of a share of the fortune.
Council Members’ Salaries
This week, 10,000 applicants were randomly selected from those who applied to the Council, and 50 individuals were chosen through a screening process.
The final 50 were asked to submit essays on how they believe the inheritance should be used. Those selected to distribute the wealth will receive €1,200 for each weekend they participate. Childcare and translation services will also be provided as needed.
Engelhorn believes that the discussions among the selected 50 will 'serve democracy.'
"I Have No Veto Rights..."
Explaining how the system will work, Engelhorn said, "I have no veto rights. I am entrusting my wealth to these 50 individuals and trust them completely."
She continued, "If they are unable to do their job and distribute the wealth, then I will have to donate the fortune myself. Many people struggle to make ends meet by working full-time and paying taxes on every euro they earn. I see this as a failure of politics, and when politics fails, it's up to the citizens to deal with it themselves..."
Who Are the Engelhorns?
The Engelhorn family, significant shareholders of the German chemical company BASF, descend from the company's founder, Friedrich Engelhorn. Marlene Engelhorn is among the most important heirs of the Engelhorn legacy.
Here are some key facts about the Engelhorn family and BASF, pioneers in European industrial history:
The Engelhorn Family
The Engelhorn family emerged in the 19th century in Mannheim, Germany, notably contributing to the chemical industry.
Their most significant contribution was to the establishment and development of BASF (Badische Anilin und Soda Fabrik), one of the world's largest chemical companies.
The most renowned family member is Friedrich Engelhorn. He played a key role in the founding of BASF in 1865 and led the company in its early years.
Founded in 1865 by Friedrich Engelhorn in Mannheim, BASF initially focused on producing dyes. Over time, it has become one of the world’s leading manufacturers of chemical products.
BASF offers a wide range of products, from agriculture to health care, industrial solutions, and construction materials. It has numerous facilities and offices worldwide and makes significant contributions to the global economy.
The Engelhorn family and BASF continue to hold their place in European history as significant contributors to the industrial revolution.