Austrian heiress gives away €25m fortune

Who wants to be a millionaire? Not Marlene Engelhorn. Six months ago, the 32-year-old social activist announced plans to give away her €25 million inheritance as a member of the family behind the BASF chemicals multinational.

The campaign has drawn attention to the issue of tax justice, particularly in Germany where, Engelhorn estimates, the taxman takes just 9 per cent of the estimated €400 billion inherited annually. The Tax Me Now campaign says a similar pattern is visible worldwide where, according to the most recent Oxfam report, 1.1 per cent of the world’s population owns about 45.8 per cent of the wealth.

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