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This heiress is going to allow 50 strangers to advise her on how to spend $27 million
A woman who comes from a European business dynasty is taking part of her inheritance and allowing 50 strangers to determine what she does with more than $27 million. Why? It’s her way of fighting wealth inequality.
Marlene Engelhorn, 31, believes the Austrian government should impose taxes on wealth and inheritance – but since they aren’t, she is taking it into her own hands, she says.
She has sent invitations to 10,000 randomly selected people in Austria, asking them to complete a survey. Out of those who complete it, she will narrow the pile down to 50 people of different backgrounds that she feels represent the Austrian population.
They will become Guter Rat – which translates to Good Council – and will help her develop ideas for how to distribute $25 million euros – more than $27 million U.S. dollars.
In her mission statement, Engelhorn says her wealth was accumulated before she was even born. “It was accumulated because other people did the work, but my family was able to inherit the ownership of an enterprise and thus all claims to the fruits of its labour,” she writes on the project’s website.
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Engelhorn inherited miilions from her grandmother, who died in 2022, according to BBC News. They are descendants of Friedrich Engelhorn, who founded BASF, a German pharmaceutical company. It is unclear how much Engelhorn, who lives in Austria, inherited from her grandmother, who Forbes estimates was worth about $4.2 billion. She declared before her grandmother died that she would be giving away about 90% of her inheritance.
Engelhorn believes many heirs give almost none of their wealth back to society and benefit from tax privileges.
“Inheriting is an imposition on society. Inheriting means being born directly into the boss’s armchair – but not even needing it. Inheriting means that doors open – doors which others never ever get to see in their lifetime. Inheriting means feeling financial security that protects you from unbearable work, unbearable or inadequate housing, health disadvantages and much more,” she writes.
Poverty is also up in Austria, she says. According to EUROSTAT, which provides statistical information on EU countries, the risk of poverty rate in Austria was 14.80% – nearing the country’s record high of 15.20% in December of 2008.
Engelhorn doesn’t want the family we are born into to determine if we have a good life. Instead of just donating the money herself, which she says “grants me power that I shouldn’t have,” she wants others to help her redistribute the money.
So, the council of 50 will meet over six weekends between March and June to have moderated discussions about how to use her wealth to create change. She will pay for their travel and stay during the conferences and will also compensate them.
The wealthiest 1% of the population in Austria holds 50% of the nation’s net wealth, according to the Guter Rat website. Most of that 1% inherited their wealth, like Engelhorn.
Austria has no estate, inheritance, or wealth taxes and yet more than 2/3 of Austrians are in favor of taxes on wealth, according to Guter Rat.
While the U.S. does have these taxes in place, very few people pay estate taxes – the tax paid when wealth is inherited. In fact, in 2016, only about 5,500 people who died had estates that were taxable, according to the Congressional Budget Office.
And in 2023, the IRS exempted up to $12.92 million from the estate tax – an 7.1% increase from 2022.
Many of the wealthiest Americans have signed the Giving Pledge, which started in 2010 with 40 of the wealthiest Americans vowing to give up a majority of their wealth to help societal problems. Members include Warren Buffett, Bill and Melinda Gates and Jeff Bezos.
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How to watch the Philadelphia Eagles vs. Los Angeles Rams NFL game today: Livestream options, more
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The Philadelphia Eagles look to extend a six-game winning streak to seven today when they take on the Los Angeles Rams at SoFi Stadium in Inglewood, California. The Eagles, who are 8-2 so far this season, are coming off a November 14 win against the Washington Commanders. The Rams, with a record of 5-5, are coming off a November 17 win against the New England Patriots.
Keep reading to find out how to watch the Eagles vs. Rams game today, even without cable.
How and when to watch the Philadelphia Eagles vs. Los Angeles Rams game today
The Philadelphia Eagles vs. Los Angeles Rams game will be played on Sunday, November 24, 2024 at 8:20 p.m. ET (5:20 p.m. ET). The game will stream on Peacock but it can also be viewed locally on NBC and the streaming platforms below.
How and when to watch the Philadelphia Eagles vs. Los Angeles Rams game without cable
While many viewers will be able to watch the game on regular NBC, you have alternatives, too. Just note that the below streaming options will require the use of an internet provider:
Peacock: Watch NBC-aired NFL games without cable
You can stream today’s game in addition to all NBC-aired NFL games and Sunday Night Football on NBC. Peacock subscribers can also watch original programming on the streamer as well as live content airing on NBC if you purchase a Peacock Premium Plus subscription. Plus, you’ll gain access to Peacock’s library of on-demand content. You can buy a one-year subscription to Peacock Premium (with ads) for $80. For $120 annually you can secure a one-year Peacock Premium Plus subscription which is mostly ad-free. Want to pay per month, instead? Peacock Premium is just $8 each month while Peacock Premium is $14.
NFL+: Watch Eagles vs. Rams live on your phone
Do you want to able to watch today’s game no matter where you’re located? Then check out NFL+. You can pay just $7 per month or $40 for the year. The network includes all games, including those being broadcast outside of your local market. You can also upgrade your subscription to NFL+ Premium with NFL RedZone. That will allow viewers to watch up to eight NFL games all at the same time.
Want to support your team? Fanatics is a great way to do so. With the latest player t-shirts, jerseys, hoodies and apparel, there’s plenty of stuff in stock to keep you covered this season. But don’t wait much longer. As each week in the season passes by, competition for this merchandise will increase. Act now before it sells out.
Head over to Fanatics now to check out the latest NFL fan gear drop.
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How to watch the Dallas Cowboys vs. Washington Commanders NFL game today: Livestream options, more
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The Dallas Cowboys will face off with the Washington Commanders today. With a record of 3-7, the Cowboys have had a tough season so far and will be looking to recover after a five-game losing streak. The Commanders, who have racked up a record of 7-4, will be trying to snap a two-game losing streak on the heels of last week’s 26-18 loss against the Eagles.
Here’s how and when you can watch the Cowboys vs. Commanders game today, whether or not you have cable.
How to watch the Dallas Cowboys vs. Washington Commanders
The Cowboys vs. Commanders game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Dallas Cowboys vs. Washington Commanders game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Experience NFL action with Fubo’s comprehensive sports streaming platform. From Sunday showdowns to primetime matchups, catch every NFL game across major networks including CBS, Fox, NBC, ABC, ESPN and NFL Network. Choose the Pro package to unlock 200+ channels and limitless DVR storage, or elevate your game-day experience with the Elite with Sports Plus package, featuring NFL RedZone’s commercial-free scoring highlights and stunning 4K quality.
Test drive the service with a no-commitment seven-day free trial, and share the excitement with family and friends — Fubo supports simultaneous streaming on up to 10 devices, so everyone can watch their favorite teams.
Catch today’s game by subscribing to Sling’s Orange + Blue tier, which features 46 channels, including ESPN, ABC, NBC, and Fox, covering local and nationally broadcast NFL games. The plan also includes 50 hours of DVR storage for added convenience. To expand your NFL coverage, consider pairing it with Paramount+ for CBS games or enhance your lineup with the Sports Extra add-on, which offers channels like NFL RedZone, NBA TV and Golf Channel.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? Then the NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Just note that NFL+ only works on phones and tablets, not TVs.
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How to watch the San Francisco 49ers vs. Green Bay Packers NFL game today: Livestream options, more
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The San Francisco 49ers will take on the Green Bay Packers today. With a split record of 5-5, the 49ers will be looking to secure a win against the Packers after last week’s tight 20-17 loss against the Seattle Seahawks. The Packers, who have racked up a winning record of 7-3 so far this season, could be tough to take down as they look to lock in their second win in a row.
Here’s how and when you can watch the 49ers vs. Packers game today, whether or not you have cable.
Here’s how and when to watch the San Francisco 49ers vs. Green Bay Packers
The 49ers vs. Packers game will be played on Sunday, November 24, 2024 at 4:25 p.m. ET (1:25 p.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the San Francisco 49ers vs. Green Bay Packers game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the following options.
Dive into NFL action with Fubo, the ultimate sports streaming platform. Watch every game from Sunday kickoffs to primetime battles on CBS, Fox, NBC, ABC, ESPN, and NFL Network. Upgrade to the Pro package for 200+ channels and unlimited DVR, or level up with the Elite + Sports Plus package for NFL RedZone’s nonstop scoring highlights in stunning 4K. Try Fubo risk-free with a seven-day trial, and enjoy the excitement on up to 10 devices simultaneously — perfect for sharing the game-day experience with family and friends.
Catch today’s game by subscribing to Sling’s Orange + Blue tier, which features 46 channels, including ESPN, ABC, NBC and Fox, covering local and nationally broadcast NFL games. The plan also includes 50 hours of DVR storage for added convenience. To expand your NFL coverage, consider pairing it with Paramount+ for CBS games or enhance your lineup with the Sports Extra add-on, which offers channels like NFL RedZone, NBA TV and Golf Channel.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the way to go. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.
How to watch the Philadelphia Eagles vs. Los Angeles Rams NFL game today: Livestream options, more
How to watch the Dallas Cowboys vs. Washington Commanders NFL game today: Livestream options, more
How to watch the San Francisco 49ers vs. Green Bay Packers NFL game today: Livestream options, more
How to watch the Philadelphia Eagles vs. Los Angeles Rams NFL game today: Livestream options, more
How to watch the Dallas Cowboys vs. Washington Commanders NFL game today: Livestream options, more