Additional Coverage:
- Among the Davos protesters: An heiress who gave away her fortune and says the rich ‘hold too much power’ (newsbreak.com)
Wealthy heiress Marlene Engelhorn joined protests in Davos, Switzerland, ahead of the World Economic Forum. Engelhorn, who inherited a fortune from a German industrialist, is an advocate for taxing the superrich.
Engelhorn criticized the forum for excluding ordinary people from discussions that affect their lives. She argued that the rich have too much power and called for higher taxes on their wealth.
Engelhorn, who received an inheritance of about $27 million, decided to redistribute it to charitable organizations through a group called the “Good Council for Redistribution.”
She is also the founder of Tax Me Now, a group that lobbies for higher taxes on the superwealthy. Engelhorn believes that excessive wealth and political influence have negative consequences, as seen in the US where many wealthy individuals hold cabinet positions.