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The Hustle Daily Show
The art of giving away your money
Jan 17, 2024
Explore the art of giving away millions in inheritance, including Marlen Engelhorn's $27.4m donation. Discuss Uber shutting down Drizly, Apple overshadowing Samsung, and the need for fair taxation. Learn about the federal estate tax and the greatest wealth transfer in history. Discover the importance of wealthy individuals continuing to give back and check out the HubSpot Podcast Network and the recommended DTC Pod episode featuring Mikey Taylor.
12:32
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Quick takeaways
- The story of Marlene Engelhorn highlights the need for fair taxation and wealth redistribution, raising concerns about the wealth gap.
- Uber's decision to shut down Drizly emphasizes the importance of strategic alignment and streamlining operations within the Uber business model.
Deep dives
Austrian-Aris Marlen Engelhorn gives away $27.4 million in protest
Marlen Engelhorn, a descendant of pharmaceutical company BASF's founder, inherited $27 million, but feeling uneasy about it, she formed a council of 50 Austrian citizens to help redistribute the money to charitable organizations. This move is due to Austria not having an inheritance tax since 2008. The story raises questions about fair taxation and wealth transfer, especially in the US, where there is a federal estate tax mainly targeting the ultra-wealthy. With the upcoming transfer of $84 trillion in assets from the baby boomer generation, there are concerns that the wealth gap will increase further.
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