Austria has recorded more than 50 billionaires for the first time, as reported by the business magazine trend.
At the top of the list are the Porsche and Piëch automotive dynasties with a combined wealth of €36.5 billion, closely followed by Red Bull heir Mark Mateschitz with €35.8 billion.
In a distant third position is real estate and industrial investor Georg Stumpf, holding €8.6 billion. Notably absent from the list this year is René Benko, founder of the collapsed real estate empire Signa, who held the 8th position last year with €4.2 billion.
Among the newly added billionaires is German-Austrian citizen Helmut Rothenberger, whose fortune comes from his eponymous holding company.
According to the Momentum Institute, six of the top ten wealthiest individuals in Austria inherited their wealth, contributing to a concentration of fortunes among the country’s richest.
Earlier this year, Marlene Engelhorn, a descendant of Friedrich Engelhorn, founder of the major chemical and pharmaceutical company BASF, pledged to donate €25 million, the bulk of her inheritance. Last month, a specially appointed citizens’ group allocated the funds to 77 organisations, including social, climate, and prominent left-wing groups.
The trend ranking follows the Global Wealth Report by the Boston Consulting Group, which indicated an increase in the number of dollar millionaires in Austria over the past year.
Read more: Austria’s Millionaires Rise as Wealth Divide Widens
