Marlene Engelhorn, who is 31 and lives in Vienna, wants 50 Austrians to determine how €25m (£21.5m) of her inheritance should be redistributed.
"I have inherited a fortune, and therefore power, without having done anything for it," she said.
"And the state doesn't even want taxes on it."
Austria abolished inheritance tax in 2008, one of a handful of European countries that do not impose inheritance tax - or death duties.
Ms Engelhorn believes that is unfair.
She is a descendant of Friedrich Engelhorn, the founder of German chemical and pharmaceutical company, BASF, and inherited millions when her grandmother died in September 2022.
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