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Kamprad gives millions to house Swiss retirees

27 Jun 2012, 12:48

Published: 27 Jun 2012 12:48 GMT+02:00

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Kamprad, now 86 years old, has decided to offer the French-speaking town of Epalinges in the canton of Lausanne 10 million francs ($10.4 million) to build special accommodation for retirees, Swiss newspaper 24 Heures reports.

The Swede, whose flatpack furniture empire has made him one of richest people in the world, is a well-known figure in the Swiss town where he has been resident for 36 years.

“Mr Kamprad insisted that the ground and walls should belong to the municipality and not to a foundation," the town's mayor, Maurice Mischler, told the newspaper.

The money will be used mainly to build 20 apartments, with a communal space for entertainment. Rents are to be set at an affordable rate for the new prospective tenants.

“The goal is to focus on people in need,” the mayor told online news site 24 Heures.

Some of the money will be used to fund a study examining the possibility of building fifty more such apartments.

Kamprad has requested that the apartments be constructed close to a school to facilitate communication across the generations, 24 Heures reported.

According to the newspaper, Kamprad's apparent dislike for the town's previous government explained why he waited until now to make his donation.

Story continues below…

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Your comments about this article

13:39 June 27, 2012 by G Kin
Will he retire there himself?. Nice gesture even if it makes the already rich and comfortable even more comfortable.
15:04 June 27, 2012 by Casual
There is no Swiss canton of Lausanne. Epalinges is in the canton of Vaud.
15:20 June 27, 2012 by RobinHood
It's good to see wealthy philanthropists giving money to the needy citizens of Switzerland.

I'm going to follow his example and divert my own small charitable contributions from orphan children in Niger and Congo, and send it to Switzerland instead. Lead the way Mr Kamprad.
15:56 June 27, 2012 by Hauser

Since there is quite a large number of Swedes living in here Switzerland they will profit from this investment as well (when they are old) :-)
16:37 June 27, 2012 by RobinHood

I think those Swedish citizens who have chosen to move themselves and their assets to Switzerland make quite enough profits already thank you very much. Don't you?
16:59 June 27, 2012 by skogsbo
not sure what is wrong with making profit? All of his 10,000 Swedish employees live, work and pay tax in Sweden, plus Ikea will have to pay quite substantial employers tax for them too. He also gave 1 Billion Krona to his home county, so spending a fraction of this amount in the Canton he has himself lived for 36years seems quite nice of him too. Perhaps Robin you can tell us about how generous you have been in the past few years to charities etc. ? I'd imagine he is only trying to keep up with your generosity? ;)
17:20 June 27, 2012 by Hauser

Yeah probably right.

...and like most expats - including the one's on this page - they like to complain about their host country and its people.
17:55 June 27, 2012 by G Kin
@RobinHood ,

cc Hauser

Have you forgotten that Kamprad has a NAZI PAST?. His money can not just go anywhere on purely grounds of help.
20:23 June 27, 2012 by RobinHood

Is it enough if I assure you I have never given a single Crown in charity to Switzerland, and never will?

Perhaps you might tell us about your charitable contributions to Switzerland. You are going to look an awful hypocrite if you haven't made any.
13:15 June 28, 2012 by cohen
why he doesnt think of giving some to the jews he wanted to be dead so badly in the 2ww, it would look more as if he is sorry for his nazi past, or is he?
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