3 ms·
Quoting TFA: What emerges is an outfit that ingeniously exploits the quirks of different jurisdictions to create a charity, dedicated to a somewhat banal cause,
by decimalenough 2y ago
Quoting TFA: What emerges is an outfit that ingeniously exploits the quirks of different jurisdictions to create a charity, dedicated to a somewhat banal cause, that is not only the world's richest foundation, but is at the moment also one of its least generous. The overall set-up of IKEA minimises tax and disclosure, handsomely rewards the founding Kamprad family and makes IKEA immune to a takeover.
- Gud 2y agoAgain, mischaracterization. 1) what is banal about helping poor families? 2) The founding family is NOT handsomely rewarded. 3) unlike most charitable organizations, INGKA is set up in such a way to not rely on wealthy donors. They only use a small dividend of their massive fortune for charitable causes. This is financially responsible and is the only way to ensure longevity. Why is this a bad thing? 4) why it would be a bad thing for IKEA to be protected from a takeover, I don’t understand. Would you prefer some billionaire purchased it so they can pocket the profits themselves, instead of supporting poor families? IKEA is one of the better workplaces. Unlike 99% of all the other corporations out there, IKEA uses their profits to help people in need, not enriching their already wealthy shareholders.