BuzzFeed conveniently forgets that IKEA is a chairty

Flickr: yasuhirotao / Via Creative Commons

Flickr: yasuhirotao / Via Creative Commons

BuzzFeed put  up another one of their awesome top 100000 lists.  But this one is the secretly ‘sponsored’ one from a company, this company is IKEA.  Which everyone loves, but did you know that they are one of the worlds biggest charities?

They pay no taxes.

The charity’s stated goal is “to promote and support innovation in the field of architectural and interior design,”.

 In 2004, the company pulled in a 1.4 billion euro profit, but since it’s owned by a tax-exempt charity, it didn’t pay a dime. Moreover, the Byzantine structure of for-profit holding companies nestled within non-profit charities effectively safeguards Kamprad from any sort of outside takeover bids for his housewares behemoth.

http://mentalfloss.com/article/18575/ikea-worlds-largest-charity

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Walter Marrero 221 posts

An executive analyst at an elite technology & business focused publication.

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