Swedish Hero Immunity for Visible Founders

“Ingvar Kamprad managed for a long time to be a public figure without being particularly scrutinized, despite his tax planning, moving both his personal belongings and his companies out of Sweden, and buying a vineyard in France. Not very folksy. But he cultivated his ordinariness, a shabby man from Småland with alcohol problems. Took a wrong step in Nazi circles in his youth—“well, but he was so young,” was a common reaction. When the critical articles about the fabulously wealthy tax exile Kamprad finally came, they never really stuck in the Swedish public’s consciousness. They did not want to know, or did not care. More were proud of him than angry. He was, and is, a Swedish hero. Former Social Democratic politician Stefan Stern explains the phenomenon like this: — Many may think that a boss is not so special that he or she has earned a high salary. But rich entrepreneurs are in a way something unattainable, therefore they become more like superheroes. Such success is seen as the success of all of Sweden.”

“Even clothing billionaire Stefan Persson, the second generation in the family business, manages just fine. When he does run into problems, it’s not about his enormous wealth, but rather about H&M’s connections to child labor in poor countries. But he has never been accused of tax crimes and is registered in Sweden. Instead, he and a few others in the same category manage to achieve high status as “Sweden’s biggest taxpayers.” While there is an underlying sensationalist fascination with someone who pays 1.5 billion in taxes per year, the image of a pillar of society is created. So, judging by the Persson family, a Swede is allowed to become very rich without being condemned, but it must have happened in a way the public can understand. The understanding creates a certain acceptance for inequality in society.”