IKEA founder Kamprad’s money to Clinton
From Ingvar Kamprad to Bill Clinton with love? Maybe not with love, but who knows? Part of Ikea founder Ingvar Kamprad’s fortune is now ending up with former US President Bill Clinton.
Around 170 million SEK ($26 million) to be more specific. The money is earmarked to go to Clinton’s health work in Kenya and India, according to daily Dagens Industri. It is the Holland-based foundation Ikea Foundation that has the money; the foundation’s donation is thought to create better living conditions for vulnerable children in the world. The strategy is rather that of help to selfhelp, than regular charity. According to Dagens Industri, a billion SEK ($151,005,314) a year is set aside for charity by the foundation, and one of the latest recipients is Clinton, or rather his organization CHAI (Clinton Health Access Initiative), which in part works for lowering the costs for HIV medications in developing countries. Says Managing Director of Ikea Foundation Per Heggenes: “We put 20 million euro ($25,104,616) into a project which works with curing diarrhea in children, which is one of the primary reasons for the high mortality in children in developing countries.” The collaboration means that the Ikea Foundation funds the project in Kenya and the Indian state of Madya Pradesh for four years. Since the Foundation began, funding has been allocated to India and the African countries with a large number of refugees. Ikea Foundation was established seven years ago in order to manage the company’s focus on investment in social projects on a global level it says on Ikea’s website.