Swiss voters rejected a new inheritance tax, but the debate riled up the ultra-rich
cnbc.com/2025/11/28/swiss-voters-to-decide-on-inheritance-tax-rise-for-ultra-wealthy.html
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Swiss Reject Wealth Tax Amid Billionaire Exit ThreatsSwiss voters overwhelmingly dismissed a 50% tax on inheritances above 50 million francs, fearing forced company sales and capital flight.
- Swiss voters rejected a proposal to impose a 50% inheritance tax on gifts and inheritances exceeding 50 million Swiss Francs by 78%.
- The tax initiative originated from the youth wing of the Social Democrats aiming to fund climate action and reduce wealth inequality.
- Several ultra-wealthy individuals, including billionaire Peter Spuhler, threatened to relocate due to the tax’s impact on company-held wealth.
- Business groups warned the measure could harm Switzerland’s economy by triggering forced asset sales, yet the country remains a top global wealth management hub.
The threat of forced sales of companies and the resulting weakening of the business location have convinced those entitled to vote from all political camps.— Economiesuisse, the powerful Swiss business lobby, welcoming the defeat of the inheritance tax proposal.
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