Saber Kordestanchi, a 38-year-old immigrant originally from Iran, made the list last week as one of Finland's top taxpayers for 2023, earning over 20 million euros last year through his software company Hostaway.
Kordestanchi is one of the first immigrants to reach the highest ranks of Finland's tax list, coming in just outside of the top 10 highest earners in the 11th spot.
"I'm glad if my example inspires other immigrants, but I hesitate to define role models solely by financial success," Kordestanchi responded when asked if he sees himself as a role model.
He emphasised that in Finland, wealth isn't celebrated to the same extent as in the US, but he still feels financial success often overshadows other professions, such as healthcare workers and teachers. For him, the true role models are people like his parents, both social workers dedicated to their communities.
The publicity around his earnings following Thursday's tax day was overwhelming.
"On a personal level, the attention is shocking, but on a societal level, transparency is a good thing. I wish every country would operate similarly," he said.
Kordestanchi pointed to revelations like the Panama Papers as proof of the need for open financial records.
Investing in immigrant startups
As a co-founder of Hostaway, alongside Mikko Nurminen and Marcus Räder, Kordestanchi built software to help manage short-term rentals, such as those on Airbnb.
When American firm PSG Equity invested over 160 million euros in Hostaway last year, the founders sold part of their shares, securing substantial earnings.
Unlike many high earners, Kordestanchi has not splurged on luxury goods. Instead, he said he intends to invest in startups, particularly those led by immigrants.
He recalled how challenging it was to find a job, advance his career and secure funding in Finland as a foreigner, an experience echoed by many immigrant entrepreneurs he has spoken with.
"Just a few days ago, I was chatting with a foreign driver in an Uber. He said he wanted to start a business, but that opportunities were tight," Kordestanchi told Yle.
3-month rule could limit entrepreneurial growth
Reflecting on his journey, Kordestanchi pointed out that discrimination in hiring and business can harm both companies and society. While Finland frequently discusses "brain drain," or Finns moving abroad, he believes there's little focus on the reverse side of the issue — the contributions immigrants bring to Finland.
Originally from Iran, Kordestanchi noted that the cost of his early education, healthcare and other public services was borne by Iran. When he moved to Finland in his mid-20s, he was nearly a fully trained professional, benefitting Finland's workforce.
"It's baffling that no one seems to consider this perspective," he remarked.
Kordestanchi worries that recent immigration policies may deter foreign talent. New requirements are making it more difficult for immigrants to gain citizenship in Finland, compared to countries such as Germany.
Additionally, the proposed "three-month rule" aims to link work-related residence permits more closely to employment, putting people with such permits who become jobless at risk of deportation if they don't land a new job within three months.
Kordestanchi said he believes this policy would discourage risk-taking. He recalled a time when he was officially unemployed for about six months while developing Hostaway's software.
"If the three-month rule had been in place, I wouldn't have dared to quit my job to start the company."
He also noted that his 7.2 million euro tax payment this year alone would never have existed under such constraints.
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EDIT 11.11.2024: Removed the 'venture capital' descriptor from PSG and added 'growth equity'.
