Care home sale makes Tuula Laulaja a millionaire at 67

Tuula Laulaja says the sale of her care home business has given her financial security in old age. The 68-year-old former entrepreneur received 1.5 million euros for the business, Yle reports, and has already used some of the money for breast cancer treatment.

Laulaja sold the care home in Espoo’s Tapiola district to healthcare company Attendo in February 2025. She says she paid about 300,000 euros in tax on the sale. Tax records recently published by the authorities show total income of one million euros.

“If something happens, I can afford to buy help and care,” Laulaja says. She says the money could also pay for a place in a care home if she needs one.

Laulaja led care homes for 45 years, more than 20 of them as an entrepreneur. She first became a care home manager at 21, after applying for a nursing job at a new care home in Kihniö and instead being chosen to lead it.

She says she is satisfied with the price she received and feels she earned it after carrying responsibility throughout her two decades as a business owner. Her phone had to be available at all times, and former colleagues still call to ask for advice.

Laulaja started her own business after her two children had grown up and moved out. In the early years, she says, the work was demanding: she cleaned, covered night shifts and handled her other duties. She attributes the workload partly to setting prices too low when bidding for a contract with the City of Espoo. At the next tender, three years later, she charged more appropriately.

Laulaja founded Villa Tapiola, a care home in Espoo, more than 20 years ago. She wanted residents to have freedom over their routines, including when they woke up and went to bed, and the option to use the sauna. All residents had memory disorders.

The care home took inspiration from businesses in Denmark and Japan, which staff visited. Laulaja says the home adopted the Danish practice of holding a dinner with wine every Saturday. She also maintained a staffing level of 0.7 carers per resident. The statutory ratio for care places for older people is currently 0.6 carers per resident, according to the article.

The business received awards, and families praised the care, Laulaja says. She describes her years running it as rewarding. Eventually, private individuals bought the service.