Inside the Swiss Alps vaults being built for the super rich

Key Points:

• A luxury underground vault complex is being constructed in the Swiss Alps near Lungern, designed to offer the ultra-wealthy secure storage for valuables such as art, gold, vintage cars, and wine, protected by over 100 meters of solid rock.
• The project, led by Swiss businessman Thomas Gasser of Brünig Mega Safe, will feature about 20 private vaults sold on 99-year leases starting at nearly 1 million Swiss francs ($1.23 million), with security comparable to the Swiss National Bank.
• Access to the vaults involves multiple undisclosed security checks, and owners will have legal ownership with the ability to mortgage their underground property.
• The site previously housed a restaurant, event venue, shooting range, and firefighter training center, and the project has elicited mixed reactions from local residents, some questioning its necessity and others intrigued by the prospect of luxury cars in the area.
• This initiative reflects Switzerland’s long-standing reputation for secure underground storage, catering to wealthy clients worldwide amid increasing global uncertainty, similar to other high-profile doomsday preparations by billionaires like Mark Zuckerberg.