Yvon Chouinard, 83, said in a statement Wednesday that rather than selling Patagonia, which is valued at roughly $3 billion, his family has decided to transfer it to public trusts and nonprofit groups specifically designed to ensure all revenue not reinvested back into the business is funneled into fighting climate change and protecting the environment.
Patagonia estimates that its annual profits will be about $100 million, meaning that the contributions could significantly increase environmental activist funding.“Truth be told, there were no good options available. So, we created our own,” Chouinard said of his family’s decision to create both the Patagonia Purpose Trust and the Holdfast Collective nonprofit organization as recipients of the company’s profits.
patagonia It has to be a tax thing
patagonia Yet Patagonia has no problem using materials in its clothing derived from oil products. Hypocrites.
patagonia Maybe he could feed the poor, but nah let’s throw money at the clouds
patagonia 😂😂😂😂
patagonia What a waste
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Patagonia Founder Gives Away Entire Company To Fight Climate ChangeAll future Patagonia profits that aren’t reinvested into the company will go toward combating climate change, the company said, stripping founder Yvon Chouinard of his billionaire status. 👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼 Great article. 写7谢谢7777777777777谢谢77
Source: Forbes - 🏆 394. / 53 Read more »
Patagonia Founder Gifts Entire Company to Fight Climate ChangeThe founder of Patagonia is handing over his company, valued at $3 billion, over to trusts and non-profit organizations focused on fighting climate change. True leadership by example My chin dropped! What’s the catch?
Source: RollingStone - 🏆 483. / 51 Read more »
Patagonia Founder Is Giving His Company Away in Pledge to Fight Climate ChangeRather than sell the company or take it public, Yvon Chouinard said the outdoor clothing brand he founded nearly 50 years ago will be owned by a trust and a nonprofit organization. Lame I read the wapo or nyt article (I forget which) and I was so impressed and grateful that I resolved to buy their products from now on; until I went to their website and remembered why I didn’t buy their stuff before. (Very pricey) Holdfast Collective, the nonprofit organization, owns 98% of the company and all of the nonvoting stock, which doesn’t give it decision-making authority. The Patagonia Purpose Trust owns 2% of the company and all of the voting stock. Voting stock matters.
Source: WSJ - 🏆 98. / 63 Read more »
Billionaire No More: Patagonia Founder Gives Away the Company'Hey, friends, we just gave our company to planet Earth.' (Nice people Patagonia) vs. Right-Wing Dark Money Group Gets $1.6 Billion Donation From Tax-Dodging Business Mogul (Bad people hellbent on destroying this planet) patagonia The blood thirsty money hungry geed class gonna kill everything for centuries nytimes Okay
Source: commondreams - 🏆 530. / 51 Read more »