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Billionaire gives away his company in fight against climate change

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The founder of clothing brand Patagonia is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis. 9News

The founder of clothing brand Patagonia is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis.

"Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source." "They wanted us to both protect the purpose of the business and immediately and perpetually release more funding to fight the environmental crisis. We believe this new structure delivers on both and we hope it will inspire a new way of doing business that puts people and planet first."

In 2017, the company sued then-President Donald Trump over his administration's move to dramatically shrink two national monuments in Utah.

 

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I remember a time when wealthy people were expect to be philanthropic, it was how decent people behaved. Then the absolute greed of the ERW took over & set a abhorrent example, now these people rip off people’s wages, lower working conditions ect.

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