Why Patagonia's Billionaire Founder Gave Away His $3 Billion Company to Fight Climate Change: ‘Earth Is Now Our Only Shareholder'

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 51%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Yvon Chouinard, the billionaire founder of outdoor apparel maker Patagonia, is giving his $3 billion company away for a greater cause: fighting climate change.

"The Patagonia Purpose Trust ... exists to create a more permanent legal structure to enshrine Patagonia's purpose and values," the announcement reads."It will help ensure that there is never deviation from the intent of the founder and to facilitate what the company continues to do best: demonstrate as a for-profit business that capitalism can work for the planet."

The company's mission can be traced to Chouinard's humble beginnings. In the 1960s, he was a pioneering rock climber in California who lived out of his car and ate damaged cans of cat food he purchased for 5 cents apiece, the Times reported. He was also a craftsman who made climbing gear and apparel for himself and his friends.

of its products are made from recycled or renewable materials like recycled polyester and organically grown cotton, the company says. Patagonia's public goal is to use 100% of those materials in their products by 2025. The company says it already uses 100% renewable energy in its stores, offices and distribution centers.for its commitment to environmental sustainability and advocacy.the Trump administration in 2017 over plans to shrink several national monuments in Utah.

"Despite its immensity, the Earth's resources are not infinite, and it's clear we've exceeded its limits," Chouinard wrote on Wednesday."But it's also resilient. We can save our planet if we commit to it."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Curious to see if anyone follows suit. Not holding my breath. 😉

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 545. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Patagonia founder Yvon Chouinard gives away company to combat climate changeFounder Yvon Chouinard said he will put 100% of the company’s voting stock into a trust. Figured the guy would be educated. At least this shows you can be easily manipulated, have no actual opinion, and use mainstream media 'facts' to live life and be rich. I'm surprised the billionaire elitist allowed this for earth !
Source: FOXLA - 🏆 445. / 53 Read more »

Patagonia founder Yvon Chouinard gives away company to help fight climate changePatagonia founder Yvon Chouinard is transferring ownership of the company after nearly 50 years into 2 entities to help fight the climate crisis. There is no climate crisis. It’s a scam.
Source: ABC7Chicago - 🏆 284. / 63 Read more »

Patagonia founder Yvon Chouinard gives away company to help fight climate changePatagonia's founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis. It´s just about control of humanity since they know the economy will collapse. CO2 lockdowns coming? The Gov: 'You can breath in but...' 🤡 The prices are high enough to ignore this brand as it is. Add this…go woke, go broke. Good riddance.
Source: ABC7 - 🏆 67. / 68 Read more »

Patagonia founder Yvon Chouinard gives away company to help fight climate changePatagonia's founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis.
Source: 6abc - 🏆 250. / 63 Read more »

Patagonia founder Yvon Chouinard gives away company to help fight climate changePatagonia's founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis.
Source: ABC7NY - 🏆 592. / 51 Read more »

Patagonia founder Yvon Chouinard gives away company to help fight climate changePatagonia's founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis.
Source: abc13houston - 🏆 255. / 63 Read more »