Patagonia Founder Gives Company Away to Environmental Trusts

  • 📰 snopes
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The founder of outdoor gear company said the company is transferring all of its voting shares into a trust “dedicated to fighting the environmental crisis and defending nature.” — The Associated Press

The founder of outdoor gear company Patagonia, long known for environmental activism, says the company is transferring all of its voting shares into a trust “dedicated to fighting the environmental crisis and defending nature.”

Each year after reinvesting profits back into the company, Chouinard said remaining funds will be distributed as a dividend to the trusts in their ongoing efforts to fight the climate crisis. “Instead of extracting value from nature and transforming it into wealth for investors, we’ll use the wealth Patagonia creates to protect the source of all wealth,” Chouinard wrote.

 

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

 /  🏆 228. in ZA

South Africa South Africa Latest News, South Africa South Africa 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 »