My Blog
Politics

Patagonia Founder Gives Away His Company

Patagonia Founder Gives Away His Company
Patagonia Founder Gives Away His Company


“A half century after founding the outdoor apparel maker Patagonia, Yvon Chouinard, the eccentric rock climber who became a reluctant billionaire with his unconventional spin on capitalism, has given the company away,” the New York Times reports.

“Rather than selling the company or taking it public, Mr. Chouinard, his wife and two adult children have transferred their ownership of Patagonia, valued at about $3 billion, to a specially designed set of trusts and nonprofit organizations. They were created to preserve the company’s independence and ensure that all of its profits — some $100 million a year — are used to combat climate change and protect undeveloped land around the globe.”

FavoriteLoadingSave to Favorites

Related posts

Ken Paxton Could See Criminal Charges Dropped

newsconquest

Jack Smith Appears To Have Gotten One Of Trump’s Top Aides

newsconquest

A Scramble for J.D. Vance’s Senate Seat

newsconquest