Patagonia founder just donated the entire
company, worth $3 billion, to fight climate change
CNBC,
by
Lora Kolodny
Original Article
Posted By: NorthernDog,
9/14/2022 7:55:31 PM
Patagonia founder Yvon Chouinard, his spouse and two adult children are giving away their ownership in the apparel maker he started some 50 years ago, dedicating all profits from the company to projects and organizations that will protect wild land and biodiversity and fight the climate crisis. The company is worth about $3 billion, according to the New York Times. In a letter about the decision, published on the Patagonia website on Wednesday, Choiunard wrote of “reimagining capitalism,” and said: “While we’re doing our best to address the environmental crisis, it’s not enough. We needed to find a way to
Reply 1 - Posted by:
snapper451 9/14/2022 8:01:06 PM (No. 1277589)
Reminds me of a great memory a few years ago, at a Little League All Star Game, where my grandson picked off a kid off first base. His cousin, in the stands , says loudly “what an idiot”! When he sees this story, he’ll have the same reaction. Two truths for today - there ain’t no such thing as climate change and Epstein didn’t kill himself.
30 people like this.
Reply 2 - Posted by:
downnout 9/14/2022 8:06:07 PM (No. 1277594)
Perhaps they should stop encouraging eco-tourism in the threatened areas. That would help a lot more than throwing money at trust fund virtue signaling snowflakes.
17 people like this.
Reply 3 - Posted by:
DVC 9/14/2022 8:16:58 PM (No. 1277604)
Years ago, when Chouinard was just a mountaineer, and my wife and I regularly climbed, we bought some gear from Patagonia. In recent decades Patagonia morphed into a urban-suburban clothing brand with froo-froo designs and ridiculously high prices.
And now this rotren old puke will be wrecking the world for a damned climate scam.
22 people like this.
Reply 4 - Posted by:
Californian 9/14/2022 8:17:14 PM (No. 1277605)
Read the article. This is just a tax avoidance scam. My financial advisor described something very similar to me if I wanted to go zero taxes and risk an IRS audit.
The trust getting the stock is controlled by the family. The family takes salaries from the trust set by themselves to manage the trust. The company only gives "profits not re-invested into the company" to fake climate change initiatives. Who defines profit? The family does.
And they get great press while avoiding 99% of their tax bills.
32 people like this.
Reply 5 - Posted by:
Hermit_Crab 9/14/2022 8:17:43 PM (No. 1277606)
Idiot guy and his idiot kids shoulda just moved to Patagonia to commune with nature, escape from 'global warming' and just be quiet.
6 people like this.
Reply 6 - Posted by:
Birddog 9/14/2022 8:19:27 PM (No. 1277608)
Is that pre tax? or will they pay their "Fair Share" first?
(as opposed to the gates, buffets etal that avoid paying their $billions in "fair share" by putting their money in Tax exempt trusts and foundations).
8 people like this.
Reply 7 - Posted by:
Strike3 9/14/2022 8:33:03 PM (No. 1277619)
This question applies to others as well but how do morons like this make three billion dollars?
7 people like this.
Reply 8 - Posted by:
mseegal 9/14/2022 8:44:11 PM (No. 1277636)
Why are all the people with money on the liberal side? Where are the wealthy conservatives?
5 people like this.
Reply 9 - Posted by:
scottj 9/14/2022 8:46:51 PM (No. 1277640)
Wow. Could you please describe what you mean by climate change? The climate changes all the time. Where is all this climate change taking place? I haven't seen it. What are you trying to achieve? Are you trying to get the climate to stay the same? What has to happen where you can say "We have defeated climate change"?
13 people like this.
Reply 10 - Posted by:
JHHolliday 9/14/2022 8:47:25 PM (No. 1277642)
I bought something from them some twenty years ago and they started sending me a catalog every few weeks. I could tell management was super-woke so wrote them a letter (snail mail, no less) and told them to cease and desist. I got a snarky letter back that was hardly designed to win my business back. Their stuff was mostly ugly, cheap overpriced crap from Peru, Chile, etc.
7 people like this.
Reply 11 - Posted by:
smokincol 9/14/2022 8:56:25 PM (No. 1277651)
he sounds like he 's French, to me, so, par for the course = glad I never bought any Patagonia stuff
3 people like this.
Reply 12 - Posted by:
stablemoney 9/14/2022 8:56:54 PM (No. 1277652)
The left should lead by example. Park your cars and airplanes, turn off the a/c and heating, eat vegetables, stay home.
6 people like this.
Reply 13 - Posted by:
pugetpower 9/14/2022 10:05:13 PM (No. 1277699)
Have to disagree with #10, their clothing was universally good quality, but overpriced. They got a little too
proud of the pantagonia tag. BTW, the stuffs mostly made in the US and China. What they do with their business is their business.
2 people like this.
Reply 14 - Posted by:
padiva 9/14/2022 10:08:06 PM (No. 1277701)
So...who gets to decide what the ideal climate will be?
In the name of equality and equity, will the climate be the same for the whole planet?
7 people like this.
Reply 15 - Posted by:
Lake Dweller 9/14/2022 10:28:26 PM (No. 1277705)
Effing idiot. I have aggressively avoided this woke company’s products for years. Same with Nike and Disney.
4 people like this.
Reply 16 - Posted by:
DVC 9/14/2022 10:35:57 PM (No. 1277712)
#7, froo-froo faux outdoorsy clothing, very well made, but triple of sane prices.
Started with real mountaineering gear, pitons, ropes, nuts, carabinrrs, slings, harnesses, ice axes, etc.
Made most iif the money selling clotges after tge beautiful people decided that Patagonia clothes were cool, and being insanely expensive was a feature to some of his customers.
Drove me away decades ago.
4 people like this.
Reply 17 - Posted by:
bobn.t 9/14/2022 10:41:19 PM (No. 1277717)
Dumb arse Fools.
2 people like this.
Reply 18 - Posted by:
watashiyo 9/15/2022 12:21:14 AM (No. 1277743)
It's a scam for tax write-off.
4 people like this.
Reply 19 - Posted by:
pensom2 9/15/2022 1:49:33 AM (No. 1277770)
A tax dodge guaranteeing perpetual employment for children, grandchildren and perhaps g-grandchildren.
2 people like this.
Reply 20 - Posted by:
Rinktum 9/15/2022 3:14:50 AM (No. 1277795)
#4, Tell me this is what those 87,000 armed IRS agents are going to be doing. Checking out tax cheats like this guy. Wherever there are tax laws there are people willing to find away around them. The sanctimony of this guy is sickening if he is doing what you said he was. Makes sense. These lefties believe their political activism gives them a pass.
5 people like this.
Reply 21 - Posted by:
hoosierblue 9/15/2022 7:58:54 AM (No. 1277912)
It's his money, if he wants to put it down the sewer, so be it. Just keep your lousy hands off of MY money.
0 people like this.
Reply 22 - Posted by:
Hazymac 9/15/2022 8:17:05 AM (No. 1277926)
Recently Pink Floyd's lead guitarist and vocalist Dave Gilmour auctioned off most of his guitars, including his famous black Fender Stratocaster which went for $3 million. The cause for this sale? Environmentalism. Dave should have kept his guitars. What a waste. The climate always changes, and has since the beginning of time, but humanity has little to no effect on either weather or overall climate. Physically, the sun rules the earth. Humanity is along for the ride.
0 people like this.
Reply 23 - Posted by:
Laotzu 9/15/2022 8:49:07 AM (No. 1277955)
You ever notice how none of this money ever goes to science, engineering or design firms? It all goes to "activists."
1 person likes this.
Reply 24 - Posted by:
MDConservative 9/15/2022 11:24:20 AM (No. 1278171)
He's worth $1.2 billion...what the rest of the family has is additional. None will starve. Whatever. It's their company.
0 people like this.
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People like this end up drinking Kool-Aide out of a rusty vat in a Guyanese jungle. It's all to 'save the world'.