Patagonia founder just donated the entire company, worth $3 billion, to fight climate change

[Gefn]

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:


https://www.cnbc.com/2022/09/14/patagonia-founder-donates-entire-company-to-fight-climate-change.html

[Gefn]

Wasn’t familiar with this company

Here is their website

https://www.patagonia.com/home/

They have some really lovely things

[roamer_1]

Wasn’t familiar with this company

Here is their website

https://www.patagonia.com/home/

They have some really lovely things

Patagonia and North Face are probably the two premier brands in mountain gear. They are brands I hear nearly every day...

[Hoodat]

Patagonia and North Face are probably the two premier brands in mountain gear. They are brands I hear nearly every day...

Patagonia polypro long johns are a must.

[EdinVA]

The company’s non-voting stock, worth close to $3 billion, will be owned by a collective that will use all profits that aren’t reinvested into the business to fight climate change.

Non voting stock.... they donated revenue, not control..

[roamer_1]

Patagonia polypro long johns are a must.

I have a Patagonia puffy* that's been living in my gobag for probably a decade now... I need a new one. This one looks like it's been through a firefight what with all the ember burns on it. Though my next one will probably be North Face.

* A 'puffy' is generally a polyfill jacket that folds up into it's own pocket - Very light weight and small, for use in emergencies or around camp when drying your big coats out. A very important piece of gear.

[Hoodat]

Polypro → Wool → Gore-tex

The perfect combo.  Wool is great because it keeps you warm even when wet.  Polypro keeps you dry even when wet.  And Gore-tex allows the wool to dry out.

[LMAO]

How will they know when the “fight” against climate change is won?

[Smokin Joe]

How will they know when the “fight” against climate change is won?

When southern California homeless are whining about freezing to death (at the lower altitudes).

[SZonian]

I have a Patagonia puffy* that's been living in my gobag for probably a decade now... I need a new one. This one looks like it's been through a firefight what with all the ember burns on it. Though my next one will probably be North Face.

* A 'puffy' is generally a polyfill jacket that folds up into it's own pocket - Very light weight and small, for use in emergencies or around camp when drying your big coats out. A very important piece of gear.

Check out Mountain Hardwear...I prefer it over NF.  NF went woke some time ago as well against oil even though they use fabrics made from oil...

[aligncare]

There’s a sucker born every minute.

This idea that human activity is dooming the planet but with more taxes and subsidies we can save it, was created by the masterminds in government. Its roots are in politics. Save the planet, vote democrat!

And by the way have they mentioned to you how they care for Mother Earth more than those mean old republicans?

[Kamaji]

Non voting stock.... they donated revenue, not control..

Bingo!

And got a nice tax deduction for it, as well.

[roamer_1]

Check out Mountain Hardwear...I prefer it over NF.  NF went woke some time ago as well against oil even though they use fabrics made from oil...

Yeah I know... in both cases. Patagonia too... But you will play hell staying away from NF or Pat in mountain gear.

I am the least abuser. I am more mountaineer or bushcrafter than I am hike-thru. Most of my gear is hard use and regular... A lot of cotton and wool. The only things I go hiteck on are things irreplaceable otherwise - That puffy is a worthy example... The thing that makes that worthy is that it can stay compressed for months and not lose its ability to loft - Necessary because it lives in my go-bag - And because it is so small and light when compressed.

Such a thing comes to me best recommended, and all my friends say the North Face puffy is the thang. The quality of it matters more than the politics.

[GrouchoTex]

Dumbasses.
They think they can control the Sun and the Moon?
95% effect on weather comes from those two.
5%, at best, from other sources.

[catfish1957]

If I were to venture, I'd guess at least 75% of Patagonia's customer base leans right.

Not products I frequent, but if fans would follow the "go woke-go broke" philosophy, these idiot owners might get the message.

[massadvj]

Let us be clear here.  All he is really doing is avoiding income and estate taxes.  His family still controls the assets, but holding them as a non-profit shields the money from future taxation.

So what we have is a billionaire "not paying his fair share," but of course no one on the left will complain in this particular case because, you know, climate change. In fact, he will be hailed as a saint.  This is the Bill Gates strategy of asset management.

[Kamaji]

Let us be clear here.  All he is really doing is avoiding income and estate taxes.  His family still controls the assets, but holding them as a non-profit shields the money from future taxation.

So what we have is a billionaire "not paying his fair share," but of course no one on the left will complain in this particular case because, you know, climate change. In fact, he will be hailed as a saint.  This is the Bill Gates strategy of asset management.

[roamer_1]

If I were to venture, I'd guess at least 75% of Patagonia's customer base leans right.

Not products I frequent, but if fans would follow the "go woke-go broke" philosophy, these idiot owners might get the message.

Sorry... All mountain gear companies are woke... With the possible exception of REI. All of em.
And they won't change. There is an uneasy truce between the hippie granola heads and the hunters. It has always been there.

Kinda like most country singers being democrats. Kinda 'shutup and sing' ... Same thing.

[Fishrrman]

Shades of Ayn Rand...
"Twentieth Century Motor Company"...

[Wingnut]

I'm not a tax lawyer but I stayed in a Holiday Inn Express once and I see a huge tax dodge. Also there is a talk of a divorce and a gay lover involved in this story.   

 

[SZonian]

Sorry... All mountain gear companies are woke... With the possible exception of REI. All of em.
And they won't change. There is an uneasy truce between the hippie granola heads and the hunters. It has always been there.

Kinda like most country singers being democrats. Kinda 'shutup and sing' ... Same thing.

https://nypost.com/2018/03/02/rei-drops-key-supplier-of-outdoor-gear-because-it-also-makes-guns/

[Kamaji]

I'm not a tax lawyer but I stayed in a Holiday Inn Express once and I see a huge tax dodge. Also there is a talk of a divorce and a gay lover involved in this story.   

 

[roamer_1]

https://nypost.com/2018/03/02/rei-drops-key-supplier-of-outdoor-gear-because-it-also-makes-guns/

Then I rest my case.