Posted on 09/14/2022 6:12:17 PM PDT by Round Earther
The billionaire founder of the outdoor fashion retailer Patagonia says he has given away his company to a charitable trust.
Yvon Chouinard said that under a new ownership structure, any profit not reinvested in running the business would go to fighting climate change.
This will amount to around $100bn ($86bn) a year, he claimed, depending on the health of the company.
Patagonia sells hiking and other outdoor clothing in over 10 countries.
Founded in 1973, its estimated revenue was $1.5bn this year, while Mr Chouinard's net worth is thought to be $1,2bn.
(Excerpt) Read more at bbc.com ...
Tax motivated, not charitable.
He’ll send money to Bill Gates Foundation. Bill Gates Foundation will send money to him and neither will pay taxes.
what a cuck
“Tax motivated, not charitable.”
There is nothing wrong with that.
A virtue signalling cuck, no less.
Nice jackets. Bought one. Too nice to wear.
I’m gonna fight climate change via FR. Send a bunch of money to the freepathon.
This does not add up. You cannot have $86bn in profits on $1.5bn in revenue.
You mean like Ted Turner “donating” most of his stock? He actually saved more in taxes than he lost in “value”. Most of these “big hearted” liberals won’t do things like this unless they profit from it.
Idiot.
“This will amount to around $100bn ($86bn) a year, “
Why two figures? Is one supposed to be Pound Sterling?
How can profit be $100bn when revenue is $1.5bn.
One place says his net worth is $1.2bn, another $120bn.
I dislike Patagonia so much.
Cant take it with you.
Yeah, I thinking that should have been millions, not billions.
I was criticizing the cause he was donating to — climate change. That’s why he’s an idiot.
You can’t take it with you for sure. That’s why we have generous donations to Christian and conservative organizations in our wills.
Exactly.
Have never and will never buy stuff from climate morons like this guy.
Yvon Chouinard is a winner at rock climbing and a loser at life. His Climbing Ice book from 1978 is the solid guide for climbers. However, his stores have communist books that are anti-capitalist and has customer service representatives that are flaming weirdos. He needs to learn to not bite the hand that feeds. America has been very, very good to him and he is unhappy like Barry Bonds, Lance Armstrong, Tina Fey, etc.
Gotcha,and yeah dumb cause
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