“Hopefully this will influence a new form of capitalism that doesn’t end up with a few rich people and a bunch of poor people,” said Yvon Chouinard. “We are going to give away the maximum amount of money to people who are actively working on saving this planet.”
By Jessica Corbett Published 9-14-2022 by Common Dreams
“We needed to find a way to put more money into fighting the crisis while keeping the company’s values intact,” Patagonia founder Yvon Chouinard wrote in a letter explaining his family’s ownership decision. (Photo: Patagonia/Facebook)
Patagonia founder and “reluctant billionaire” Yvon Chouinard just raised the bar for corporate action on the fossil fuel-driven planetary emergency.
The 83-year-old, his wife Malinda, and their adult children, Fletcher and Claire, gave away the company, valued at about $3 billion. The rock climber-turned-businessman explained the decision in an interview published Wednesday by The New York Times, along with a letter on the outdoor clothing retailer’s website. Continue reading
