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“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 Patagonia founder Yvon Chouinard.
By Jessica Corbett
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.
“While we’re doing our best to address the environmental crisis, it’s not enough. We needed to find a way to put more money into fighting the crisis while keeping the company’s values intact,” Chouinard wrote.
