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Hey, friends, we just gave our company to planet Earth. OK, it’s more nuanced than that, but we’re closed today to celebrate this new plan to save our one and only home. We’ll be back online tomorrow.https://t.co/fvRFDgOzVZ
— Patagonia (@patagonia) September 14, 2022
🚨EXCLUSIVE: Yvon Chouinard, who founded the outdoor apparel maker Patagonia and became a reluctant billionaire with his unconventional spin on capitalism, has given away the company. All Patagonia’s profits will now be used to fight climate change.🧵https://t.co/22q91WK2Hz
— David Gelles (@dgelles) September 14, 2022
“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,” Yvon told me. “We are going to give away the maximum amount of money to people who are actively working on saving this planet.”https://t.co/22q91WK2Hz
— David Gelles (@dgelles) September 14, 2022
"Mr. Chouinard’s relinquishment of the family fortune is in keeping with his longstanding disregard for business norms, and his lifelong love for the environment." Now that's what I call putting your money where your mouth is. Huge props to him!https://t.co/LMR4S5Do8n
— Laurence Tribe (@tribelaw) September 14, 2022
パタゴニア創業者がパタゴニアを信託及びNPOに持分を移行した。
— Tetsuro Miyatake (@tmiyatake1) September 14, 2022
これはパタゴニアの環境に対するコミットを長期的に守るための動きで、非常に素晴らしいこと。
個人的にYvonさんがどう会社の長期的ビジョンを保つか気にしていたが、凄すぎる。https://t.co/RrU5lXfIYs
The world really can be different friends https://t.co/N16QUNOObA?
— Amanda Gorman (@TheAmandaGorman) September 14, 2022
ex rock climber Yvon Chouinard has given $3bn company away. Rather than selling or IPO'ing @Patagonia, he transferred ownership to a trust specially created to channel its $100m-a-year in profits into fighting climate change. @dgelles https://t.co/FIFCJt3qtZ
— Ian Fraser (@Ian_Fraser) September 14, 2022
In a move with no precedent in the business world, Chouinard, along with his family, have forfeited all their shares in Patagonia, a company valued at about $3 billion, renouncing their status as one of the wealthiest families in the US. https://t.co/22q91WK2Hz
— David Gelles (@dgelles) September 14, 2022
Note to the one percent: this is the best way to secure your legacy. This man just gave away a business worth $3 billion to help fight climate change. https://t.co/CGB8dGA5Yf
— Steven Donziger (@SDonziger) September 14, 2022
SCOOP: The billionaire founder of Patagonia has given away his $3 billion company to a trust and a non-profit that will work on climate action. Its unheard of in corporate circles, and the amazing @dgelles has the inside story: https://t.co/mz7BgCGlsd
— Lyndsey Layton (@LyndseyLayton) September 14, 2022
Details of the years-long process, interviews with the board, other executives and more in the exclusive inside story of how Yvon Chouinard decided to give away the store. https://t.co/22q91WJuS1
— David Gelles (@dgelles) September 14, 2022
The deck is so stacked in favor of billionaires hanging on to their money that it took DOZENS OF EXPERTS multiple years to figure out how to give Patagonia away without financially benefitting from the transaction. Warren Buffett had to get involved. https://t.co/z6wHGFFfpw
— Lon Harris (@Lons) September 14, 2022
Could not be more proud to serve on the board of directors of @patagonia. 💚 As of now, Earth is our only shareholder — ALL profits, in perpetuity, will go to our mission to “save our home planet.” https://t.co/SLTTTbao4y
— Dr. Ayana Elizabeth Johnson 🐙 (@ayanaeliza) September 14, 2022
NEWS
— Yashar Ali 🐘 (@yashar) September 14, 2022
The Chouinard family, owners of Patagonia, no longer have ownership of the company.
They have given away 100% of shares ($3 billion) to trusts and non-profits to combat climate change & protect undeveloped land.
They are getting no tax deduction.https://t.co/8rxJWYSi9K
The Founder of Patagonia just gave away his company!
— Pulte (@pulte) September 14, 2022
In many ways, this is what my grandpa did (albeit differently) by using the hard earned money we made in our business to fund a charity!
What a generous man!https://t.co/QVME8vXFLE
Yvon Chouinard is putting his billion dollars where his priorities are. Just another reason to love this company. https://t.co/WBnxdf4YqQ
— Barbara Malmet (@B52Malmet) September 14, 2022
Patagonia founder is giving away the entire company ($3B) by transferring it to a trust that is meant to ensure its profits go towards combatting the climate crisis 🙏🥲 https://t.co/7WdNgGwXdA
— The Detour Effect (@TheDetourEffect) September 14, 2022
This shit is CRAAAZY
— Prof (@Profgampo) September 14, 2022
I don’t care if I look like a yuppie I’m bout to be rockin ALL @patagonia https://t.co/K13XyNH4Do
Patagonia: ‘We’re making Earth our only shareholder’ 👏🏽🌎 https://t.co/CzKzFLSBki
— Diego Saez Gil (@dsaezgil) September 14, 2022
Patagonia has been so masterful at cultivating the image of the benevolent capitalist, that a story about tax avoidance schemes gets the title "We’re making Earth our only shareholder" here.https://t.co/KGaJlDtJ3m
— m (@mayavada) September 14, 2022
Patagonia reinvents itself again: ‘We’re making Earth our only shareholder’ https://t.co/ajkW8yjPob
— Linda Solomon Wood (@Linda_Solomon) September 14, 2022
Patagonia reinvents itself again: ‘We’re making Earth our only shareholder’ https://t.co/Md3b212NPq
— Dark Granny T (@_Granny_T) September 14, 2022
Patagonia has just formalised a structure to pour $bs profits into a trust, rather than go public.
— Sam Rye (@sam__rye) September 14, 2022
“The goal behind the Patagonia Purpose Trust is to create a permanent legal structure to enshrine the company’s purpose and values” https://t.co/rcBLizI5Sw
Wow!
— M-A.Stay’Legit ™️🇨🇦🇩🇪 (@BagdMilkSoWhat) September 14, 2022
Patagonia handed over to trusts & non-profits.
All profits earned from sales will go to fight climate change.
Yvon Chouinard gives up Patagonia ownership stake for climate https://t.co/8C6JhR476y
Patagonia founder Yvon Chouinard is giving away his company in a move intended to help combat climate change.
— Jim Roberts (@nycjim) September 14, 2022
“Earth is now our only shareholder."https://t.co/0gBJGoTe2O pic.twitter.com/TNlftYfOl9
Wow. “Patagonia founder gives away company: ‘Earth is our only shareholder’” https://t.co/BDWUjpC9XC
— Liza Donnelly (@lizadonnelly) September 14, 2022
Patagonia founder gives away company: ‘Earth is now our only shareholder’
— Laffy (@GottaLaff) September 14, 2022
"Ownership of the company, founded in 1973 & reportedly valued at about $3 billion, has been transferred to trust created to protect the firm’s values, as well as a nonprofit org"https://t.co/rpG7kta2WN
Patagonia founder gives away company: ‘Earth is now our only shareholder’ https://t.co/ORRx1wZSav
— Indira Lakshmanan (@Indira_L) September 14, 2022
"The decision, which was first reported by the New York Times..." Hey, @dgelles — is there anything sweeter? https://t.co/RVAqUmHelp
— John Schwartz (@jswatz) September 14, 2022
Wow! Incredible move by founder of @patagonia who gives the company (valued at $3 billion) to a trust based on the values of environmentalism.https://t.co/FwAqHQArio
— Cas Mudde (@CasMudde) September 14, 2022
This is simply incredible
— Ahmed Baba (@AhmedBaba_) September 14, 2022
Patagonia founder just donated the entire company, worth $3 billion, to fight climate changehttps://t.co/5rmgslZLz3
Patagonia founder just donated the entire company, worth $3 billion, to fight climate change https://t.co/cMhezEDJu1
— CNBC (@CNBC) September 14, 2022
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. https://t.co/ELEefGjuhK
— Show Me Your Mask 🐉 (@showmeyourmask) September 14, 2022
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. https://t.co/Mtfgu4RTll 파타고니아 창업자가 주식을 기후변화 저지를 위해 사용하겠다고 선언한 내용
— Economic View (@EconomicView) September 14, 2022
Thank you 👏👏👏👏👏https://t.co/CHIk8Zf5AZ
— Dwayne Walton (@23dwayne) September 14, 2022
Patagoniaの創業者 Yvon Chouinard氏、妻、子（成人）2人が、所有するPatagonia株すべてを気候変動対策を行うトラストとNGOに寄付したそう。今後は事業に再投資しない分の利益はすべて気候変動対策に使われるとのことで、年間1億ドルほどになる見込み。
— 今村咲 (@saki_imamura) September 14, 2022
わぁ…子供も？👏👏https://t.co/LxK8OHJbEB
It's hard to overstate how important Patagonia has been to grassroots environmental activism philanthropy over the past few decades. I'm so moved by Yvon & family continuing to boldly prioritize doing good over more wealth.https://t.co/bcp6mrm2ZK
— Patrick Donnelly (@bitterwaterblue) September 14, 2022
“I didn’t want to be a businessman. Now I could die tomorrow and the company is going to continue doing the right thing for the next 50 years, and I don’t have to be around.” GREAT story and scoop from @gelles https://t.co/63z9MwZMLt
— John Schwartz (@jswatz) September 14, 2022
世界で最も環境に配慮した企業活動を続けるパタゴニア創業者、 自社を売却ではなく、気候変動対策や環境保護を行なう非営利団体に譲渡。新しい資本主義の形になって、格差が小さくなればと。⇒ Billionaire No More: Patagonia Founder Gives Away the Company https://t.co/kHdDUoMhEC #環境正義
— 気候変動の向こう側 💉😷🇺🇦🏳️🌈 (@Beyond_Climate) September 14, 2022
“I don’t respect the stock market at all,” he said. “Once you’re public, you’ve lost control over the company, and you have to maximize profits for the shareholder, and then you become one of these irresponsible companies.” https://t.co/UNwQ31ZTZl
— Kevin Draper (@kevinmdraper) September 14, 2022
さすが #パタゴニア の創業者🌿アウトドアウェア大手の一族が保有する30億ドル相当の全持ち株を環境問題に取り込む新設のトラストとNPOに移管。経営の自立を担保しつつ、年間収益100億ドルを全額気候変動などの課題に充てると報道#PatagoniaPurposeTrust #パーパス経営https://t.co/ubGQaakZbH
— ロバート キャンベル (@rcampbelltokyo) September 14, 2022
Patagonia founder and his family have given the company away.
— Sawyer Merritt 📈🚀 (@SawyerMerritt) September 14, 2022
They transferred their ownership of the company, valued at about $3 billion, to a specially designed set of trusts and nonprofit organizations.
1/2https://t.co/iWeWSZgKEa
this is remarkable for a number of reasons, including this first ballot hall of fame quote https://t.co/b0qDGQdrpr pic.twitter.com/vrS8UI6j3O
— Wesley (@WesleyLowery) September 14, 2022
ねえ、みんな、私たちは会社を地球に譲りました。もちろんもっと複雑な話がありますが、今日は地球を救う新しい計画をお祝いするために直営店を休業しています。そして明日からは通常営業に戻ります。https://t.co/HjQmmvmZfT
— Patagoniajp (@PatagoniaJP) September 14, 2022
Patagonia founder, Yvon Chouinard, is giving away his billion dollar company. https://t.co/Diej3e6rcL
— Richard Bernabe (@bernabephoto) September 15, 2022
A man to respect and honor. Conducted his business the right way, all the way.
— SoCalledPresident (@MobBossTrump) September 15, 2022
Patagonia founder is giving away his billion dollar company and ensuring that all profits go towards fighting climate change https://t.co/7AipuH0RzD
This is pretty great.
— Cristóbal Alex (@CristobalJAlex) September 15, 2022
Patagonia founder is giving away his billion dollar company and ensuring that all profits go towards fighting climate change https://t.co/xJyH4dHAwc
“Instead of 'going public,' you could say we're 'going purpose.' Instead of extracting value from nature and transforming it into wealth for investors, we'll use the wealth Patagonia creates to protect the source of all wealth,". https://t.co/N9kN6TWlX1
— Greg Hershman (@GregHershman) September 15, 2022
『我々は地球を、唯一の株主にする』
— Go Ando / PREDUCTS / THE GUILD (@goando) September 15, 2022
アウトドアメーカーPatagoniaの創業者のイヴォン・シュイナードが、同社のオーナーシップをNPOと信託に譲渡する。
これはPatagoniaの自然保護・気候危機への取り組みを未来に永続化するための措置。
凄すぎて言葉を失う。https://t.co/21lHZSpd4L
Interesting model…
— ClimateMuseumUK (@ClimateMuseumUK) September 14, 2022
Yvon Chouinard gives up Patagonia ownership stake for climate
‘Instead of extracting value from nature and transforming it into wealth for investors, we’ll use the wealth Patagonia creates to protect the source of all wealth.” ‘ https://t.co/MQOE3pWs5J
Respect for Yvon Chouinard who stays true to himself until his last day: https://t.co/jjHR09wTnb
— Robin Dechant (hiring in engineering) (@robindchnt) September 15, 2022
The inspired latest from the reluctant businessman/billionaire who has changed what both words mean — @patagonia founder says the company isn’t “going public”, they’re “going purpose” - with one shareholder: planet earth. #thisisleadership https://t.co/E0XeSKrxA7
— Abby Falik (@abbyfalik) September 15, 2022
”Instead of ‘going public’, you could say we’re ‘going purpose’.”💪 https://t.co/9vHFHxPN8z
— Kirsi Piha (@kirsipiha) September 15, 2022
Patagoniaの創業者、イヴォン・シュイナードとそのご家族の発表に、興奮気味で朝のミーティングに参加している同僚に報告してしまった。所有する持株を全て気候変動への取組みへ譲渡。
— Kaori Kimura (@k1m_chan) September 15, 2022
「We're making Earth our only shareholder」っかっこよすぎる。 https://t.co/hIiCQNynS4
. @patagonia’s founder isn’t selling his company. He’s giving it away to fight climate change.
— Never taken the 5th or stolen classified materials (@MaggieJordanACN) September 14, 2022
“we are using the wealth Patagonia creates to protect the source. We’re making Earth our only shareholder. I am dead serious about saving this planet.” https://t.co/eCXdiT2hTC
Patagonia founder gives away company: ‘Earth is now our only shareholder’ https://t.co/C9oAawjYeu
— Svein Tveitdal (@tveitdal) September 15, 2022
Patagonia founder gives away company: ‘Earth is now our only shareholder’ 😲😲😲 https://t.co/iFe6eKZWju
— Kimberly (@KiKiPosting) September 15, 2022
Patagonia founder gives away company: ‘Earth is now our only shareholder’ https://t.co/868dc1kYmq
— Greg Miller (@gregpmiller) September 15, 2022
Patagonia founder gives away company: ‘Earth is now our only shareholder’ https://t.co/EgqwhEAh5j
— Richard E. Lenski (@RELenski) September 15, 2022
Patagonia founder gives away company: "Earth is now our only shareholder"https://t.co/w5EC5X3fyo
— Allyson Chiu (@_allysonchiu) September 14, 2022
Ownership of the company, founded in 1973 and reportedly valued at about $3 billion, has been transferred to a trust created to protect the firm’s values, as well as a nonprofit organization https://t.co/llGTxSDhZ1
— Linda Hill (@bulldoghill) September 15, 2022
Profoundly gutsy and virtuous move the founder of @Patagonia made today. With a little luck a few other billionaires will get the message and follow suit. Patagonia founder gives away company: ‘Earth is now our only shareholder’ https://t.co/jZRHPesV2g
— Wendell Wallach (@WendellWallach) September 15, 2022
パタゴニア凄すぎる。。。。
— Kosuke Mori 🇺🇸🇧🇷 (@kossmori) September 15, 2022
「地球だけがパタゴニアの株主」
企業としての成長への再投資以外の利益は全て環境保全の非営利団体へ配分(年間約140億円)
買う必要があるもの全てパタゴニアに変えようかと思える。https://t.co/ujzRbs0kpX
LOVE LOVE LOVE LOVE LOVE. Patagonia founder gives away company: ‘Earth is now our only shareholder’ https://t.co/opAtIZuCJu
— Sharon Heath (@TheFleurTrilogy) September 14, 2022
This man is a hero all billionaires should follow suit @patagonia. Patagonia founder gives away company: ‘Earth is now our only shareholder’ https://t.co/mN2b9PRTlT
— Sandra Bernhard (@SandraBernhard) September 14, 2022
Patagonia founder Yvon Chouinard gives away company
— Stephanie Hare (@hare_brain) September 15, 2022
Ownership of the company, founded in 1973 and reportedly valued at about $3 billion, has been transferred to a trust created to protect the firm’s values, as well as a nonprofit organization https://t.co/XP6Q1DNrVf
The ultimate outdoors man and reluctant billionaire gives everything back to the planet he adores. #Patagonia https://t.co/cycMjaBsSC pic.twitter.com/O7BYNWUITW
— Nomadpossum 🐟🇬🇷 🇦🇺 (@nomadpossum) September 15, 2022
Wow!
— #ClimateJustice #ClimateFinance #Resilience (@miketerungwa) September 15, 2022
Patagonia founder just donated the entire company, worth $3 billion, to fight climate change#ClimateAction #ClimateIncome#ClimateEmergency @gifsep4climate @Climate_INTL @CCL_Africa @msimire @GBulus @dheenylkhair @ConnectedCathy @joeibro https://t.co/aNUkSikmB5
"Earth is now our only shareholder."
— Be The Future (@bethefuturearth) September 15, 2022
As if we couldn't love @Patagonia any more?!
We need more Patagonia's in our world 🌍 (And less billionaires racing to space 👀)
Full story here 👉 https://t.co/zuFouoPv24#patagonia #climatechange #climateaction #bcorp #bcorps pic.twitter.com/ymUUUVbF8V
"Even public companies with good intentions are under too much pressure to create short-term gain at the expense of long-term vitality and responsibility.
— Eddie Verhamme (@EddieGreatLakes) September 15, 2022
Truth be told, there were no good options available. So, we created our own."https://t.co/KlQVUvV3Hf
I know where I'll be buying my hiking gear going forward.https://t.co/CAhoRR1Uvy
— Llewelyn Hughes (@LlewelynHughes) September 15, 2022
Putting wealth to meaningful use to combat #climatechange, kudos to the founder of #Patagonia!! https://t.co/Qx1mb7mCNu
— Alvin Foo (@alvinfoo) September 15, 2022
Patagonia founder just donated the entire company, worth $3 billion, to fight climate changehttps://t.co/2ylKc7AfZn
— Mighty Mouse (@MightyM55070329) September 15, 2022
“Earth is now our only shareholder.” Bravo, Chouinard family and @patagonia 👏🏽👏🏽👏🏽https://t.co/ur3dZtOGyB
— Lourdes Juan (@lourdesmjuan) September 15, 2022