October 6, 2022

This businessman has donated his entire business to save the environment, giving away his wealth of around 24 thousand crore rupees

Yvonne Chouinard, the founder of US clothing company Patagonia, is donating his entire business to the fight against climate change. He started this business almost 50 years ago, which he is going to donate all of it.

Yvonne Chouinard, the founder of US clothing company Patagonia, is donating his entire business to the fight against climate change.

Yvonne Chouinard, the founder of US clothing company Patagonia, is donating his entire business to the fight against climate change. He started this business almost 50 years ago, which he is going to donate all of it. All corporate revenues will be donated to programs and groups working to combat climate change, protect biodiversity and wildlife.

Wives and children also contributed their share

Along with Chouinard, his wife and two grown children are also donating their entire stake in the clothing company to the cause. According to the New York Times, the company is valued at about $3 billion. Chouinard wrote a letter explaining his decision, in which he said that the world was now our sole shareholder. The letter was posted on the Patagonia company website on Wednesday.

Explaining climate change, he writes that if we have any hope of improving the world, all the resources we have will be useful. He said, we can do it. He said, we are trying our best to deal with the environmental crisis, but it is not enough. We need to find ways to invest more money to deal with the crisis while protecting the company’s values. He said one option was to sell Patagonia and donate all the money. But we were not sure whether the new owner would maintain our values ​​or secure the jobs of our team people around the world, he added in the note.

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In the note the founder of the company also wrote that another option was to take the company public. What a disaster it could have been, he said. Even well-intentioned public companies are under intense pressure to make short-term profits, he said. They have long-term responsibilities. He further said, truth be told, there is no better alternative. So, we made our own choice.

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