DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Yvon"


7 mentions found


☆ Patagonia founder's big donation potentially saves him over $1 billion in taxes — and experts say it shows how the wealthy are able to 'entirely opt out of taxes'
  + stars: | 2022-09-16 | by ( Juliana Kaplan | Grace Kay | ) www.businessinsider.com   time to read: +9 min
The donations could save the Patagonia founder's family over $1 billion in taxes, experts calculated. "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." It also might give Chouinard and his family a big tax break, experts who monitor such big transactions told Insider. A Patagonia spokesperson told Insider the Chouinard family did not ask to create a company structure to avoid taxes. Russell James, director of graduate studies in personal financial planning at Texas Tech University, said that the ultra-wealthy generally "can't even use charitable income tax deductions."
☆ Patagonia lobs ESG breakup calls back to the wild
  + stars: | 2022-09-16 | by ( Antony Currie | ) www.reuters.com   time to read: +4 min
CONTEXT NEWSYvon Chouinard has ceded control of outdoor clothing brand Patagonia, the founder disclosed in a letter on Sept. 14. As a result, all company profit will go to a non-profit entity which will spend it to fight climate change. As part of the deal, Chouinard and his family have transferred all stock with voting rights to the Patagonia Purpose Trust. Overseen by family members and their advisers, according to the New York Times, the trust will be responsible for approving key decisions like choosing the board of directors. Patagonia has annual revenue in excess of $1 billion and profit of some $100 million, the New York Times reported on Sept. 14.
☆ Patagonia's charitable change will inspire founders. We spoke to 8 VCs about how startups can create their own climate change legacy.
  + stars: | 2022-09-16 | by ( Hasan Chowdhury | Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com   time to read: +5 min
Patagonia's Yvon Chouinard said he was giving away his $3 billion company to fight climate change. Insider spoke to 8 VCs about how hard it is for founders to follow suit and what they can do instead. "Instead of 'going public', you could say we're 'going purpose'," Chouinard wrote. Insider spoke to eight investors to find out why venture capital-backed startups would struggle to replicate Patagonia's model and what they could do instead. This means founders need to be active at an early stage in deciding what to do with their business.
☆ Patagonia's owner, who is giving the retailer away to a nonprofit, once lived in his car and still doesn't own a cellphone
  + stars: | 2022-09-15 | by ( Grace Dean | ) www.businessinsider.com   time to read: +3 min
Patagonia's owner doesn't own a cellphone or computer, The New York Times reported. Yvon Chouinard lived out of his car and ate cat food as a professional rock climber in the 1960s. The 83-year-old is giving away Patagonia, worth about $3 billion, to a trust and nonprofit. He used to live out of his car and eat damaged cans of cat food that cost $0.05 each, the newspaper reported. Patagonia has annual sales of more than $1 billion, with profits of about $100 million, The Times reported.
☆ Why Patagonia's billionaire founder gave away his $3 billion company to fight climate change: 'Earth is now our only shareholder'
  + stars: | 2022-09-15 | by ( Annika Kim Constantino | ) www.cnbc.com   time to read: +4 min
The founder of outdoor apparel maker Patagonia is donating his company to a greater cause: fighting climate change. Yvon Chouinard, the rock climber-turned-billionaire, and his family have transferred their ownership of Patagonia to the newly created Patagonia Purpose Trust and nonprofit Holdfast Collective. The company, which Chouinard founded in 1973, is worth $3 billion, according to the New York Times. "The Patagonia Purpose Trust ... exists to create a more permanent legal structure to enshrine Patagonia's purpose and values," the announcement reads. "Despite its immensity, the Earth's resources are not infinite, and it's clear we've exceeded its limits," Chouinard wrote on Wednesday.
☆ Patagonia's CEO gets candid: How sustainability, diversity, and social justice guide the beloved brand
  + stars: | 2022-09-15 | by ( Rebecca Knight | ) www.businessinsider.com   time to read: +12 min
As CEO of Patagonia, Ryan Gellert wrestles with a paradox: The outdoor-gear maker's good works, philanthropy, and intentions are still not enough to justify its existence. To Gellert, who took over from the widely respected Rose Marcario, the company could always be doing more. And we need business to step up. Patagonia really struggled in Europe, and that never made sense to me. One of the things that I love more than anything about Patagonia is that we are an unapologetically for-profit business.
☆ Patagonia founder gives away company, ensuring profits go to fight climate change
  + stars: | 2022-09-14 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. He Can Be Reached At Evan.Bush Nbcuni.Com. | ) www.nbcnews.com   time to read: +3 min
The founder of the outdoor brand Patagonia has relinquished his ownership in the business and directed its profits to fight climate change. "Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source. The company expects to contribute roughly $100 million to the Holdfast Collective through an annual dividend depending on the businesses' success. The Patagonia brand, Hayes noted, charges a premium, in part, because of the values it represents. Hayes said businesses in manufacturing or extractive industries in a capitalist economy that requires growth ultimately run into conflicts with environmental and climate values.
<< prev 1 next >>
Total: 7