In a rare example of corporate philanthropy, billionaire Yvon Chouinard – owner of outdoor clothing brand Patagonia – recently announced he was giving away his entire company to fight climate change, pumping all of the company’s profits into saving the planet.
“Instead of ‘going public’, you could say we’re ‘going purpose’,” Chouinard said.
“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.”
This generosity toward the greater good
