❗️❗️unprecedented! 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. ***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. “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 said, “We are going to give away the maximum amount of money to people who are actively working on saving this planet.” Read the letter @patagonia When I was 20 I drove across the US from LA to NYC. I bought a fantastic jacket from Patagonia, then a relatively new company. I bought it at an REI store in Carson, CA... Fast forward, In 2007 I had the fortunate opportunity to release an album on the Brushfire Record label where I met some of the Patagonia folx and was given an opportunity to be part of 1% For The Planet. It felt great to contribute.. I also insisted that my jewel case were made from recycled plastic. It was a first for the Universal Music company. I used recycled paper and soy inks. To me it was a big thing. Again read Yvon’s letter >>>> @patagonia