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Patagonia’s billionaire founder to give away the millions his company saved from Trump’s tax cuts to save the planet ND
Angel Au-Yeung, Forbes, Thursday November 29 2018
Patagonia has announced it has an extra $10 million in profits due to to President Trump’s tax cuts last year, which lowered corporate tax in the US to 21% from 35%. Instead of investing the additional dollars back into its business, Patagonia said it would give $10 million to grassroot groups fighting climate change, including organizations that work in regenerative organic agriculture to help reverse global warming. “Our government continues to ignore the seriousness and causes of the climate crisis,” Patagonia founder Yvon Chouniard said in a statement. “It’s pure evil.” This isn’t the first time the company has taken a stand against President Trump’s policies, and it hasn’t hurt their business. “Any time that we do something good for the environment, we make more money,” Patagonia CEO Rose Marcario told students at UC Berkeley in April 2017.
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