Patagonia’s Billionaire Founder To Give Away The Millions His Company Saved From Trump’s Tax Cuts To Save The Planet – Angel Au-Yeung
Yvon Chouinard, billionaire founder of outdoor apparel firm Patagonia, has traditionally shied away from politics. But things have changed for the rock-climbing, fly-fishing outdoorsman since Donald Trump moved into the Oval Office. On Wednesday, Patagonia announced it has an additional $10 million in profits on its books for 2018 as a result of Trump’s “irresponsible tax cut” last year, which lowered the corporate tax rate from 35% to 21%. 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.
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