Heavy clickbait to generate outrage. The Chouinards are the only ones who actually acted in any real meaningful way towards the Giving Pledge. A better article

Heavy clickbait to generate outrage. The Chouinards are the only ones who actually acted in any real meaningful way towards the Giving Pledge. A better article that is more about the facts: https://www-nytimes-com.cdn.ampproject.org/c/s/www.nytimes.com/2022/09/14/climate/patagonia-climate-philanthropy-chouinard.amp.html https://www-nytimes-com.cdn.ampproject.org/c/s/www.nytimes.c... [..]The Chouinards then donated the other 98 percent of Patagonia, its common shares, to a newly established nonprofit organization called the Holdfast Collective, which will now be the recipient of all the company’s profits and use the funds to combat climate change. Because the Holdfast Collective is a 501(c)(4), which allows it to make unlimited political contributions, the family received no tax benefit for its donation. [..] “There was a meaningful cost to them doing it, but it was a cost they were willing to bear to ensure that this company stays true to their principles,” said Dan Mosley, a partner at BDT & Co., a merchant bank that works with ultrawealthy individuals including Warren Buffett, and who helped Patagonia design the new structure. “And they didn’t get a charitable deduction for it. There is no tax benefit here whatsoever.” [..] “This family is a way outlier when you consider that most billionaires give only a tiny fraction of their net worth away every year,” said David Callahan, founder of the website Inside Philanthropy. “Even those who have signed the Giving Pledge don’t give away that much, and tend to get richer every year,” Mr. Callahan added, referring to the commitment by hundreds of billionaires to give away the bulk of their fortunes.[..]