would u give it to ur family to escape $700 Million in taxes?

Black people hold generational wealth in a different regard because in America we don't have it and have never been allowed it.

Fair.

Does that apply 2 patagonia owner though

I'd have left this god foresaken country or hold the cash in a C Corp and file the taxes as business instead of personal

I knew there was an ulterior motive to this s*** but people automatically eat up a nice headline

I mean does it matter? If it still goes to foundations who care

He got to avoid a massive tax that wouldn't have helped anyone anyway and instead put the profits of a company into something directly affecting change.

Sounds like he found a better way to use his money

Ah yes it’s bad that he kept 350 million dollars from being Invested into the military and instead put it to a foundation

If he sold it to Nike or someone for $3b+ he could have made a more meaningful (and immediately useful) impact on climate change with the money than $100m a year

But people praise this man like he's making a selfless decision as a billionaire which is the point. All these billionaires do philanthropy work

Also if their profits go to climate change, wouldn’t it make sense for their business model to change to maximize profits given that all profit go to climate change? Seems like if you’re trying to make a meaningful impact that would make sense

Yeah that’s where I be coming from cause historically we’ve always been behind financially. A lot of us come from struggling homes and know what it’s like cause we been through it and most of the people around us been through it. Generational wealth in the black community can do so many great things to advance us. Cans truth be told I’m just tired of hearing about struggle stories when it come to us. I wanna see people that look like me take in some billi’s.

Funny way of looking at the rich avoiding taxes that we all gotta pay lol. We got niggas caping for billionaires on this site. What a joke

People are praising him because it's a good thing not all great decisions need to be selfless that's the mark of immaturity to think that way imo.

Those billionaires do it on the side he just took his entire company and dedicated it to one cause which is very different then doing philanthropy.

Yeah but it's not just maximizing profits Patagonia has always tried to not over expand necause end of the day clothing brands contribute massively to global waste so expanding would essentially be counterintuitive.

Better to stay the course and dedicate what's made to the cause because expand to far and you end polluting as much as you're helping

Nah bro people are making a big deal out of it because the narrative is that this man gave his company away out of the kindness of his heart. We both know that's not true so why are you arguing with me

We need more black billionaires for sure f*** what anyone on here says

If the world is run by people who have money like that we need more diverse representation. The Koch brothers and old white men will continue to make a huge impact in the way they see fit with the money and power they have. Only makes sense to have people there to offset it

I mean obviously within reason. You can maximize profits in ways that are still good for the environment and humane eg ending the unlimited forever return policy. I don’t think they should do that but if the goal is to help climate change, does that mission change?

he gave up the entirety of his wealth and like 10 generations of wealth bro

And those taxes don’t go to s*** in the US other than lining the pockets of corporations so who GAF

We pay taxes to help out the country but if the taces aren't being spent properly which they aren't in America I'd rather you do this and make it so it does directly to a cause.

Reality is taxes don't really help people they're mostly funneled into military budgets and given to states like Mississippi where they give it to rich people directly.

There we go

But he did if he wanted to just avoid the tax bill he couldve sold it to a company and made twice the money and still avoided the tax bill somehow.

If he wasn't doing this for a good reason it was easier ways to just get a bag and avoid the taxes

ok lmfao why should we give a f***

I think he did this because he hates his kids/grandkids

I wanna see people that look like me take in some billi’s.

We already have tho.

In hip hop no less! And all of them done been sell outs.

All skinfolk aint kinfolk. Shoutout to brother Fred Hampton.