Finally, a billionaire willing to smack back at capitalism

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from The Washington Post,

There’s rarely a good reason to cheer for a billionaire. But for Yvon Chouinard, it might be worth suspending that rule.

Chouinard, founder of the outdoor apparel brand Patagonia — valued at $3 billion — has given his company away for the cause of protecting the Earth.

According to a remarkable statement released by Chouinard on Wednesday, titled “Earth is now our only shareholder,” 100 percent of Patagonia’s voting stock will be transferred to a trust created to protect the company’s values, and 100 percent of its nonvoting stock has gone to a nonprofit organization dedicated to combating climate change and protecting undeveloped land around the world.

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