There's a worrying detail in Yvon Chouinard's recent sale of outdoor retail giant Patagonia. Share this: TweetPrintEmailWhatsAppBy Mitchell Beer | The Energy MixIn making planet Earth Patagonia’s “only shareholder,” founder Yvon Chouinard has exchanged considerable personal fortune for substantial political power—an outcome that is good for environment, but could be detrimental for democracy, say experts of philanthropy and tax law. “The new organization’s 501(c)(4) designation holds fewer restrictions on political activity and advocacy spending,” Rojc writes. The Holdfast Collective appears to be yet another stage in an “escalating zero-sum political arms race,” Nisbet told Grist, likening the Collective to the National Rifle Association. “Although Chouinard gave away his fortune in an irrevocable way, he didn’t necessarily give up his power,” he says.

Source: The Guardian September 24, 2022 13:22 UTC