that's expected to be roughly $100 million a year. 83-year-old yvon chouinard, who started patagonia roughly a half century ago said, "we are making earth our only shareholder." >> trevor: wow! the founder of patagonia decided being a billionaire was too much for any one person, so he's decided to give all the money away. ( cheers and applause ). which, which, when you think. it, is actually the most balling move of all time. who is more of a baller, the person who has a billion dollars or the person who literally using their billion dollars to make it rain. that's what they're doing. the earth is going through a drought. he saw what was happening in california. who would have thought a billionary would give away. if if i'm earth, yeah, pollution is killing me. where is your private jet, pluto? are you a planet anymore? damn, bitch. i will say it will be awkward for yvon chouinard's kids when they try to explain why they didn't inherit their dad's billions. "so did your father give you the money?" "no, he gave it to a polar bear." if we had more time we could talk about the how the f

" says that the founder of outdoor apparel maker patagonia gave the company away. 83-year-old yvon chouinardamily transferred their ownership valued at about $3 billion to two new entities that will help fight charge. -- fight climate change. they will also work to protect undeveloped land around the world. patagonia will continue to operate as a private company, but its $100 million in annual profits will go to environmental causes. >>> still to come, classic fun. we're going to show you some of this year's finalists for the toy hall of fame and how you can vote for your favorite. it takes energy to take on the world.■ so whether you■re breaking a sweat, breaking down barriers, or breaking the laws of gravity, keep moving with the ultimate energy bar. we bake in delicious, wholesome ingredients, purposefully crafted with a blend of protein,■fat and carbs. because the more good you put in, the more great you get out. clif. baked in goodness. now introducing clif thins. a crispy, craveable 100-calorie snack. ♪♪ giorgio, look. the peanut butter box is here. ralph, that's the chewy pharmacy box

yvon chouinard said any profit not reinvested in running the business would go to fighting climate changedustry leaders in silicon valley. 0ur north america technology reporterjames clayton has more. patagonia sells all sorts of outdoor equipment but it is this, the patagonia vest, that has become iconic here in silicon valley. it's the uniform of the "tech bro." jeff bezos, apple's tim cook, just some of the names sporting patagonia style vests. patagonia has replaced the suit and tie here. part of the reason for the company's success came from its eye—catching position on the environment. it's even taken out ads saying not to needlessly buy their products. their clothes are supposed to be for life. so, there is a particular model of capitalism called shareholder capitalism and it says the only purpose of companies is to maximise shareholder value. we don't agree with that. the company's founder, a mountain climber at heart, is a passionate environmentalist. everything we do as a company is to be more responsible and it turns out to be good for the business. he's now given the company, l

yvon chouinard founded the company. it is given to a climate trust and nonprofit organizations.ed in the business will go towards fighting climate change. he figures that amounts to about $100 million a year depending how good of a business. he says instead of going public, you could say we're going purpose. >>> ahead, vice president kamala harris looking to raise her profile. that's on "new day." and a 5g phone, on us. at verizon small business days from t the network america relis on. ♪ meta portal go. look professional. ♪ even if you don't feel it. meta portal. the smart video calling device... - right on time! - of course. that makes work from home work for you. so, shall we get started? ♪ my name is austin james. as a musician living with diabetes, fingersticks can be a real challenge. that's why i use the freestyle libre 2 system. with a painless, one-second scan i know my glucose numbers without fingersticks. now i'm managing my diabetes better and i've lowered my a1c from 8.2 to 6.7. take the mystery out of managing your diabetes and lower your a1c. now you know. try it

alright, patagonia founder yvon chouinard is giving away his company to fight climate change and histransferred ownership of the roughly 3 billion dollar company to a special trust and nonprofit with all further profits used to fight climate change to protect undeveloped land around the world. patagonia will continue to operate as a private for-profit corporation. but the family will no longer own it. it's estimated patagonia sells more than a billion dollars worth of clothing every year. that rocked the for but we're going to be talking about that kept ringing the doorbell. yeah. grant and vicki are here to tell us about what's coming up next on kron. 4 news at 9, right? they gotten around that. so they do. cats a all right. here's what's next. talking about these a brightly colored >> all over the place. they're actually drugs called a rainbow fentanyl and they're obviously addictive and can be deadly. a warning tonight from experts. >> after they were recently pounds. they being bought and sold right here in the bay area. scary stuff. plus the ntsb releasing its preliminary invest

yvon chouinard said any profit not reinvested in the running of the business would go to fight climate scotland and northern ireland. the uk meteor network said it began getting reports of the fireball last night. scientists are using video footage filmed by the public to work out whether the object travelling across the night sky was a meteor or spacejunk and where it came from. it is not yet known if it landed or burnt up in the atmosphere. back now to our main story. the death of her majesty the queen. the prince and princess of wales have been in sandringham in norfolk today to see the tributes left there for the queen. the royal residence was packed with family memories for her majesty — and it gave her the chance to indulge her love of simple pleasures like walking the dogs, or taking tea with the women's institute. jo black went to find out more. while much of the focus has been in scotland and london, here in norfolk, on the sandringham estate, is a growing blanket of flowers — a declaration of people's affection, admiration and appreciation for the late monarch. "where is the

mr yvon chouinard said any profit not reinvested in running the business would go to fighting climatethe sky over scotland and northern ireland. scientists are using video footage filmed by the public to work out whether the object travelling across the night sky was a meteor or space junk, and where it came from. it is not yet known if it landed or burnt up in the atmosphere. mourners have worn pink at the funeral of nine—year—old 0livia pratt—korbel who was shot and killed in liverpool last month. she died after a gunman chased into her home. 0livia pratt—korbel�*s coffin was brought yards from where the little girl used to play. her community came together to say goodbye. cheryl korbel still nursing the wrist injury she suffered. somehow she found the strength to give the eulogy. she will never be forgotten. and i will never say goodbye. but what i will say is good night, love you, see you in the morning. 0livia's school displayed its own tributes to the nine—year—old. so the wishes of the family in church were that everyone wore a splash of pink, so today in school, the children a

yvon chouinard is turning the company over to a trust and a nonprofit redirecting the company's annual profits towards environmental causes and then open letter. sheehan ard said, quote, instead of extracting value from nature and transforming it into well, for investors, we use the wealth. patagonia creates to protect the source of all wealth, adding earth. he's now our only shareholder. >> governor gavin newsom says help is on the way for californians experiencing homelessness and mental health as well as substance abuse disorders. the governor signing care courts legislation into law today which will allow for court ordered care for those individuals. relatives and friends of people who are struggling with mental health care, homelessness will be allowed to submit a petition to the court explaining why their loved ones qualify for mandated treatment while opponents of the legislation call it involuntary treatment. supporters say they believe that it will help make a positive difference. >> it's not about a tear second disc high. what we go through and that tends to feel hopeless. we

patty goni, a founder yvon chouinard is giving away his company to fight climate change.and his family transferred ownership of the roughly 3 billion dollar company to a special trust and nonprofit with all further profits used to fight climate change and protect undeveloped land around the world. patagonia will continue to operate as a private for-profit corp corporation. but the shooter, our family, will no longer own it. it's estimated patagonia sells more than 1 billion dollars worth of clothing every year. and while masking and social distancing restrictions slowly come to a close, some health experts warn about a poteitially bad flu season raising concerns also about the possibility of a new covid variants as we approach the colder months. >> what makes them were problem problematic and this year is the lack of immunity and the human population because there has been a lot of flu circulating last 2 years between those 2 this couple. call the twindemic of these 2. if that our health care system is really going to be stressed. >> and doctors say there are ways to avoi

billionaire yvon chouinard and family members transferred their ownership to a special trust and non-profitization, whose profits will be funneled to global conservation. still to come on the "newshour," the many investigations surrounding former president trump intensify. a new report details the devastating economic impact of rising sea levels for property owners. an iowa teen who admitted to killing her rapist is ordered to pay $150,000 to the man's family. and much more. >> this is the "pbs newshour" from weta studios in washington and in the west from the walter cronkite school of journalism at arizona state university. amna: the ukrainian counteroffensive continues today at great pace across eastern and southern ukraine. president zelenskyy and top members of his war council visited troops and the traumatized civilians liberated from russian rule. it's a time of relief for most, tempered by great sadness. and nick schifrin was there, reporting tonight from balakliya in the northeast of ukraine. and a warning, some images and accounts in this story are graphic. nick: in liberated izium

yvon chouinard founded patagonia nearly 50 years ago. the company is valued at about $3 billion.in an interview with "the new york times," he said -- "instead of extracting value from nature and transforming it into wealth for investors, we'll use the wealth patagonia creates to protect the source of all wealth." the world health organization has given its most upbeat assessment on covid-19 since declaring the disease an international emergency in january of 2020. who director-general tedros adhanom ghebreyesus said wednesday the number of newly rerted infecons has dropped dramatically. >> the number of weekly reported deaths from covid-19 was the lowest since march 2020. we have never been in a better position to end the pandemic. we are not there yet but the end is in sight. amy: this week the number of global confirmed covid-19 deaths topped 6.5 million. but the who reports the mber of excess deaths during the first two years of the pandemic totaled nearly 15 million. a federal judge has rejected a request by the justice department to resume its investigation into documents se

but this morning, patagonia's founder yvon chouinard making a landmark decision to give away all thepany's profits, estimated at $100 million a year to help mother earth. >> a lot of people don't understand how serious we are about saving the planet. i'm dead serious. >> reporter: deciding to transfer ownership to a trust in a nonprofit organization dedicated to combating climate change and protecting undeveloped land all around the world. >> the job of the nonprofits is to invest this money into environmental friendly initiatives and political candidates. >> reporter: also saying earth is now our only shareholder. >> even those we call generous, think of big philanthropists, they don't give away a huge fraction of their wealth. this is very different. this is much more dramatic than we usually see in philanthropy. >> reporter: the 83-year-old founder saying what patagonia has been doing, donating 1% of their earnings to climate change efforts wasn't enough and we needed to find a way to put more money into fighting the crisis while keeping the company's values intact and he could ha

in is so interesting patagonia founder yvon cho chouinard, donating all the voting stock into a new trustat trust will make sure patagonia sticks to its values as a socially responsible company. then all of the nonvoting stock, that's about 98% of the total stock, that's going to be donated to a new nonprofit called the hold fast collective. hold fast will receive all the company's profits and direct them to, quote, fight the environmental crisis patagonia itself is going to remain a private for-profit company valued at around $3 billion. revenues of about $1 billion a year profits of about $100 million a year ryan gelhart will remain the ceo and. the voting shares are going to be taxed since they're going into a trust the nonvoting donation may be eligible for a tax break -- actually, should not be eligible for a tax break since they're going into a 501 c 4 that can made unlimited political contribution you don't get that charitable deduction, therefore, it's not deductible fascinating, guy, chouinard, fascinating life, and what a way to end his role and his family's role in the company.

yvon chouinard said any profit not reinvested in the running of the business would go to fight climateople on the brink of starvation in africa and two thirds of pakistan underwater, and 27% of the world's population who have personal experience severe weather conditions in the last five years. so this is really a wake—up call for other business leaders to take bold action, to really look at systemic and rapid change, because anything elsejust and rapid change, because anything else just isn't good enough. decarbonisation by 2050 is not enough, so really excited to see this gift of support. and we mustn't forget that there are huge business interests, vested business interests, vested business interests, but have quietened down and not allowed for the kind of campaigning activism, and the kinds of deep conversation that need to be had both about the climate and ecological and social emergency but also about democracy, so this gift of £80 million a year or more will really help that process, and i hope that other business leaders will follow rather than just keeping their yachts in mona

yvon chouinard said that any profit not reinvested in running the business would go to fighting climate good for the business. he's now given the company, lock, stock and barrel, to a charitable trust aiming to protect the environment. in a statement, he said: the patagonia items are expensive. this top costs £90. critics argue that it's easy to be against fast fashion when you can charge so much. the cost of doing it right, meaning that you pay attention to the whole footprint, that's how much water is used, whether dangerous dyes or chemistries are used and reducing the carbon is a little bit more expensive, but when you actually factor that in over the whole lifetime of a garment, it isn't more expensive. california, home to patagonia's global headquarters in recent years, has faced particular threats from climate change. some of the state's biggest ever wildfires have taken place in the last few years and drought is an ever—present problem. patagonia thinks there's a way for capitalism and environmentalism to exist equitably. the company now says it wants to focus on climate change