Fox panel downplays climate motivation of Patagonia founder who gave his company to fight climate change
Published
Citation From the September 16, 2022, edition of Fox News' America's Newsroom
SANDRA SMITH (FOX NEWS CO-ANCHOR): Meanwhile, on to Patagonia because there's a lot of headlines praising this move by the founder of Patagonia. He's had a very successful run, made a lot of money, very big company. The LA Times pointing at this, Patagonia made him a billionaire. Now he's giving it away to save the climate. CNBC says why Patagonia's billionaire founder gave away his $3 billion company to fight climate change. Earth is now our only shareholder. Dazed Digital asked: "The real king? Patagonia owner gives away company to fight climate crisis."
Many are wondering what's really going on here, Kat
KAT TIMPF (FOX NEWS CONTRIBUTOR): When you see a headline like this, you know that there's always something more. He's going to be able to avoid paying a lot of taxes by doing it this way, he's still going to be able to have huge influence over U.S. politics by doing this way, control of the company by doing it this way. Nobody ever just gives away all their money for no reason.
BILL HEMMER (FOX NEWS CO-ANCHOR): He found a – he found the loophole.
TIMPF: That's exactly right. That's exactly right.
HEMMER: He's saving his family close to a billion dollars over time –seven hundred million at minimum.
TIMPF: Yes. And people aren't digging deeper on this. So many of the headlines are just saying, look at this wonderful man who loves the earth so much, he's going to be poor now. That's what's going on.