Patagonia's tax break, explained
Last week, Patagonia's founder Yvon Chouinard rejected his billionaire status by giving up his company. But how he did that involves a complex entanglement of tax exemptions and designations.
At the heart of the story is the infamous 501(c)4. This type of nonprofit – a social welfare organization – gained notoriety in the past for being a conduit for dark money in politics. But that's not always what the designation is used for. Today on the show, we're dissecting the (tax) code on the company (and the man) with a mission to save Planet Earth.
Music by Drop Electric. Find us: Twitter / Facebook / Newsletter.
Subscribe to our show on Apple Podcasts, Spotify, PocketCasts and NPR One.
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.