Quartz
Quartz (qz.com) is a global digital-only business news publication. It is owned by Atlantic Media Co., the publisher of The Atlantic, National Journal, and Government Executive. Its team of 150 staff members was pulled together from prominent brands in business journalism: Bloomberg, The Wall Street Journal, The Economist, and The New York Times." The four initial sponsors of Quartz were Boeing, Chevron, Cadillac, and Credit Suisse. Quartz's core market is global business people, with its focus on international markets. Its news articles cover global economy news, ranging from geo-political conflicts to policies and regulations.
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Ben Gabbe/Getty Images for Tribeca X
Yvon Chouinard, who started Patagonia in 1973 and turned it into an iconic $3 billion outdoor apparel empire, just gave away almost all of the private stock in the family-owned company to a nonprofit that will use the proceeds to fight climate change.
It’s a masterful bit of corporate maneuvering that will allow his family to effectively maintain control of Patagonia, direct billions toward climate advocacy—and almost entirely avoid taxes in the process.
Most of Patagonia’s shares—98%—are going to a nonprofit, meaning that Chouinard will not have to pay taxes on that gift.