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Billionaire boss gives his company away

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The founder of Patagonia has passed his company away to a charitable trust

Yvon Chouinard is the billionaire behind the Patagonia outdoor clothing brand, who will not reinvest any profits in the business moving forward.

Instead, Mr Chouinard will pass the funds onto the fight against climate change.

It’s believed this will be around $100 billion a year.

Patagonia sells hiking and other outdoor clothing in over 10 countries.

“Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source,” he said.

The company was founded 1973 and is estimated to bring in $1.5 billion this year.

However, Mr Chouinard’s wealth is understood to be around $1.2 billion.

“Despite its immensity, the Earth’s resources are not infinite, and it’s clear we’ve exceeded its limits,” he said.

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Rolls Royce CEO slams aviation for failing on climate targets

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Aviation needs to act on net-zero targets, that’s according to the CEO of Rolls Royce

Warren East says the sector needs to move towards bio-fuels like hydrogen and electric aircraft.

Travellers can even look forward to flying on planes that has a gas turbine that’s burning hydrogen.

Speaking at a conference in London, East says transitional technology is the answer that plane-makers are searching for.

Some companies are already looking at sustainable fuels that can offer 80 per cent off carbon emissions across their lifetime.

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Amazon halts hiring on all corporate roles

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E-commerce giant is the latest of many to close all corporate job openings due to economic concern

Amazon is pressing pause on corporate hiring for the rest of the year, as economic concerns continue to grow.

The tech giant has instructed all recruiters to close all current corporate job openings… worldwide.

This means more that ten thousand openings will be closed as of Monday evening.

The job postings that will affected include technology positions, in store and online retail businesses, and logistics operations.

However, Amazon spokesman, Brad Glasser, says the company will still continue to have a significant number of other roles open.

He says, “we have many different businesses at various stages of evolution, and we expect to keep adjusting our hiring strategies in each of these businesses at various junctures.”

The freeze sees Amazon joining Meta, Apple, and Google, who have also announced a reduction or temporary pause on hiring.

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What is Elon Musk’s “everything app”?

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elon musk twitter

Elon Musk’s Twitter deal is back on, and he says it’s the key to creating his much-anticipated ‘everything app’.

The billionaire entrepreneur had been in talks to take the social media platform private, but the deal fell through. However, after news of its reinstatement, Mr Musk said that buying Twitter is an essential part of his plans for X.

The idea behind X is a sort of super app, combining messaging, social media, payments-and lack of reliance on ad revenue, similar to the Chinese WeChat. That already has more than one billion users, but so far no equivalent exists in the West.

With Twitter under his belt, Musk believes he can make X a reality much sooner than originally planned. “It’s brought forward our X project by three to five years, but I could be wrong,” he said.

There are no further details on the X project at this time, but with Musk’s track record of visionary innovation, it’s sure to be something we’re all talking about in the near future.

Why does Elon Musk want to buy Twitter?

Elon Musk is known for his ambitious plans and big ideas, so it’s no surprise that he sees Twitter as a key piece of the puzzle for his next project, X.

The details of the deal have not been made public, but it is thought that Musk is paying a premium for Twitter.

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