Former Billionaire Donates His Company to a Non-profit
beat-up: in poor condition or worn out, usually referring to an object
Patagonia sells over a billion dollars worth of outdoor clothing each year and is valued at 3 billion dollars. It was started by 83-year-old former billionaire Yvon Chouinard. He left the billionaire club when he donated all the stock of his company to a nonprofit. The company will still do business as usual, but the profits will be used to fight climate change and protect natural areas worldwide.
Although Chouinard is no longer a billionaire, it sounds as though it won’t have a big effect on his lifestyle. According to an article in the New York Times, “he wears raggedy old clothes, drives a beat-up Subaru and splits his time between modest homes in Ventura and Jackson, Wyo. Mr. Chouinard does not own a computer or a cellphone.”
Sample sentences
1. The old, beat-up sofa in the corner of the room needs to be replaced.
2. Despite its beat-up appearance, the bicycle is still functional.
3. She wore a beat-up pair of sneakers that had holes in them.
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Billionaire No More: Patagonia Founder Gives Away the Company