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Money

Greenpeace loses $5.2m on gambling
June 17, 2024 07:01 GMT

Greenpeace loses $5.2m on gambling

$5.2 million is the amount of money Greenpeace lost due to one of its employees gambling on currency markets and failing to make the right predictions.

 

The employee, who was fired after the story came out, made a wrong prediction regarding a weakening of the euro currency which actually strenghtened.

 

Although the worker did not want the money for his own use, the company's image was, nonetheless, damaged, especially in the eyes of its supporters, who often donated money to the environamental activists.

 

'Every indication is, this was done with the best of intentions but not the best of judgment,' said a Greenpeace spokesperson.

 

The company relies on small donations of around $150 or less, which make up for 90% of its funding.