Patagonia founder just donated the entire company, worth $3 billion, to fight climate change
-
Patagonia founder Yvon Chouinard, his spouse and two adult children are giving away their ownership in the apparel maker he started some 50 years ago.
-
The company’s non-voting stock, worth close to $3 billion, will be owned by a collective that will use all profits that aren’t reinvested into the business to fight climate change.
-
The company expects to contribute about $100 million a year, depending on the health of the business.
Patagonia founder Yvon Chouinard, his spouse and two adult children are giving away their ownership in the apparel maker he started some 50 years ago, dedicating all profits from the company to projects and organizations that will protect wild land and biodiversity and fight the climate crisis.
The company is worth about $3 billion, according to the New York Times.