Founder Yvon Chouinard said he will put 100% of the company’s voting stock into a trust.
that he would give away the multi-billion dollar outdoor clothing retail company to fight climate change.
Furthermore, 100% of the nonvoting stock was given to the Holdfast Collective, a non-profit advocacy group. Chouinard said the funding will come from Patagonia. He said every year, the money made after reinvesting in the business will be distributed as a dividend to help fight climate change. Rising sea levels to flood nearly 650,000 oceanfront properties across US by 2050, study finds
NEW YORK, NEW YORK - NOVEMBER 13: Yvon Chouinard speaks onstage during the Atlantic Salmon Federation New York Gala at the Plaza on November 13, 2019 in New York City.
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Patagonia Founder Gives Away $3 Billion Company To Fight Climate Change“Earth is now our only shareholder,” Yvon Chouinard wrote in an open letter.
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Patagonia Founder Is Giving His Company Away in Pledge to Fight Climate ChangeRather than sell the company or take it public, Yvon Chouinard said the outdoor clothing brand he founded nearly 50 years ago will be owned by a trust and a nonprofit organization.
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Patagonia's Owners Just Gave It Away -- To Planet EarthPatagonia owner Yvon Chouinard announced Wednesday the family was transferring ownership to a trust and non-profit aimed at combatting climate change.
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Patagonia founder gives company away, ensuring profits go to fight climate changeYvon Chouinard, who became famous for alpine climbs in Yosemite and then as a manufacturer of outdoor gear, said in a note: “We’re making Earth our only shareholder.”
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Billionaire No More: Patagonia Founder Gives Away the Company'Hey, friends, we just gave our company to planet Earth.' (Nice people Patagonia) vs. Right-Wing Dark Money Group Gets $1.6 Billion Donation From Tax-Dodging Business Mogul (Bad people hellbent on destroying this planet)
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