Patagonia Owner Gives Away Company
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Billionaire No More: Patagonia Founder Gives Away the Company / The New York Times
Long-time climate science booster and founder of outdoor clothing brand Patagonia, Yvon Chouinard, has announced that he (and his family) are transferring their ownership of Patagonia (which is valued at about $3 billion) to a combination trust and nonprofit organization which will serve to preserve the company’s independence while also ensuring all profits are used to combat climate change and protect undeveloped land around the world.
This aligns with Chouinard’s earlier voiced opinions and actions, and it serves as a counterpoint to another recent billionaire-donation of an electronics company (worth about $1.6 billion) to fund US-based conservative causes, including opposition to climate-related policies and regulations.
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