Patagonia is an outdoor American clothing brand with a strong focus on the environment. Is it any surprise then that the brand’s founder, billionaire Yvon Chouinard, has given away his company to help fight climate change?
While Chouinard is known for his love of rock climbing, it’s his passion for the environment that has transformed his company into the environmentally-conscious brand it is today.
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The company is worth around $3 billion and any profit not reinvested in running the business would go to fighting climate change, says Chouinard.
Chouinard is reportedly worth around $1.2 billion but has always shied away from the “billionaire” label. During an interview with the New York Times, he noted he was “horrified to be seen as a billionaire” and further stated that he “never wanted to be a businessman.”
It has since been placed in a charitable trust.
Following the announcement, the brand’s website read: “Earth is now our only shareholder.”
According to BBC, profits to be donated to climate causes will come to around $100 million but is dependent on how well the company is doing.
Feature image: Patagonia