Billionaire Patagonia Founder Gives Company Away to Fight Climate Change
Yvon Chouinard and his family are transferring ownership of the apparel company to a trust and nonprofit instead of pursuing a sale.
Patagonia gives away 1% of sales each year.
Photographer: Wong Maye-E/AP Photo
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Patagonia founder Yvon Chouinard and his family are giving away ownership in the outdoor apparel company he created almost fifty years ago to a trust and a non-profit devoted to fighting the environmental crisis.
Chouinard considered selling the company or going public, but decided on the unusual move to ensure the company’s profits will go to protect the environment.