Yvon Chouinard, Patagonia’s Philanthropist

Yvon Chouinard started climbing at age 14, learning how to rappel to cliffside aeries as a member of the Southern California Falconry Club in the early 1950s. He made his own equipment to scale the steep granite walls of Yosemite Valley, then sold it to friends. In 1973 he founded Patagonia, which soon branched into clothing and other outdoor gear.

Now 84, Chouinard set up his donation using an unusual structure that could serve as a model for other philanthropists. Rather than sell the company, valued at $3 billion, he gave 98% of it to a new organization, Holdfast Collective, that he said will be “dedicated to fighting the environmental crisis and defending nature.” He won’t get a tax deduction, because Holdfast isn’t a normal nonprofit charity. As a 501(c)(4) organization, though, it can take liberties that personal foundations and other 501(c)(3)s can’t, including giving to political campaigns and engaging in unlimited lobbying. The move immediately makes Holdfast a major force in the battle against climate change.