Lululemon Billionaire Pledges Stock for $500 Million in Loans

Lululemon Athletica Inc. founder Chip Wilson pledged shares in return for cash for the third time in just over a year, freeing the billionaire to spend on other matters and maintain his voting influence over the yogawear-maker he founded nearly three decades ago.

Wilson now has access to more than $500 million from different banks without having to sell stock.