Originally founded in 1973, Patagonia swiftly transitioned into becoming one of the largest clothing brand companies in over ten countries and five continents. Based out of Ventura, California, founder Yvon Chouinard has managed to grow the corporation’s overall net worth to reach approximately $3 billion. However, Chouinard has recently made the big executive decision to donate the entire business in support of the battle to end climate change: The nearly $3 billion will be transferred into a trust fund in order to protect the corporation’s intentions.
“Earth is now our only shareholder,” a statement uploaded to the company’s website read. 100% of the company’s voting stock was transferred to the Patagonia Purpose Trust, created to protect the company’s values; and 100% of the nonvoting stock had been given to the Holdfast Collective, a nonprofit dedicated to fighting the environmental crisis and defending nature.” Chouinard continued with his announcement: “It’s been a half-century since we began our experiment in responsible business. If we have any hope of a thriving planet 50 years from now, it demands all of us to do all we can with the resources we have. As the business leader, I never wanted to be, I am doing my part. Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source… I am dead serious about saving this planet.”