Published 09/15/2022 12:10:00 a.m.

Patagonia Founder Gives Away Entire Company To Fight Climate Change

Summary by Ground News

Yvon Chouinard, the billionaire founder of the outdoor apparel brand Patagonia, said on Wednesday he is giving away the company to a trust. The company will use its profit to fight the climate crisis, he wrote in an open letter on the company's website. Chouinard, who has a net worth of $1.2 billion, is transferring his family's ownership of the company.

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Times of India

Patagonia founder gives away company to save planet

Yvon Chouinard, 83, could have sold the brand -- valued at $3 billion, according to The New York Times -- or taken it public. Instead, he, his wife and their two children agreed to transfer all of Patagonia's voting shares, or stock that gives the holder voting rights, in the company to a trust in charge of ensuring the brand's environmental values are respected.

09/15/2022 1:18:00 a.m.·India

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BBC News

Patagonia: Billionaire boss gives fashion firm away to fight climate change

Yvon Chouinard will give all of the fashion company's profits to a charity fighting climate change.

09/14/2022 11:58:47 p.m.·United Kingdom

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News18 India

Earth Only Shareholder: Patagonia Founder Gives Away $3 Billion Company to Save Planet

All of Patagonia's nonvoting shares have been transferred to a nonprofit dedicated to fighting against climate change and for nature protection and conservation. Company profits will also be donated to the nonprofit.

09/15/2022 8:24:06 a.m.·India

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The Independent

Patagonia founder Yvon Chouinard gives away the $3bn company to environmental causes: ‘Earth is now our only shareholder’

The founder of Patagonia, Yvon Chouinard, and his family, have given away the $3 billion company to an environmental trust and non-profit.

09/14/2022 9:34:46 p.m.·London, United Kingdom

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CBC News

Patagonia's billionaire founder gives away his company to help fight climate change

Yvon Chouinard, the billionaire founder of outdoor apparel brand Patagonia said Wednesday that he's giving away the company to a trust that will use its profit to fight the climate crisis.

09/15/2022 1:10:05 a.m.·Canada

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Reuters

Patagonia founder gives away company to help fight climate crisis

Yvon Chouinard, the billionaire founder of the outdoor apparel brand Patagonia, said on Wednesday he is giving away the company to a trust that will use its profit to fight the climate crisis.

09/14/2022 11:11:19 p.m.·United Kingdom

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