Patagonia Owner Gives Away Company To Save Planet

Patagonia founder Yvon Chouinard is giving away his apparel brand worth $3 billion to help save the planet.However, instead of selling it or taking it public, the company will now be owned and offloaded to a trust. The trust will ensure all of Patagonia’s profits go directly to fighting climate change. This could equate to approximately an additional $100 million a year going to fight climate change. "While we’re doing our best to address the environmental crisis, it’s not enough. We needed to find a way to put more money into fighting the crisis while keeping the company’s values intact," Yvon Chouinard. Chouinard says if we want to have any chance of saving our planet, we must act now. Yvon Chouinard founded Patagonia in 1973. The company is based in Ventura, California.