The founder of the California-based clothing company ‘Patagonia’ announced on Wednesday that he is giving the company away, ensuring that all profits are used to combat climate change. FOX13
For nearly 50 years, Yvon Chouinard has been leading the apparel company, creating an image for a brand that focuses on the planet rather than profit. In the past, Patagonia has used materials that are less harmful to the environment, as well as giving away 1% of sales to fight the climate crisis. On Wednesday, he posted a press release on theIn a letter, Chouinard wrote that he never wanted to be a businessman.
100% of the company’s voting stock will now be transferred to the Patagonia Purpose Trust, and 100% of the nonvoting stock will go toward Holdfast Collective, a nonprofit that pledges to fight the environmental crisis and defend nature.
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