The infamous Yvon Chouinard donating his company Patagonia, he made about half a century ago. Founder of Yvon Chouinard, his wife, and his two children have decided to donate their half-a-century ago well-established company, Patagonia. All the profit and earnings of will be dedicated to protecting land, and biodiversity and fighting for climate change. Right now, the company’s net worth is around $3 billion.
The owner claims that more money is required for environment protection. That is why while keeping the value of the company intact, all the profit of Patagonia will be donated to the climate crisis funds. However, the owner had a few options. One was to sell the company, but the risk of new owner degrading the company’s value made Yvon Chouinard reject this idea. Another option was to make the firm, public. But the owner thought that would’ve been a disaster in itself.
The trust will be overseen by the family members and closest relatives of Yvon Chouinard. The Patagonia Purpose Trust will get the voting stocks which comprises of just 2% of the total and the Holdfast Collective will acquire the remaining 98% which includes the non-voting stocks. Approximately $100 billion annually is being generate d and now donated from, depending on the working of business in the future.