Billionaire Patagonia Founder Gives Company Away to Fight Climate Change
Yvon Chouinard and his family, founders of outdoor apparel company Patagonia, are transferring ownership to a charitable trust, with expected profits of US$100m a year to go to addressing climate change. Chouinard considered selling the company or going public, but decided on the unusual move to ensure the company’s profits will go to protect the environment.
Click here for full Bloomberg article (Paywall)
Patagonia article available here