Thursday, September 15, 2022

Billionaire No More: Patagonia Founder Gives Away the Company

Rather than selling the company or taking it public, Mr. Chouinard, his wife and two adult children have transferred their ownership of Patagonia, valued at about $3 billion, to a specially designed trust and a nonprofit organization. They were created to preserve the company's independence and ensure that all of its profits — some $100 million a year — are used to combat climate change and protect undeveloped land around the globe…

https://www.nytimes.com/2022/09/14/climate/patagonia-climate-philanthropy-chouinard.html?smid=nytcore-ios-share&referringSource=articleShare

1 comment:

  1. This is pretty cool. I liked Patagonia before, but this is an awesome gesture. Hopefully, the trust and non profit work as they should.

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