Patagonia Founder Gives Away Clothing Company To Fight Climate Change

The owner of outdoor clothing brand Patagonia has announced he is giving away his company in order to save the environment.

Founder Yvon Chouinard, along with his wife and two children, is bestowing the successful sportswear label to a uniquely structured trust and non-profit, with the proceeds to go towards environmental efforts.

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“As of now, Earth is our only shareholder,” he said in an open letter. “ALL profits, in perpetuity, will go to our mission to ‘save our home planet’.”

“If we have any hope of a thriving planet – much less a thriving business – 50 years from now, it is going to take all of us doing what we can with the resources we have,” said Chouinard in a statement. “This is another way we’ve found to do our part.”

Profits from the company - which is worth an estimated $4.4 billion and makes a profit of about $148 million a year will go towards defending nature and protecting the environment.

"Despite its immensity, the Earth’s resources are not infinite, and it’s clear we’ve exceeded its limits."

"But it's also resilient. We can save our planet if we commit to it," Mr Choinard wrote.

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