Patagonia founder Yvon Chouinard never wanted to be a businessman. He started as a craftsman, making climbing gear for himself and friends then got into apparel. Boy was he successful but rather than use his success for personal gain he committed his company to doing business responsibly for the good of it's people and the natural world. Well before environmental issues were newsworthy Patagonia were focussed on climate change because their leader was an outdoor enthusiast who witnessed the damage irresponsible clothing manufacture could do. Famously advertising 'Don't buy this fleece', launching Patagonia works to repair and mend where possible and managing his employees with the ethos of - 'let my people go surfing' Yvon Chouinard was ahead of his time.
On 14th September 2022 Yvon Choinard wrote a letter announcing that 'Earth is now our only shareholder'. To protect his legacy he gave his company away. 100% of the company’s voting stock transferred to the Patagonia Purpose Trust, created to protect the company’s values; and 100% of the nonvoting stock was given to the Holdfast Collective, a nonprofit dedicated to fighting the environmental crisis and defending nature. Any profit not reinvested in the business will go towards fighting climate crisis.
