Patagonia founder donates entire company to fight against climate change

The company is said to be worth upwards of $3 billion

By Kelly McClure

Nights & Weekends Editor

Published September 16, 2022 8:46PM (EDT)

Patagonia store owner Yvon Chouinard poses in his shop November 21, 1993 in California.  (Jean-Marc Giboux/Liaison Agency/Getty)
Patagonia store owner Yvon Chouinard poses in his shop November 21, 1993 in California. (Jean-Marc Giboux/Liaison Agency/Getty)

Yvon Chouinard, founder of the popular outdoorsy clothing and accessories brand, Patagonia, has announced that he's donating his entire company to help fight against climate change.

Launched over 50 years ago, the company is now worth upwards of $3 billion and will be transferred over to a collective that will oversee that all non reinvested profits will be put to use as Chouinard intends.

In a statement published on the Patagonia website on Wednesday, Choiunard says:

"While we're doing our best to address the environmental crisis, it's not enough. We needed to find a way to put more money into fighting the crisis while keeping the company's values intact. One option was to sell Patagonia and donate all the money. But we couldn't be sure a new owner would maintain our values or keep our team of people around the world employed.

Another path was to take the company public. What a disaster that would have been. Even public companies with good intentions are under too much pressure to create short-term gain at the expense of long-term vitality and responsibility.

Truth be told, there were no good options available. So, we created our own."

 

 


By Kelly McClure

Kelly McClure is a journalist and fiction writer who lives in New Orleans. She is Salon's Nights and Weekends editor, and her work has been featured in Vulture, The A.V. Club, Vanity Fair, Cosmopolitan, Nylon, Vice, and elsewhere. She is the author of Something is Always Happening Somewhere

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Related Topics ------------------------------------------

Aggregate Climate Change Patagonia Yvon Chouinard