Half a century after founding outdoor apparel maker Patagonia, Yvon Chouinard, the eccentric mountaineer who became a reluctant billionaire with his unconventional take on capitalism, gave the company a hand.
Rather than sell the company or take it public, Chouinard, his wife and two adult children transferred their ownership of Patagonia, valued at around $3 billion, to a purpose-built trust and 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 fight climate change and protect undeveloped land around the world.
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