Coverage dated September 13, 2022 to September 14, 2022
Patagonia Founder Just Donated the Entire Company, Worth $3 Billion, to Fight Climate Change
Headline from NBC 6 South Florida
Moving forward, Patagonia’s profits that are not re-invested into the business will be donated to a group of nonprofit organizations fighting climate change.
NBC 6 South Florida's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
Moving forward, Patagonia’s profits that are not re-invested into the business will be donated to a group of nonprofit organizations fighting climate change.
Yvon Chouinard, who became famous for alpine climbs in Yosemite and then as a manufacturer of outdoor gear, said in a note: "We’re making Earth our only shareholder."
The founder of outdoor apparel and gear company Patagonia announced Wednesday that he is giving his company away after 50 years to groups that advocate climate change mitigation.
All future Patagonia profits that aren’t reinvested into the company will go toward combating climate change, the company said, stripping founder Yvon Chouinard of his billionaire status.
Estimated to be worth $3 billion, Patagonia will be given to a specially-designed trust and a nonprofit organization to ensure all profits — about $100 million a year — are used to combat climate change.
CNN By Kate Trafecante, CNN Patagonia’s founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis. Patagonia is a private company based in Ventura, California, that sells outdoor apparel and equipment.
The founder of outdoor gear company Patagonia, long known for environmental activism, says the company is transferring all of the its voting shares into a trust “dedicated to fighting the
The founder of outdoor clothing retailer Patagonia announced Wednesday that its profits would all go toward fighting climate change and conserving land. Yvon Chouinard said the company was now in the Patagonia Purpose Trust and the Holdfast Collective, a nonprofit.
The founder of outdoor apparel brand Patagonia transferred ownership of the company to two entities that will carry on his “dead serious” mission of protecting the environment.
