Patagonia: “Earth is Now Our Only Shareholder”

The founder of Patagonia has given away his company for a good cause…saving the planet.

Yvon Chouinard and his family transferred their ownership in the company to environmental nonprofit the Holdfast Collective and the Patagonia Purpose Trust.

Chouinard did not settle for other options which were to go public or sell the company and donate all the money, so he created his own to preserve Patagonia’s mission. “Instead of ‘going public,’ you could say we’re ‘going purpose’ …We’ll use the wealth Patagonia creates to protect the source of all wealth,” Chouinard wrote in his letter announcing the change of ownership.

USA Today reported, “The Patagonia Purpose Trust owns all of the voting stock, or 2% of the company. That leaves the other 98% to the Holdfast Collective, who holds all of the nonvoting stock.”

Patagonia will remain a for-profit business, but every year (after reinvesting in the company) will donate all money to Holdfast Collection to help fight the climate crisis.

According to the letter, “The Holdfast Collective will use every dollar received to fight the environmental crisis, protect nature and biodiversity, and support thriving communities, as quickly as possible.”

Patagonia sells more than $1 billion in apparel each year so an expected $100 million will be going towards their climate pursuits.

Just think, your next Patagonia purchase could save the planet!