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The founder of Patagonia gave away his company to fight climate change. Is that really as good as it sounds?

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Photo by Matthew Modoono/Northeastern University
Patagonia

Last week, Yvon Chouinard, founder of the multi-billion-dollar clothing brand Patagonia, announced he was doing something different with his company: giving it away.

Chouinard and his family transferred the entirety of their ownership of the company to both a newly designed trust and a newly created nonprofit. The Patagonia Purpose Trust will maintain the company’s “socially responsible business” approach, while the Holdfast Collective, a new nonprofit, will use company profits to fight climate change.

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