Patagonia founder Yvon Chouinard, who has previously expressed his reluctance at amassing wealth, is giving away his company.
The outdoor apparel company will now be in the hands of a trust and a nonprofit organization. All future profits will be donated to help fight climate change, the company announced Wednesday.
“It’s been a half-century since we began our experiment in responsible business,” Chouinard, 84, said. “If we have any hope of a thriving planet 50 years from now, it demands all of us doing all we can with the resources we have. As the business leader I never wanted to be, I am doing my part.”
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