The founder of Patagonia is handing over his company, valued at $3 billion, over to trusts and non-profit organizations focused on fighting climate change.
. The unprecedented move makes his family some of the most charitable business owners in the U.S.
Instead of passing along the business to his two children, the Chouinards relinquished control of the company to organizations they believe will bring good to the environment. They handed over their voting stock to the Patagonia Purpose Trust, overseen by members of the family and advisers with the intention of overseeing that the company makes good on its commitment to combating global warming.
“I feel a big relief that I’ve put my life in order,” Chouinard — who said he was “pissed off” when Forbes listed him as a billionaire — said. “For us, this was the ideal solution.”
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