Who is Yvon Chouinard? Wiki, Bio, Age, Patagonia founder, Climate change

By | September 15, 2022

Yvon Chouinard Wiki – Yvon Chouinard Biography

The famous philanthropist and founder of Patagonia, Yvon Chouinard, surprised everyone after announcing that he turned over his company to environmental organizations. The 83-year-old head of the outdoor gear company expects the move to generate about $100 million a year to help finance the two groups spreading climate change. The unprecedented move has won widespread recognition for the billionaire.

Patagonia founder gives away $3B company to combat climate change

“Earth is now our sole shareholder,” Chouinard posted on the company’s website, after transferring Patagonia’s shares to Patagonia Purpose Trust and Holdfast Collective. In a statement, Chouinard said: “If we have any hope of a thriving planet, much less a thriving business, 50 years from now, it will require all of us to do what we can with the resources we have.”

From now on, the Holdfast Collective group will have a share of Patagonia’s shares, around 98%, and will receive all profits that are not reinvested in the company. The organization that Chouinard established in 1973 will be dedicated to combating environmental challenges and supporting communities. He said, “We will use every dollar received from Patagonia to protect nature and biodiversity, support thriving communities, and fight the environmental crisis.”

The company’s official statement said: “Patagonia’s leadership will remain the same and members of the Chouinard family will continue to serve on the board.” Chouinard started Patagonia nearly 50 years ago because of his love of mountaineering and later expanded into his other areas of interest. He also set the benchmark for sustainable sourcing, the use of organic cotton, and worker benefits such as on-site childcare facilities.

According to statistics, Patagonia is valued at around $3 billion and sells a wide range of products, from ski jackets to sustainably sourced salmon jerky. Always concerned about environmental issues, the company donates 1% of its annual profits in this direction.

In addition, the Chouinard family will pay about $17 million in gift taxes on shares donated to the Holdfast Collective, Time reported. “Instead of ‘going public,’ you could say ‘we have a purpose.’ Instead of extracting value from nature and transforming it into wealth for investors, we will use the wealth that Patagonia creates to protect the source of all wealth,” he said. “We can save our planet if we commit to it.”

The announcement generated several responses on Twitter, with many sharing their appreciation for Chouinard. One said: “Why am I a proud customer for decades? (Even if I can only pay for sales).” “That’s for being the leader of the pack once again! You always strive for excellence!!” another wrote. One fan commented: “Thank you @patagonia! We need more like you to help keep our planet habitable!” Another chimed in: “Forever grateful to this visionary and warrior from our home planet. Now let’s each do our part to stop the crisis we face.”

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