Patagonia Given Away 🌄

Patagonia Given Away

In 1973, popular mountain climber and environmentalist Yvon Chouinard created Patagonia, a small clothing brand that targeted mountain climbers and anyone who wanted to venture into the outdoors. Now, the company is valued at close to $3 billion dollars, and Chouinard has just donated to the company to fight climate change.

Patagonia itself has been a global leader in sustainability for the apparel industry, with 87% of its products being made with recycled material and its steady aim to be carbon neutral in 2025. During a time when “fast fashion” has become popular for its low costs, Patagonia has done well in distinguishing itself as the benchmark for an ethical, environmental-friendly brand.

To push the boundaries further as an environmental activist, Chouinard has recently donated 98% of Patagonia to the Holdfast Collective, a non-profit that adds its annual $100 million profits to fight climate change and protect the environment. Chouinard’s family’s voting stock, which was 2% of its total shares, was transferred to an entity known as the Patagonia Purpose Trust. Aside from the good light of this donation, Bloomberg also notes that Chouinard had avoided nearly $700 million on federal capital gains tax had he sold the company rather than donated it.

Regardless, the striking news of Chouinard’s donation could prompt a new wave of capitalism, one that champions philanthropy and activism over greed.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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