What is Yvon Chouinard doing now?

Yvon Chouinard has reportedly given away his clothing and gear company, Patagonia. The company which was founded in 1973 has been given to a trust created to protect its value. It was also reported that the company is valued at $3 billion.

The company released a statement, making this announcement.

“Earth is now our only shareholder. 100% of the company’s voting stock transfers to the Patagonia Purpose Trust, created to protect the company’s values; and 100% of the nonvoting stock had been given to the Holdfast Collective, a nonprofit dedicated to fighting the environmental crisis and defending nature,” the statement read.

In 2017, Yvon Chouinard himself spoke about preserving public lands in a Patagonia advertisement.

“It’s been a half-century since we began our experiment in responsible business. 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. Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source,” he said.