Founder Yvon Chouinard said he will put 100% of the company’s voting stock into a trust.
that he would give away the multi-billion dollar outdoor clothing retail company to fight climate change.
Furthermore, 100% of the nonvoting stock was given to the Holdfast Collective, a non-profit advocacy group. Chouinard said the funding will come from Patagonia. He said every year, the money made after reinvesting in the business will be distributed as a dividend to help fight climate change. Rising sea levels to flood nearly 650,000 oceanfront properties across US by 2050, study finds
NEW YORK, NEW YORK - NOVEMBER 13: Yvon Chouinard speaks onstage during the Atlantic Salmon Federation New York Gala at the Plaza on November 13, 2019 in New York City.
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