The founder of Patagonia has donated the multi-billion-dollar company to fight the climate crisis

While some billionaires are busy indulging in carbon-intensive space races and designing bendy submarines, the founder of outdoor goods shop Patagonia, Yvon Chouinard, has done something truly impressive – he’s given his three billion-dollar company to a trust to fund the fight against climate change.

The rock climber and philanthropist had already put environmentalism and employee welfare at the heart of Patagonia’s business model, in case you’d ever wondered if there’s any such thing as a good billionaire. Former billionaire, we should say.

In an open letter, entitled ‘Earth is now our only shareholder’, Chouinard said –

‘Instead of “going public,” you could say we’re “going purpose.” Instead of extracting value from nature and transforming it into wealth for investors, we’ll use the wealth Patagonia creates to protect the source of all wealth.’

The structure devised for this step in Patagonia’s evolution could well become the philanthropical model for businesses aiming to be completely ethical.

Some people wondered how his heirs might view the move.

If they’re a chip off the old block, they’re probably cheering him on.

Tiernan Douieb had a hope we all share.

Elon, Jeff, King Charles – the balls are in your courts.

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Source Patagonia Image Patagonia