The billionaire owner of Patagonia has given the company away to environmental causes in a bid to help fight the climate crisis.
Standing by the morals the sportswear and outdoors fashion brand has always aligned with, and in a move that is no doubt setting the standard when it comes to environmental corporate leadership, Patagonia founder Yvon Chouinard and his family are giving away the entire company valued at $3 billion to a uniquely-structured trust and non-profit.
The move is designed to put all of the company’s profits into saving the planet.
Previously, Patagonia had given away 1% of its sales each year, and 2018, it said it was in “business to save our home planet” – but now, reluctant billionaire Mr Chouinard has said he feels this is “not enough”.
“I never wanted to be a businessman,” Mr Chouinard explained.
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“I started as a craftsman, making climbing gear for my friends and myself, then got into apparel [but] as we began to witness the extent of global warming and ecological destruction, and our own contribution to it, Patagonia is committed to using our company to change the way business was done.
“If we could do the right thing while making enough to pay the bills, we could influence customers and other businesses, and maybe change the system along the way.”
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Patagonia founder gives away $3 billion company to environmental causes fighting climate crisis / Credit: Patagonia
Kicking off the next 50 years, Patagonia says it’s “going purpose” instead of “going public”.
All ownership has been transferred to two new entities – Patagonia Purpose Trust and the Holdfast Collective.
Most significantly, every dollar that is not reinvested back into Patagonia will be distributed as dividends to protect the planet.
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The Patagonia Purpose Trust now owns all the voting stock of the company, and exists to create a more permanent legal structure to “enshrine Patagonia’s purpose and values”, and will help ensure that there is never deviation from the intent of the founder.
It will facilitate what the company says it continues to do best – “demonstrate as a for-profit business that capitalism can work for the planet.”
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 Holdfast Collective now owns all the non-voting stock, and will use every dollar received from Patagonia to “protect nature and biodiversity”, support thriving communities, and ultimately, work on tackling and preventing climate change.
Each year, profits that are not reinvested back into the business, will be distributed by Patagonia as a dividend to help fight the climate crisis.
Announcing the transfer of the company, Mr Chouinard: “It’s been a half-century since we began our experiment in responsible business, but 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.
“We’re making Earth our only shareholder – I am dead serious about saving this planet.”
Featured Image – Patagonia
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Major pop star CMAT pops up for surprise performance in Gay Village bar
Daisy Jackson
CMAT, one of the world’s hottest artists right now, popped up and did a surprise set inside a legendary Gay Village bar last night.
The Irish singer (who is a bit of an adopted Manc at this point) is about to play two massive sold-out shows in Manchester.
She’s set to play at the O2 Victoria Warehouse tonight and tomorrow, performing hits from her chart-topping third studio album Euro-Country.
But before that, it was a night out on Canal Street for CMAT, who stunned punters inside Via by hopping up on stage.
CMAT jumped on stage along with drag queen Ginger Hunter, resident queen Amy Laqueefa, and Dahliah Rivers and belted out a rendition of her smash hit single, Take A Sexy Picture Of Me.
The group – and the delighted audience – all joined her in nailing the choreography to the song too.
Sharing a couple of videos, Via wrote: “What a Night! Ireland’s Pop Princess @cmatbaby paid us a visit and gave us a very special rendition of Take a Sexy Picture! We love Cmat.”
She’d also been spotted earlier in the evening at Lily Allen’s West End Girl show at Aviva Studios.
Dahliah Rivers commented: “A fever dream!!! What a gorgeous evening”
Amy LaQueefa wrote: “Obsessed that CMAT wanted to come and get up with us tonight”
Fast-rising alt-pop favourite CMAT relocated to Manchester as a 17-year-old back in 2013 to pursue her career in music, and it’s fair to say the move turned out to be a positive one.
She’s supported the likes of Sam Fender, and played massive festival slots like Glastonbury last summer.
And now CMAT will head straight from the stage at Via to a much bigger platform, with two sold-out gigs at the O2 Victoria Warehouse on 11 and 12 March.
The full 2026 MOBOs Fringe programme for the first-ever awards in Manchester has been revealed
Danny Jones
Now the BRITs have been and gone, it’s time to switch our focus to the next big awards show: the 2026 MOBOs, which is also coming to Manchester for the very first time, and they’re bringing the popular Fringe event along with it.
Get ready for more big showbiz hustle and bustle to hit the city centre before you know it; we, for one, are so ready.
Similar to the aforementioned BRIT Awards, the MOBOs also hold a regular ‘Fringe’ music, arts and cultural festival with each annual edition.
You can see the full range of this year’s largely free-to-attend MOBOs Fringe lineup and the extensive schedule in its entirety down below.
Manchester, it’s your time.
The full #MOBOFringe 2026 programme is here – nine days of music, culture, panels, parties and showcases across the city ahead of the #MOBOAwards on 26 March.
As you can see, there’s a lot on the cards this year, with different activities and activations happening all over central Manchester.
Featuring everything from exclusive live sets, sport and other entertainment, to various selectors and even a creative summit, it’s jam-packed with countless aspects beyond just that music that help make the industry as a whole tick.
Venues involved include The Whitworth Gallery, faithful Green Island Festival partners, the Niamos Centre, multi-purpose bars and events spaces like Side Street and Renae, as well as important music venues like The Deaf Institute and Aviva Studios – a.k.a. the home of Factory International.
Each hosting a variety of different dates over the course of its nearly week-long duration ahead of the MOBO Awards themselves, there’s something for everyone and anyone interested not just in Black music and entertainment but Black-British culture and more.
For instance, we already heard about the exclusive basketball match between Manchester and a fellow European competitor, and tickets are live as we speak. You can see the full Fringe programme in more detail online.
Running from Thursday 19 to Tuesday 24 March, the event week is shaping up to be a cracker.
As for the inaugural Manc MOBOs ceremony at Co-op Live, it gets underway just a couple of days later on the following Thursday (26 Mar).
serving as the perfect way to close the Fringe and this year’s edition as a whole.
Tickets for the MOBO Awards Manchester debut are live as we speak, with general admission prices starting from less than £30. You can grab yours HERE.
As for those expected to be in attendance, the likes of Olivia Dean and local rapper Aitch have already been confirmed for the live music lineup, and to see the full list of nominees, look no further…
Emily Sergeant -
15th September 2022 
