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.
“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.”
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.
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
News
Urgent appeal issued following serious road traffic collision involving motorcyclist on M60
Emily Sergeant
An urgent appeal has been issued following a serious road traffic collision on the M60.
Greater Manchester Police (GMP) are appealing for information and dash-cam footage, as well as urging witnesses to come forward, after a motorcyclist suffered life-threatening injuries during a collision on the M60 this past Saturday (12 July).
Shortly after 1:40pm, police were called a report of a collision involving a motorbike on the anti-clockwise side of the motorway, between junctions 25 and 24.
When patrols responded and arrived on the scene, they found a man in his 50s – believed to be the motorcyclist – with life-threatening injuries, and was subsequently taken to hospital for treatment in an air ambulance, with his family being informed in the process.
An urgent appeal has been issued following a serious road traffic collision involving motorcyclist on the M60 / Credit: Wikimedia Commons
The M60 was closed in one direction, between Bredbury and Denton, following the crash from around 2:30pm onwards, and all traffic was diverted while investigations were ongoing.
GMP’s Serious Collision Investigation Unit is in the process of conducting enquiries, and at this time, it isn’t believed that any other vehicle was involved in this incident.
This is why police are appealing for anyone who may have witnessed the collision, or who has dash-cam footage, to get in on contact.
Police have also thanked the members of the public who stopped by the roadside to give the man initial first aid before emergency services arrived.
Police issue update on Oasis arrests and fence-jumpers
Daisy Jackson
Greater Manchester Police have shared an update on the arrests made at the opening two nights of Oasis Live ’25.
More than 100,000 people have flocked up to Heaton Park on Friday and Saturday evening for the first two of five Oasis reunion shows.
And largely, things have gone without a hitch, with only 15 arrests made so far.
The majority of these are arrests on suspicion of fraud, with five men and a woman in three separate incidents attempting to access the Oasis gig with fake accreditation.
Another man was arrests on suspicion of assaulting a member of security staff.
Two more men were arrested on suspicion of assault – a section 18 inside the Oasis gig at Heaton Park, and another for a section 47 outside.
Police have also said that ‘a number of people’ have attempted to access the gigs without tickets, with a perimeter gate breached on Saturday night, but ‘failed to do so’.
Five drones which breached airspace restrictions were seized on Friday.
A Section 34 Dispersal Order, which gives officers the power to direct individuals to leave a specified area and not return for 48 hours, has been in place for each night of the Oasis concerts so far.
This will be re-assessed before each concert this week, with the Gallagher brothers back at Heaton Park on Wednesday, Saturday and Sunday.
GMP around Manchester ahead of the Oasis reunion shows. Credit: GMP
Assistant Chief Constable Matt Boyle said: “We have been planning for these events for several months, working with partners and the organisers to make sure everyone can enjoy the concerts safely. To that end, I’m pleased to say that the first two Oasis homecoming events have been a success.
“What has been especially pleasing is how more than 100,000 people have enjoyed these iconic events safely and without trouble.
“We will have a highly visible presence in and around Heaton Park, and across the city, to ensure the next three events continue to pass safely.
“A number of people without tickets attempted to gain entry through a perimeter gate on Saturday night but failed to do so.
Credit: The Manc GroupCredit: Tiktok benwalkerofficialPolice say ‘just 15’ arrests made at Oasis so far
“We continue to support the event organisers and the local authority with their plans preventing any unauthorised access to the arena site.
“While arrests have thankfully been minimal, we have had to take some suspects to custody, including one after an alleged assault on a steward on Saturday night. We will not tolerate any abuse of anyone doing their job.
“On Friday night we also dealt with a number of breaches of airspace restrictions involving drones where our officers seized five drones and spoke to two other pilots.
“We continue to have airspace restrictions in place on the nights of the concerts and anyone found breaching the one-and-a-half-mile restriction zone could face prosecution.”
Emily Sergeant -
15th September 2022 
