Businessman who donated his $3 billion company to environmental organizations: Yvon Chouinard

The climate crisis is one of the most important threats facing the world. Moreover, this threat is getting deeper every day. Many scientists and environmental activists are making a great effort to direct the attention of all humanity to this issue. A "handover" that took place in the past few days has once again brought up the issue of the climate crisis. 83-year-old American businessman Yvon Chouinard donated his ready-made clothing company he founded 50 years ago to an organization fighting the climate crisis. The value of the company called Patagonia is about 3 billion dollars! This donation by Yvon Chouinard and his family is considered one of the most courageous steps ever taken against the climate crisis.

Yvon Chouinard (born November 9, 1938) is an American rock climber, environmentalist, philanthropist and outdoor industry businessman. His company, Patagonia, is known for its commitment to protecting the environment.

Supporting the environmental movement since his youth, Yvon Chouinard founded a company called Patagonia 50 years ago.

The United States-based ready-to-wear outdoor brand has become one of the important brands of the industry over the years. The adventure that started with Yvon Chouinard's decision to manufacture climbing clothes for himself and his friends 50 years ago has led to the emergence of a huge brand with hundreds of branches around the world today. Since Yvon Chouinard is also an environmentalist, Patagonia has been known for its eco-friendly slogans and advertisements since its inception. But Chouinard was aware that tackling the climate crisis requires more sacrifice.

98% of the company's non-voting shares will be transferred to a non-profit organization called Holdfast Collective.

Patagonia, Inc. is an American outerwear retailer. It was founded in 1973 by Yvon Chouinard and is headquartered in Ventura, California. Patagonia has hundreds of stores and factories in 16 countries in more than 10 countries on five continents.

Thus, the company will be able to survive with more environmentally friendly products and applications. In addition, with the income obtained, it will be possible to fight against climate and environmental problems within wider possibilities. In the coming period, the company named Patagonia is expected to generate a net income of around $100 million annually. Since this money will be under the control of a non-profit environmental organization, it is thought to make an important contribution to the fight against the climate crisis. On the other hand, 2% of the company was transferred to the newly established foundation called Patagonia Purpose Trust. Founded by the family, this foundation will operate to preserve and sustain the company's deep-rooted corporate identity and principles. Patagonia will continue to be a profit-driven company, but will not become the owner of the company following the family takeover. Therefore, he will not be able to generate any income from the company. Instead, as explained by Yvon Chouinard, all of the company's revenues will be used to fight climate change.

This remarkable move against climate change was shared with the slogan "our only shareholder is the Earth" written on the company's website.

In the letter written by Yvon Chouinard, which was also published on the company's website, it was also explained how this important decision was made. Yvon Chouinard stated in his letter that he is considering selling the company and donating all of the proceeds, but he is worried that the new owner of the company will not be able to protect the company's values. However, he stated that offering the company to the public may also create pressure to make short-term earnings and cause the company to drift away from its values. For these reasons, the 83-year-old environmental businessman has taken one of the most remarkable steps so far in the fight against the climate crisis by donating his $3 billion worth of the company.