Why Patagonia's Billionaire Founder Gave Away His $3 Billion Company to Fight Climate Change: ‘Earth Is Now Our Only Shareholder'

"The Patagonia Purpose Trust ... exists to create a more permanent legal structure to enshrine Patagonia's purpose and values," the announcement reads."It will help ensure that there is never deviation from the intent of the founder and to facilitate what the company continues to do best: demonstrate as a for-profit business that capitalism can work for the planet."

The company's mission can be traced to Chouinard's humble beginnings. In the 1960s, he was a pioneering rock climber in California who lived out of his car and ate damaged cans of cat food he purchased for 5 cents apiece, the Times reported. He was also a craftsman who made climbing gear and apparel for himself and his friends.

of its products are made from recycled or renewable materials like recycled polyester and organically grown cotton, the company says. Patagonia's public goal is to use 100% of those materials in their products by 2025. The company says it already uses 100% renewable energy in its stores, offices and distribution centers.for its commitment to environmental sustainability and advocacy.the Trump administration in 2017 over plans to shrink several national monuments in Utah.

"Despite its immensity, the Earth's resources are not infinite, and it's clear we've exceeded its limits," Chouinard wrote on Wednesday."But it's also resilient. We can save our planet if we commit to it."

Curious to see if anyone follows suit. Not holding my breath. 😉

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