Patagonia founder gives away company to help fight climate crisis

Instead of selling the company or taking it public, Chouinard, who became famous for alpine climbs in Yosemite National Park and has a net worth of $1.2 billion, is transferring his family’s ownership of the company to a trust and a non-profit organization.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

Patagonia will continue to operate as a private, for-profit corporation but the Chouinard family, which controlled the company until last month, no longer own the company, according to theThis advertisement has not loaded yet, but your article continues below.Patagonia’s founder gave the $3 billion company to a set of trusts and nonprofits meant to combat climate change.

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