Patagonia's Bold Move to Donate the Entire Company to Fight Climate Change Only Works If It Stays Competitive in Business, CEO Says

📆 22/09/2022 03:00:00
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Patagonia's decision to donate the majority of the company's profits, which it expects to be approximately $100 million a year, comes amid a fierce debate about how politically and socially active businesses and business leaders should be.

If Patagonia had decided to take the company public or sold either a majority or minority stake in the company,"we had very little confidence in meeting with quite a few potential investors that the integrity of the company would be protected," Gellert said.

"With the family, it was never a conversation in two years," the Patagonia CEO said."It was not lost on us the tax benefit via the Gellert pointed out that the Patagonia founding family did pay $17.5 million on the 2 percent of stock that went into the Patagonia Purpose Trust.

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