Why Patagonia’s Billionaire Founder Just Gave Away His Company

. Its founder Yvon Chouinard has now shown that he is willing to put his money where his mouth is, by giving the company away in an effort to fight environmental crises.

“While we’re doing our best to address the environmental crisis, it’s not enough,” he wrote. “We needed to find a way to put more money into fighting the crisis while keeping the company’s values intact,” Chouinard wrote.

This distribution will give the Holdfast Collective the bulk of the company’s profits, distributed as an annual dividend, which Patagonia said the group will spend fully on environmental causes, such as protecting nature and biodiversity and funding advocacy and political candidates as “investments in our planet.”

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