Yvon Chouinard Donates Patagonia to Fight Climate Crisis
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Old Coonyard is up to something new and, I think, pretty innovative and exciting:
Earth is now Patagonia's only shareholder
Here’s how it works: 100% of the company’s voting stock transfers to the Patagonia Purpose Trust, created to protect the company’s values; and 100% of the nonvoting stock had been given to the Holdfast Collective, a nonprofit dedicated to fighting the environmental crisis and defending nature. The funding will come from Patagonia: Each year, the money we make after reinvesting in the business will be distributed as a dividend to help fight the crisis.
Good on ya' Coonyard!! Never stop exploring!!
