The founder of Patagonia, Yvon Chouinard Before that handover, Patagonia already donated $50 million to the Holdfast Collective and will provide another $100 million this year, making Holdfast already one of the biggest influences in climate change and global warming. Succession, for any significant business, is often a headache, especially if you have been at the forefront of environmental change, which has been a hardcore foundation of Patagonia. Chouinard’s children, now in their forties, did not want to take over the company. Chouinard has an out-spoken view of the stock market and making a business public, so the gifting of the 3-billion-dollar ownership and the 100 million-a-year profit is a natural solution for the man that is Yvon Chouinard. “I didn’t know what to do with the company because I didn’t ever want a company,” he said. “I did not want to be a businessman. Now I could die tomorrow, and the company will continue doing the right thing for the next 50 years, and I do not have to be around.” The company has given away 1 per cent of its sales for years to environmental groups. Recently, the company has become more politically active, even raising a lawsuit against the Trump administration to successfully protect the Bears Ears National Monument San Juan County in South-Eastern Utah. People like what Patagonia stands for and have continued to purchase the brand even though it costs more; Patagonia’s sales continue to soar. But as Chouinard's net worth continues to climb, it is something that he is openly uncomfortable about as he is vocal re the rich and excessive wealth. He said in a recent interview. "I was in Forbes magazine listed as a billionaire, which pissed me off,” he said. “I do not have $1 billion in the bank. I do not drive a Lexus.” Now that the pathway for Patagonia as a company is clear, with noble objectives of both being a profitable company and investing those profits solely in tackling climate change and environmental issues. However, the question remains, will Patagonia survive without Chouinard’s driving force and the unusual situation of the profit going directly into the trusts? "Instead of “going public” you could say we’re “going purpose”. Instead of extracting value from nature and transforming it into wealth for investers, we’ll use the wealth Patagonia creates to protect the source of all wealth." For Chouinard, this gifting of the company to a trust and a non-profit organisation is a typically ‘Patagonia’ unique way of approaching complex issues. This situation, whether successful or not, will ensure the company profits will continue to be put to beneficial use. It also resolves the question of what will happen to Patagonia after its founder is gone, ensuring that the company's profits will be put to work protecting the planet. Mr Chouinard summed it up by saying. "I feel relief that I've put my life in order.” Will this ‘’gifting of success’’ back to the planet be an example to others? I guess we will have to wait and see, but if history has shown us anything regarding Patagonia and its success, it is that as a moral innovator, Patagonia has motivated a whole industry since its inception – Chouinard’s legacy maybe is more than just his contribution. We will leave you with words from the man himself… “It’s been nearly 50 years since we began our experiment in responsible business, and we are just getting started. If we have any hope of a thriving planet – much less a thriving business – 50 years from now, it’s going to take all of us doing what we can with the resources we have. This is another way we’ve found to do our part. Despite its immensity, the Earth’s resources are not infinite, and it’s clear we’ve exceeded its limits. But it’s also resilient. We can save our planet if we commit to it.” 8//WHERE ACTIONS SPEAK LOUDER THAN WORDS/#<strong>234</strong>
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