Thursday, December 1, 2022

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What good is money if it cannot help others and the earth?

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Yvon Chouinard, founder of California-based Patagonia is now retiring after almost 50 years of stewardship. He has chosen to give away the $3 billion outdoor apparel company for free to help save the earth.

It is extraordinary. Most entrepreneurs do not put the earth or climate change as their most important concern. In a statement on Patagonia’s website, Chouinard explained that he did not want to sell his company because he wanted to preserve its values and keep the people working for Patagonia around the world employed. Under a specially designed trust and a nonprofit organization, Chouinard’s apparel company will continue supporting actions on climate and the environment. How’s that for an encore?

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