Patagonia is a clothing company that is known for its ethical manufacturing and environmental sustainability. The company was started by Yvon Chouinard in 1973, and it has since become a $3 billion company.
However, rather than selling the company or taking it public, Mr. Chouinard and his family have transferred their ownership of Patagonia to a specially designed trust and a nonprofit organization. This was done in order to preserve the company’s independence and ensure that all of its profits are used to combat climate change and protect undeveloped land around the globe.
With this decision, Patagonia joins a growing trend of companies that are using their profits to make a positive impact on the world. This is a truly admirable goal, and I hope that other companies will follow suit.