Patagonia founder transfers ownership to environmental trust

Patagonia—the outdoor clothing and gear company founded in 1973—is making huge waves at the moment, in the wake of its founder, Yvon Chouinard, announcing that he and his family are transferring their $3 billion ownership stake in the company to a trust (Patagonia Purpose Trust) created to protest the firm's environmental and sustainability values, and to a climate-focused nonprofit collective (the Holdfast Collective). — Read the rest