Patagonia

Patagonia in Fortune Rankings

Change the World
Change the World 2023
Since outdoor apparel brand Patagonia started donating to environmental initiatives in 1985, it has contributed over $161 million to sustainable causes. Today the company donates 1% yearly of net revenues to mostly grassroots environmental nonprofits. Those are the kinds of numbers that allow backpackers and finance bros alike to wear their $200 vests with pride. But the company, based in Ventura, Calif., which generated an estimated $100 million profit last year, made a far bigger and more radical gift. In the apex of corporate good, Patagonia’s founder Yvon Chouinard donated a 98% stake in the company to a climate nonprofit called the Holdfast Collective in September 2022, ensuring that almost all the company’s future profits will fund environmental salvation. “Hopefully this will influence a new form of capitalism that doesn’t end up with a few rich people and a bunch of poor people,” Chouinard told the New York Times as he gave his company away.
Courtesy of Patagonia

Videos