Patagonia: A billionaire boss of a fashion company gives his money away to fight climate change
Prasannkumar 
Patagonia founder and billionaire Patagonia Outdoor Fashion Brand has donated his company to a charity trust.
Yvon Chouinard stated that any profits not reinvested in the running of the business would be used to fight climate change.
Because of its sustainability efforts, such as offering affordable repairs and guaranteeing clothes for life, the label has gained a loyal following.
The famous advertisement Don’t Buy This Jacket asks shoppers to think about the environmental impact of their purchase.
The website of the brand now says: Earth is our sole shareholder.
Mr Chouinard always stated that he didn’t want to be a businessman.
He is a rock climbing enthusiast and started by making metal climbing spikes to help his friends wedge into rocks. Then he moved into clothing and created a highly successful sportswear brand that has a cult following.
Patagonia was founded in 1973. Its sales reached $1.5bn last year. Mr. Chouinard’s net worth, however, is estimated to be $1.2bn.
He has never been proud of his wealth, and told the New York Times that he was shocked to be called a billionaire.
According to the company’s health, he claimed that the profits that will be donated to climate causes would amount to about $100m (PS87m).
The Earth’s resources aren’t infinite, despite their immense size, and it’s obvious we’ve reached its limits,” the entrepreneur stated of his decision to sell ownership.
Instead of extracting nature’s value and turning it into wealth, Patagonia uses the wealth Patagonia creates for the protection of the source.
Marketing campaigns by the firm, which ask people to only buy what they need, have not affected sales. Critics have suggested that it has increased spending by increasing its visibility.
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