ActiveOutdoorsThe backstory to Patagonia’s ‘billionaire’ owner giving away his companyOutdoor enthusiast-come-reluctant-tycoon Yvon Chouinard has put his money where his mouth has long been, dedicating all future Patagonia profits the health of Planet Earth. Why?When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
ActiveOutdoorsThe backstory to Patagonia’s ‘billionaire’ owner giving away his companyOutdoor enthusiast-come-reluctant-tycoon Yvon Chouinard has put his money where his mouth has long been, dedicating all future Patagonia profits the health of Planet Earth. Why?When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
Outdoor enthusiast-come-reluctant-tycoon Yvon Chouinard has put his money where his mouth has long been, dedicating all future Patagonia profits the health of Planet Earth. Why?
When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
(Image credit: Patagonia)
(Image credit: Patagonia)
“As of now, Earth is our only shareholder,” 83-year-old Chouinard announced on Thursday. “All profits, in perpetuity, will go to our mission to ‘save our home planet’.”
It helps that, for all the profits they have undoubtably made in the 50 years the company has been in existence, Patagonia has always led the charge for apparel brands to become more sustainable and ethical in both their manufacturing and employment practises.
Over 35 years ago Patagonia imposed a 1% ‘earth tax’ on itself (formalised in 2001 under the ‘1% for the Planet Scheme’) and millions of dollars has been channelled into environmental projects as a result. Patagonia were among the first companies to become a b-Corp, not simply committing to upholding high environmental and social standards, but submitting proof of action and gaining certification.
Torres del Paine, Patagonia, Chile(Image credit: Getty)
Torres del Paine, Patagonia, Chile
Torres del Paine, Patagonia, Chile
(Image credit: Getty)
Chouinard named the company after a region he loved, where he spent time exploring with other climbers and leaders such as Douglas Tompkins, a close friend and founder of The North Face.
Sign up to the T3 newsletter for smarter living straight to your inbox
Get all the latest news, reviews, deals and buying guides on gorgeous tech, home and active products from the T3 experts
Most outdoor-active people are now familiar with Patagonia’s policies on making gear in the most sustainable and ethical way passible. The Better Sweater Fleece Jacket is a great example of that commitment. One of thebest fleecesaround, not only is it made of 100% recycled polyester, but the fabric is all Bluesign approved and Fair Trade Certified sewn, and it’s coloured with low-impact dyes.
But not everyone will remember that the brand were tackling problematic consumersism and fast fashion long before they were concepts anyone had heard of. Back in 2005, Patagonia launched its Common Threads Recycling Program with the stated goal of reducing how many products people purchase from the company, and the brand also led the way in taking old gear back from customers and repairing it. In an age of deliberately in-built obsolescence, this was revolutionary.
And then, in 2011, Patagonia took out an ad picturing one of their coats in the New York Times during the orgy of consumerism that is Black Friday, pleading with people,‘Don’t Buy This Jacket’.
Chouinard clearly doesn’t see himself as a typical businessman, let alone a tycoon, doesn’t enjoy being portrayed in that light. “I was in Forbes magazine listed as a billionaire, which really, really pissed me off,” he told theNew York Timesthis week. “I don’t have $1bn in the bank. I don’t drive Lexuses.”
“Instead of ‘going public’, you could say we’re ‘going purpose’,” said Chouinard. “Instead of extracting value from nature and transforming it into wealth for investors, we’ll use the wealth Patagonia creates to protect the source of all wealth.”
“If we have any hope of a thriving planet – much less a thriving business – 50 years from now, it is going to take all of us doing what we can with the resources we have,” the statement continued. “This is another way we’ve found to do our part.”
Vollebak pushes the limits of outerwear with Double Graphene Puffer and Shielding SuitThe company continues to weave innovation into every thread
The company continues to weave innovation into every thread
Bowers & Wilkins Pi6 review: sensational sound, ordinary ANCBowers & Wilkins' step-down true wireless earbuds sound amazing and are well-priced – so what’s the catch, if anything?
Bowers & Wilkins' step-down true wireless earbuds sound amazing and are well-priced – so what’s the catch, if anything?
Change my mind: the smaller, the better with portable power stationsPut your portable power station to work when you’re not using it
Put your portable power station to work when you’re not using it
This rugged adventure Garmin is mega cheap in Walmart’s Black Friday saleThe Instinct 2 is a top watch for outdoor and sport enthusiasts
The Instinct 2 is a top watch for outdoor and sport enthusiasts
YETI’s best-selling products are ridiculously cheap in Amazon’s Black Friday saleFancy yourself a tumbler, rambler or cooler? Amazon’s reduced them all
Fancy yourself a tumbler, rambler or cooler? Amazon’s reduced them all
AKASO Seemor 200 night vision goggles review: unparalleled clarity for nighttime adventuresAKASO’s new NVD unlocks the night with cutting-edge colour vision technology
AKASO’s new NVD unlocks the night with cutting-edge colour vision technology
8 must-have hiking gadgets for tackling cold and wet trailsWhether it be wet and rainy, or super chilly, these 8 gadgets can make your outdoor adventure even more enjoyable
Whether it be wet and rainy, or super chilly, these 8 gadgets can make your outdoor adventure even more enjoyable
Vango Classic Instant 300 review: a festival-goer’s dream tentSuper quick to pitch and pull down, this reasonably priced tent is spacious, tall and well-featured for festival use
Super quick to pitch and pull down, this reasonably priced tent is spacious, tall and well-featured for festival use
Is Columbia’s OutDry Extreme the best waterproof-breathable material that no one is using?ODX hasn’t revolutionised the outdoor apparel world in the way its creators expected it to – but that could be about to change…
ODX hasn’t revolutionised the outdoor apparel world in the way its creators expected it to – but that could be about to change…
Best YETI coolers 2025: ice cold excellenceKeep food and beverage frosty with our curated selection of top-rated YETI coolers for every occasion
Keep food and beverage frosty with our curated selection of top-rated YETI coolers for every occasion
