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Founder of Patagonia surrenders his brand to fight climate change

Billionaire founder Yvon Chouinard announced on the company’s website that he’s surrendering his brand in an effort to fight climate change.

Yvon Chouinard built his outdoor apparel empire Patagonia in 1984 and garnered millions of dollars since then. However, the 83-year-old billionaire decided to give it up: from now on, all profits will be transferred to the Patagonia Purpose Trust and nonprofit organization Holdfast Collective, who are obliged to spend the money on environmental causes—this estimated to be approximately $100 million a year.


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