Summary: Patagonia announced new ownership today, nearly 50 years since founder Yvon Chouinard began his experiment in responsible business. Effective immediately, the Chouinard family has transferred all ownership to two new entities: Patagonia Purpose Trust and the Holdfast Collective. Most significantly, every dollar that is not reinvested back into Patagonia will be distributed as dividends to protect the planet.
Personal notes: Example of business changing its model to prioritize the environment, not humans. Shift from for-profit to for-planet is relevant to the reflection from human-centered to earth-centered.
Reference: Patagonia. (2022, Sept 14). PATAGONIA’S NEXT CHAPTER: EARTH IS NOW OUR ONLY SHAREHOLDER. Patagonia. https://www.patagoniaworks.com/press/2022/9/14/patagonias-next-chapter-earth-is-now-our-only-shareholder
