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$3 billion gift to Mother Nature: Owners of Ventura-based company donate it to fight climate change

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Patagonia
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Patagonia will be run by trust which will use profits for environmental causes.

The owners of a Ventura County company which is one of the world’s best known outdoor apparel makers are donating the half-century old business to a trust which will use profits to help the environment.

Yvon Chouinard, his wife and two children are giving away their stock in Patagonia, which is valued at around $3 billion. The company will be owned by a collective that will use profits to fight climate change. In a statement on the company’s website, Chouinard said Earth will now be our only shareholder.

It projected that the trust could generate around $100 million a year for environmental programs and efforts. The family will sit on the board of the trust, to help guide spending.

Patagonia and its founder have had a long history of supporting environmental causes. The Ventura based company makes and markets outdoor apparel, outdoor gear, and foods made from sustainable sources.

Lance Orozco has been News Director of KCLU since 2001, providing award-winning coverage of some of the biggest news events in the region, including the Thomas and Woolsey brush fires, the deadly Montecito debris flow, the Borderline Bar and Grill attack, and Ronald Reagan's funeral.