mp1

The wisdom is well known and itis almost a cliche when it brought to out attention yet again but when Alanis Obomsawin, said: "Only when the last tree has been cut down, the last fish been caught, and the last stream poisoned, will we realize we cannot eat money". Here she emphasizes that human greed for wealth will eventually destroy the natural resources necessary for survival. Most MONEYpeople do not heae the wisdom and spend their lives figuring out how to protect their wealth.

This one figured out how to let it go. In September 2022, Yvon Chouinard, the founder of Patagonia, made a decision that challenged traditional ideas of success.

He gave away the entire company. Patagonia, valued at roughly three billion dollars, was not sold, taken public, or passed down to family members.

Instead, ownership was transferred to two new entities. The Patagonia Purpose Trust now holds voting control to protect the company’s mission, while the nonprofit Holdfast Collective receives all profits not reinvested into the business and uses them to fight climate change and protect nature. This structure ensures that Patagonia exists for one purpose alone: to benefit the planet.

This was not charity after success. Environmental responsibility had been embedded in Patagonia’s operations for decades, from supply chains to a strong repair culture. Giving the company away was the final step in a long-standing philosophy.

By stepping away from ownership, Chouinard removed himself from billionaire rankings and left behind a different kind of legacy. One that quietly asks whether success is measured by what you accumulate, or by what you choose not to keep.

Source: Chouinard, Y. (2022). Patagonia’s ownership transition and environmental mission. Reuters; CNBC.

#fblifestyle#Patagonia#WealthDistribution#Legacy