Yvon Chouinard was born on November 9, 1938. He is a rock climber, environmentalist, philanthropist, and businessman in the outdoor industry.
And now, in a surprising turn of events, the eccentric rock climber Yvon, who started the outdoor clothing company Patagonia 50 years ago and turned it into a billion-dollar business with his own unique take on capitalism, has given the company away.
Yes, you read that right – The billionaire founder of the outdoor clothing store Patagonia says that he has given the business to a charity. Not one of them. Not one billion of his own dollars. The whole business. Here’s everything you need to know about what’s Yvon Chouinard’s net worth and what led to the billionaire deciding to give his company away.
What Is Yvon Chouinard Net Worth In 2022?
Patagonia makes about $100 million in profits and $1 billion in sales each year. Yvon was a very successful businessman, but he hated being called a “billionaire” more than almost any other successful businessman in history.
Until recently, it was hard to argue that he wasn’t a multi-multi-billionaire. After all, he was the only owner of a well-known brand that had been around for decades and made $100 million every year.
Celebrity Net Worth believes that Yvon Chouinard’s net worth is between $2 and $3 billion.
However, now that he has given his company away, and until there is further news, it should be fairly safe to assume he is still worth at least $100 million based on the dividends he has earned over the years.
Here are some more details on why the Billionaire boss of Patagonia decided to give his company away.
Patagonia Founder Yvon Chouinard Gives Away the Company To Charity
NYTimes reports that Yvon Chouinard, the billionaire boss of fashion retailer, has given the company away.
Instead of selling the company or putting it on the stock market, Mr. Chouinard, his wife, and their two adult children gave their ownership of Patagonia, which is worth about $3 billion, to a trust and a nonprofit. They were made to keep the company’s independence and ensure that all of its profits, which amount to about $100 million a year, are used to fight climate change and protect undeveloped land worldwide.
The unusual move comes at a time when billionaires and corporations are getting more and more attention. Even though they say they want to make the world a better place, their actions often make the problems they say they want to solve worse.
At the same time, Mr. Chouinard’s decision to give up the family fortune is in line with his longtime disregard for business norms and his lifelong love for the environment.
In more than 10 countries, Patagonia sells clothes for hiking and other outdoor activities.
It was started in 1973, and its estimated revenue for this year was $1.5 billion.
The Californian company already gave 1% of its annual profits to grassroots activists and was committed to doing business in a sustainable way. But in an open letter to customers, the businessman who seemed reluctant to do more said he wanted to.
He said that at first, he thought about selling Patagonia and giving the money to charity or going public with the company.
But he said that both choices would have meant giving up control of the business. “Even public companies with good intentions are under too much pressure to make short-term profits at the expense of long-term vitality and responsibility,” he said.