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Patagonia founder gives company away to environmental trusts

FILE - A Patagonia store is seen on Jan. 12, 2022, in Pittsburgh. The founder of outdoor gear company Patagonia, long known for environmental activism, said Wednesday, Sept. 14, 2022, that the company is transferring all of its voting shares into a trust “dedicated to fighting the environmental crisis and defending nature.” (AP Photo/Gene J. Puskar, File)

FILE - Yvon Chouinard, the founder and chairman of Ventura-based Patagonia Inc., is photographed Sept 28, 2005, in the original Chouinard Equipment blacksmith shop located in Ventura, Calif., where he once forged pitons for mountaineers. In a letter posted on the privately-held company's website on Wednesday, Sept. 14, 2022, Chouinard said the 50-year-old company would transfer 100% of the its voting stock to the Patagonia Purpose Trust and and 100% of its nonvoting stock had been given to the Holdfast Collective. (Al Seib/Los Angeles Times via AP, File)

Patagonia founder gives company away to environmental trusts