Going Purpose: Earth is now our shareholder: Patagonia Donating His Company

Going Purpose: Earth is now our shareholder: Patagonia Donating His Company
09/15/2022 0 Comments

Going Purpose: Earth is now our shareholder: Patagonia Donating His Company. Billionaire founder of Patagonia Yvon Chouinard seems to be living his purpose in life. And he is giving his fortune by Going Purpose, not going private or public. Patagonia’s website now reads …Earth is now our shareholder.

Going Purpose not Private. Yvon founder of Patagonia donating his 3 billion Company to charity is perhaps hope for a new way forward for capitalism to be part of the climate solution, not the biggest part of the problem.

According to the WSJ and USA, the billionaire founder of Patagonia has given his company away to help fight the climate crisis, according to a Wednesday announcement.

Going Purpose: Earth is now our shareholder: Patagonia Donating His Company

Yvon said on making the announcement to going purpose over going private “While we’re doing our best to address the environmental crisis, it’s not enough. We needed to find a way to put more money into fighting the crisis,” Yvon wrote in a Wednesday letter. “We can save our planet if we commit to it.”

Chouinard and his family have transferred their ownership in the company, worth about $3 billion. Patagonia’s new owners are environmental nonprofit the Holdfast Collective and the Patagonia Purpose Trust, created by Patagonia “to protect the company’s values.”

Going Purpose: Earth is now our shareholder: Patagonia Donating His Company

The Patagonia Purpose Trust owns all of the voting stock or 2% of the company. That leaves the other 98% to the Holdfast Collective, which holds all of the nonvoting stock.

According to psychologists “Finding your purpose”  or Going Purpose as we see it is living a purposeful life, a life with meaning. Purpose in life, something more than just thinking about yourself is more than just a cliché or a dream that will never be fulfilled. It’s actually a way of living your life that allows you to become better, happier, and healthier.

A 2010 study published in Applied Psychology found that individuals with high levels of eudemonic well-being—which involves having a sense of purpose along with a sense of control and a feeling like what you do is worthwhile—tend to live longer. Other researchers found that well-being might be protective for health maintenance. In that research, people with the strongest well-being were 30 percent less likely to die during the eight-and-a-half-year follow-up period.

The combination of a successful career, a loving family, and a strong social network may seem like the recipe for a perfect life. However, even those who can check each box might feel like something is missing—and that “something” is their purpose in life. And Yvon seems to be a positive example for other Billionaires to help save the planet before it’s too late.

Going Purpose: Earth is now our shareholder: Patagonia Donating His Company, article by Steven Monahan, Former fortune 100 executive, TEDx Licensee Organizer and founder CEO of philanthropic organizations Animal Charities and Going Purpose.

going purpose Patagonia

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