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How Patagonia Gives Away Its Billion-Dollar Company
In September 2022, Yvon Chouinard did something no other billionaire founder had done: he gave away Patagonia. Not sold it, not IPO'd it — he transferred the entire company, worth roughly $3 billion, to a trust and a nonprofit. This episode of The CEO Diary drills into the mechanics of that decision: the irrevocable voting trust that guarantees the founder's values outlive him, the Holdfast Collective that now receives all profits not reinvested into the business, and the specific tax and governance architecture that makes it stick. Lucas and Luna walk through how Chouinard…
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