RIYADH: Yvon Chouinard, founder of American outdoor cloth retailing company Patagonia, his spouse and two adult children have transferred their ownership in the firm worth $3 billion to fight climate change.
According to a New York Times report, the amount was donated to a specially designed trust and a nonprofit organization called the Patagonia Purpose Trust and the Holdfast Collective respectively.
In a letter published on the Patagonia website, Chouinard said that Earth is now the company’s only shareholder.
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