'Earth is now our only shareholder': Patagonia owner gives away fashion brand

The founder agreed to transfer all of Patagonia's voting shares in the company to a trust in charge of ensuring the brand's environmental values are respected. Photo: Instagram/Patagonia

The founder of fashion retailer Patagonia, known for his environmental stances, announced Wednesday (Sept 14) he has given away his company in an effort to do even more for the planet.

Yvon Chouinard, 83, could have sold the brand – valued at US$3bil (RM13.6bil), according to The New York Times – or taken it public.