hated being rich and gave away his $3 billion fortune, Yvon Chouinard describes himself as a “dirtbag,” a term among mountaineers that refers to someone who values their time more than money and spends most of that time climbing.
Yvon Chouinard's dream was never to become a billionaire: he preferred surfing or climbing rather than accumulating money.
However, doing what he was passionate about, he became wealthy with the outdoor clothing company Patagonia, which he founded with his wife in 1973.
His success put him on Forbes magazine's list of the world's richest people in 2017. Chouinard was extremely upset: for him, this was proof of his failure.
It was a sign that he had not fulfilled his mission to make the world a better and more just place.
The publication of the Forbes list made him look for the best way to use Patagonia to help the planet.
And in 2022 he announced that he would donate all Patagonia shares to the Holdfast Collective, a fund dedicated to protecting nature and combating environmental change.
Additionally, he created the Patagonia Purpose Trust, a foundation that continues to generate $100 million annually to care for the planet.
“Terra is now our sole shareholder,” Chouinard, 83, said in a message to employees and customers.
“Instead of ‘going public,’ you could say ‘we went public with a purpose.’ Instead of extracting value from nature and turning that into wealth for investors, we will use the wealth Patagonia creates to protect the source of all wealth.”
It was a sign that he had not fulfilled his mission to make the world a better and more just place.
The publication of the Forbes list made him look for the best way to use Patagonia to help the planet.
And in 2022 he announced that he would donate all Patagonia shares to the Holdfast Collective, a fund dedicated to protecting nature and combating environmental change.
Additionally, he created the Patagonia Purpose Trust, a foundation that continues to generate $100 million annually to care for the planet.
“Terra is now our sole shareholder,” Chouinard, 83, said in a message to employees and customers.
“Instead of ‘going public,’ you could say ‘we went public with a purpose.’ Instead of extracting value from nature and turning that into wealth for investors, we will use the wealth Patagonia creates to protect the source of all wealth.”
What path did Chouinard take to reach a destination so different from that of most entrepreneurs, a term that, by the way, he detests?
“I have been a businessman for almost 60 years. It is as difficult for me to say this as it is for someone to admit that they are an alcoholic or a lawyer,” he says.
The children made fun of his name, Yvon, because they thought it was a girl's name. That's why he preferred to be alone, outdoors.
In addition to being unpopular, he was not a good student. He spent his classes practicing holding his breath and training to dive on the weekends.
At 14, he joined a falconry club where, to track birds, they taught him how to climb.
He was fascinated and found his class.
At age 16, he drove 1,000 miles in a 1940 Ford he rebuilt himself in mechanics class to make his first solo attempt to summit Wyoming's tallest mountain.
After graduating from school, he worked as a private detective, as his older brother ran an agency.
One of his main clients was the eccentric Hollywood mogul Howard Hughes.
Chouinard had to follow Hughes's friends, keep his free yacht clean, and prevent bailiffs from serving him documents.
Chouinard spent all his free time climbing, surfing and innovating.
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