Patagonia's website now reads, "Earth is now our only shareholder." Yvon Chouinard, who started the outdoor apparel brand almost 50 years ago, 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." The company itself will continue to be a for-profit business, a certified B Corp and a California benefit corporation. But every year, after first reinvesting in the company, all the money Patagonia makes will be given to Holdfast Collective to help fight the climate crisis, the company says. "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," Chouinard wrote in a Wednesday letter. "We can save our planet if we commit to it." Visit the link in bio for more details.