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Patagonia founder just donated the entire company, worth $3 billion, to fight climate change

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Patagonia founder Yvonne Chouinard, his wife and two adult children are lending their ownership to the apparel maker he started nearly 50 years ago.

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The company’s non-voting stock, worth close to $3 billion 

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The company expects to contribute approximately $100 million per year depending on the health of the business.

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The company's stock will now be owned by a group of nonprofits and a climate-focused trust. 

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Every dollar not reinvested back into Patagonia will be distributed "to protect the planet," the company says. 

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The Holdfast Collective owns all the non-voting stock of Patagonia and will use it to create a permanent legal structure. 

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It will be overseen by members of the family and close advisors. 

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Ryan Gellert will continue to serve as Patagonia's CEO, and his family will remain on the company's board of directors. 

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