Holdfast Collective owns 100 per cent of the non-voting stock of Patagonia which carries economic value but not decision-making authority. This move strips the family of most of its wealth but it retains full control of Patagonia’s future endeavours. The trust will guide the philanthropic work of Holdfast Collective. Second, it is unclear how exactly the Holdfast Collective will use the funds it receives. Such a rare, generous, gift of this magnitude is remarkable and should inspire other entrepreneurs as well as consumers.

Source: thestar October 15, 2022 11:47 UTC