The founder of outdoor apparel maker Patagonia is donating his company to a greater cause: fighting climate change. Yvon Chouinard, the rock climber-turned-billionaire, and his family have transferred their ownership of Patagonia to the newly created Patagonia Purpose Trust and nonprofit Holdfast Collective. The company, which Chouinard founded in 1973, is worth $3 billion, according to the New York Times. "The Patagonia Purpose Trust ... exists to create a more permanent legal structure to enshrine Patagonia's purpose and values," the announcement reads. "Despite its immensity, the Earth's resources are not infinite, and it's clear we've exceeded its limits," Chouinard wrote on Wednesday.

---