Core Insights - Patagonia founder Yvon Chouinard expressed strong disdain for being labeled a billionaire, leading him to give away his fortune after being named on the Forbes billionaires list [2][4]. Company Overview - Patagonia was founded in 1973 by Yvon Chouinard, focusing on high-quality climbing gear and direct-to-consumer sales, which fostered a loyal customer base due to its commitment to sustainability [2][3]. - The company has been donating 1% of its annual sales to environmental causes since 1985, reflecting its deep commitment to sustainability [3]. Financial Context - By 2017, Patagonia had achieved significant success, generating hundreds of millions of dollars in annual revenue, which contributed to Chouinard's billionaire status [2][5]. - Chouinard's concern about the future of Patagonia led him to consider how to ensure the company's vision continued without being sold to a billionaire or private equity group, whom he did not trust [5].