Perpetual-purpose trust: put voting control in a trust whose deed binds the company to its mission
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Split voting from economic rights: put voting stock in an irrevocable purpose trust whose deed binds the company to its mission, and give non-voting economic stock to a mission nonprofit so profits fund the cause. The company stays for-profit but can never be sold away from its p
Ventura, California, USA
SuccessPatagonia, Inc. (Yvon Chouinard and family) · since 2022 · Global
On 14 September 2022, the Chouinard family transferred 100% of Patagonia into two new entities, splitting control from economics. The Patagonia Purpose Trust received all voting stock (2% of total shares) via an irr…
Voting stock placed in Patagonia Purpose Trustfamily-owned → 100% of voting stock (2% of total shares)% voting
Economic stock given to Holdfast Collectivefamily-owned → 98% of total shares (all non-voting)% economic
Company profits distributed as annual dividend to the Holdfast Collective · 3 sources