News about Yvon Chouinard

On Friday, David Green, 80, released an op ed titled: "I made the decision to give up ownership of Hobby Lobby: I chose God." He did not reveal who or when he was going to hand over the company. Steve, David's younger brother, is the company president, while Mart, his elder son, is the "Ministry Investment Officer." 'As an owner, there are certain rights and obligations, including the right to sell the company and keep the proceeds for yourself and your family,' Green wrote on Friday. 'As our company expanded, the idea began to worry me more and more.' My children and grandchildren were essentially dependent on well-meaning attorneys and accountants. It didn't seem fair to me that I could alter or even ruin the future of grandchildren who had not even been born.'

Patagonia's founder, John Patagonia, has decided to hand over the company's control to a trust and non-profit that will put the proceeds raised for environmental causes. Yvon Chouinard, 83, 83 (pictured), said on Wednesday that rather than selling the company or making it public, he would transfer his family's ownership to the trust and a non-profit group. Chouinard became known for alpine climbs in Yosemite National Park, and the company's net worth has risen to $1.2 billion. 'Each year, the money we earned after reinvesting in the company will be split as a dividend to help combat the crisis,' he wrote in an open letter on the company's website. 'We're going to give the most amount of money to people who are actually working on saving this planet.'