What Is Yvon Chouinard's Net Worth?
Yvon Chouinard is an American rock climber and outdoor equipment manufacturer with an estimated net worth of $100 million. He is the founder of Patagonia, a company renowned for its environmentally-friendly outdoor clothing and gear. Despite being a billionaire on paper, Yvon has been described as the world's most "reluctant" billionaire. Patagonia, valued at $3 billion, generates around $1 billion in annual retail revenue and $100 million in profits.
In a surprising move in August 2022, Yvon and his family donated 98% of Patagonia's private shares to a non-profit, the Holdfast Collective, which will use the company's profits to fight climate change.
Yvon also founded Chouinard Equipment, Ltd., and has been an avid rock climber throughout his life, with significant climbs in Pakistan and the European Alps.
The History of Patagonia
Yvon founded Patagonia in 1973 to create clothing able to endure the harsh conditions of South America. The company saw rapid growth, reaching $20 million in sales by 1985 and $100 million by 1990. Remarkably, Patagonia spends only 0.5% of its sales on advertising and donates 10% of its pretax profits to environmental charities each year.
Yvon has published several books, including "Climbing Ice" (1978) and "Let My People Go Surfing" (2005), and produced documentaries like "DamNation" (2014) and "Public Trust" (2020).
Early Life
Yvon Chouinard was born on November 9, 1938, in Lewiston, Maine. His French-Canadian father worked as a mechanic, handyman, and plumber. The family moved to Southern California in 1947. During his youth, Yvon joined the Sierra Club and founded the Southern California Falconry Club. He started rock climbing at 14 while investigating falcon aeries and, in 1957, taught himself blacksmithing to make his climbing tools, leading to the founding of Chouinard Equipment, Ltd.
Career
Yvon was central to the "Golden Age of Yosemite Climbing," as depicted in the 2014 documentary "Valley Uprising." He achieved several first ascents, including those on Mount Sir Donald's North Face and Mount Edith Cavell's North Face. Yvon introduced revolutionary climbing gear like chrome-molybdenum steel pitons in the early '60s, later transitioning to "clean climbing" equipment like aluminum chockstones to minimize environmental impact.
Chouinard Equipment, Ltd. filed for bankruptcy protection in 1989, only to be reestablished by former employees as Black Diamond Equipment, Ltd.
During a 1970 trip to Scotland, Yvon purchased rugby shirts that he popularized among climbers for their durability and neck protection. By 1972, Chouinard Equipment, Ltd. was selling rugby shirts alongside its climbing gear. Patagonia's product line soon expanded to include Stand-Up shorts, pile jackets, and sportswear. Committed to worker welfare, Patagonia opened an on-site cafeteria and childcare in the 1980s. In 1996, Patagonia switched to using solely organic cotton to minimize its environmental footprint despite initial customer dissatisfaction.
In 2002, Yvon founded 1% for the Planet, an organization that encourages businesses to donate 1% of annual sales to environmental causes. Over 5,000 members have joined the effort to promote a healthier planet.
Personal Life
Yvon married Malinda Pennoyer in 1971, and they have two children, Claire and Fletcher. The family splits their time between Ventura, California, and Wyoming. Beyond rock climbing, Yvon enjoys surfing, fishing, kayaking, and writing.
Awards and Honors
Yvon received the Inamori Ethics Prize in 2013 for his ethical business approach and corporate social responsibility. In 2018, the Sierra Club awarded him the John Muir Award. He also received an honorary degree from Bates College in 2021.
