Not just privately owned, but given away irrevocably by said owner to charity, and done in a way that intentionally incurred a large tax bill.
https://www.nytimes.com/2022/09/14/climate/patagonia-climate...
https://www.nytimes.com/2022/09/14/climate/patagonia-climate...
https://qz.com/patagonia-s-3-billion-corporate-gift-is-also-...
That NYT piece is, more or less, a fluff piece; and, it's also worth noting, this same maneuver is frequently used in ways that are probably seen less "charitably," given the political influence 501(c)(4)s' potentially wield.
This was very obviously not done "for pure personal financial gain..." But should billionaires be able to donate billions, tax-free, to exert political influence, which, generally (though, with rare exceptions, like perhaps Chouinard), they will use to directly benefit themselves and their family? And, should they be able to do so in a way that maintains that political influence for their family for generations to come?
Maybe Chouinard and his family have good intentions, but, like the article said, "one doesn’t want a constructed tax system predicated upon everyone being like the Chouinards."
Chouinard's goal was for his mission (the raison d'etre for Patagonia – to make high quality goods for outdoor activities, and to use the profits from this venture to protect outdoor spaces) to outlive his personal stewardship of Patagonia's control.
When that's your goal, the set of options available is rather narrow. You have to pass on control to people you trust, whom you've developed strong relationships with, and whom you trust to evolve and pass that mission down to the next generation. Most importantly, you want to avoid the kind of grifters that Patagonia has been allergic to in its history.
Plus, Patagonia already has a rich synergistic history of funding activism. It's not at all comparable to Gates, Carnegie, or Rockefeller who made their money and decided what "good" to spend it on in two discrete steps. For Patagonia, the most important thing is effective stewardship over an already-sailing ship
Chouinard has written a lot of material that you can read for yourself and form your own opinion on. He's remarkably direct and transparent, there aren't really smoke and mirrors to navigate.
That being said, anything he does with his "wealth" (itself an absurd idea, as he would never liquidate Patagonia shares and still never has) is going to rhyme with what other powerful people do with their wealth. You have to judge the people, not just the structures they're working within.
Seriously- I’ve had my eye on a Patagonia black hole duffle and now I’ll pull the trigger.
- The guy who now has too many nanopuff jackets, but I will die on this hill.