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In 2022, Patagonia outdoors-wear brand owner and self-described socialist Yvon Chouinard and his family transferred ownership of the company to Holdfast Collective, an LLC that controls 98 percent of the shares, and the Patagonia Purpose Trust, an entity that holds two percent of the shares and allows Chouinard’s family to retain effective control of Patagonia. Holdfast Collective was announced as an environmentalist project, with Chouinard claiming, “Earth is now [Patagonia’s] only shareholder.” But Americans for Public Trust found something curious in some FEC filings: Holdfast Collective is using some nonprofit groups it created and manages Arabella Advisors-style to make contributions to Democratic Super PACs, and the paperwork is questionable. Here to explain is Caitlin Southerland, the executive director of Americans for Public Trust, which filed a complaint asking the Federal Elections Commission to investigate.
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Major outdoor clothing company quietly operating liberal dark money group hit with FEC complaint
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