Success is measured in an infinite number of ways. One of the biggest indicators of success, however, is the ability to give back to your community. Knowing this, the founders and former CEOs of Clif Bar recently donated a third of their net worth to charity.
Here’s the story of the energy bar philanthropists…
Clif Bar and Its Humble Beginnings
In 1990, after biking a 175-mile marathon, Gary Erikson was fed up with the tasteless energy bars sustaining him on his journey. As a former baker, he tried his hand at making his own version of the bars…
AND THUS CLIF BAR WAS BORN.
The energy bars, named after Erikson’s father, grew to become one of the most popular boosts that athletes of all kinds turned to.
Later, Kit Crawford married Erikson, and the two led the company as co-CEOs. The company kept on growing, leading to potential buy-outs, which they have all refused.
Until that is…
MONDELEZ, THE OWNER OF OREO, RITZ, AND CADBURY BOUGHT CLIF BAR IN 2022 FOR A WHOPPING $2.5 BILLION.
Erikson and Crawford had an 80% stake in the company, which left the two with over $1.5 billion once the sale was finalized.
Now, with this influx of new cash, the couple decided to take $555 million of it…
AND PUT IT INTO THE FOUNDATION THEY STARTED TOGETHER, THE CLIF FAMILY FOUNDATION
Beyond being CEOs of Clif Bar, Erikson and Crawford both sit on the board of directors.
The foundation has a very strong mission for what initiatives it aims to fund. In fact, the latest donation essentially multiplied the foundation’s current assets by ten…
From $500,000 to $551 million by the end of 2022.
Now the question remains…
What does the family plan to do with the donation?
Where Is The Donation Going?
Historically, Erikson and Crawford have donated on average $3 million a year to the foundation, for 16 years.
SEEMS LIKE MAKING CLIF BAR FOR ATHLETES REALLY PAID OFF…
But now, with a donation of this magnitude, speculators are wondering what the foundation’s plans are.
The Clif Family Foundation aims to uplift small and midsized grassroots organizations. The foundation prioritizes initiatives that deal with regenerative farming practices…
Climate justice…
Healthy living and outdoor activity…
And food safety.
Some of the past recipients of foundation grants have been:
- An Alaskan nonprofit keeping fish passages clean
- Community association working to resettle Somali refugees in Maine
- Tennis Player, Frances Tiafoe, received $100,000 to make tennis more accessible
Giving Back
While every foundation has a different purpose, what the founders of Clif Bar are doing sets an industry-wide standard for giving back.
It’s one thing to build a granola empire with the success of their original company, Clif Bar…
But to continuously exemplify generosity in every aspect is what sets these trailblazers apart.
Kit Crawford and Gary Erikson both know that giving back to the community is what takes pretty good business people…
And turns them into true givers.
Be Great,
GCTV Staff
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