Kit Crawford and Gary Erickson, the California couple who sold their energy bar company for nearly $3 billion in 2022, have already donated to over 1,000 nonprofits. They have donated to organizations helping Somali refugees and working to keep Alaska’s waters clear for fish. The couple has donated over a third of their fortune to their charitable foundation, the Clif Family Foundation, according to new reporting by Forbes.
Gary Erickson, the former baker and avid adventurer who first came up with the idea for Clif Bar in 1990, launched the company two years later. His wife, Kit Crawford, joined as one of the earliest employees in 1984 and eventually ran the company with him as co-CEO. Despite initially rebuffing buyout offers, Erickson and Crawford eventually sold Clif Bar to snack giant Mondelez for $2.9 billion in 2022, netting over $1.5 billion after taxes. The other 20% of the company was owned by employees through a stock ownership program.
After the sale, Erickson and Crawford donated $555 million to their charitable foundation, dramatically increasing its assets from $510,000 to $551 million by the end of 2022. The Clif Family Foundation, which focuses on supporting small-to-midsized grassroots groups, has donated nearly $3 million per year to various causes. The couple has remained low profile since the sale, and have not responded to requests for comment from Forbes.
The foundation’s donations have reached a wide range of organizations, from nonprofits in Haines, Alaska working to protect fish passages to community associations assisting Somali refugees in Maine. Erickson has also supported high school mountain biking programs and the National Interscholastic Cycling Association. Their long-term vision and commitment to causes they believe in have helped fund various initiatives and programs across the country.
In addition to their philanthropy, the couple is also involved in their farm and winery, where they produce wine, savory nuts, and artisanal jellies. They also run White Road Investments, a mission-driven private equity firm that has backed nearly 30 companies to date. Investments include plant-based energy drink maker Guayaki Yerba Mate, bike and skateboard helmet manufacturer Thousand, and sports-focused digital media company Outside.
The Clif Family Foundation’s recent large donation raises questions about their future plans. It is unclear whether they will continue their current strategy of making small donations to a large number of nonprofits or shift towards making larger contributions to a select group. Their commitment to supporting causes they believe in, combined with their successful business ventures and philanthropic efforts, highlight Kit Crawford and Gary Erickson as influential figures in both the business and charitable sectors.
