Instead of selling, business owner donates company to trust for charity
Last month, Eddie Smith, the owner of Grady-White Boats in Greenville, North Carolina, made waves when he announced that he was pledging nearly all his company's future profits to charity. Instead of selling Grady-White, Smith chose to gift it to a perpetual purpose trust that will distribute profits to causes.
Reported by 1 outlet — PBS NewsHour. See all sources ↓
Last month, Eddie Smith, the owner of Grady-White Boats in Greenville, North Carolina, made waves when he announced that he was pledging nearly all his company's future profits to charity. Instead of selling Grady-White, Smith chose to gift it to a perpetual purpose trust that will distribute profits to causes. Liz Landers spoke with him about the decision and why he hopes others will follow suit. Liz Landers is a correspondent for PBS News Hour, where she covers the White House and the Trump administration.
Read the full report at PBS NewsHour ↗
Why it matters
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- What's the story?
- Last month, Eddie Smith, the owner of Grady-White Boats in Greenville, North Carolina, made waves when he announced that he was pledging nearly all his company's future profits to charity. Instead of selling Grady-White, Smith chose to gift it to a perpetual purpose trust that will distribute profits to causes.
- How widely is it covered?
- 1 outlet, average source rating 8.0/10.
- When was it last updated?
- 14m ago.
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Instead of selling, business owner donates company to trust for charity
Sources1TypeCoveragePBS NewsHour