New York Times: Sell the Company for $400 Million? He’s Giving It Away Instead.
Credit: Kate Medley for The New York Times
After his sole heir died, Eddie Smith, the owner of Grady-White Boats, looked for a way to pass on his legacy. He was inspired by Patagonia to pledge future profits to charity.
Eddie Smith Jr., chief executive emeritus of Grady-White Boats in Greenville, N.C., decided to give the company’s future profits to charitable causes.
Read the full story at The New York Times, and learn more about the Perpetual Purpose Trust here.