Sell the Company for $400 Million? He’s Giving It Away Instead.

Eddie Smith, the owner of Grady-White Boats, has decided to give away his company instead of selling it for $400 million. Following the death of his sole heir, Smith sought a way to leave a lasting legacy. He drew inspiration from Patagonia's philanthropic model and plans to pledge future profits to charity. By doing so, Smith aims to create a lasting impact through his company's continued success.

✦ AI-generated summary