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Eddie Smith Transfers Grady-White Shares to Charity Trust

8/18/2026

31 5 Full Breakdown

Summary

Story summary

Eddie Smith transferred all voting shares of Grady-White Boats to a perpetual purpose trust that will donate future profits to charity.
He rejected purchase offers exceeding $400 million to keep the company with its employees.
A newly created 501(c)(4) nonprofit will receive over 90 percent of the company’s profits forever.
Smith will receive no personal financial benefit from the trust arrangement.

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Story summary

Eddie Smith transferred all voting shares of Grady-White Boats to a perpetual purpose trust that will donate future profits to charity.
He rejected purchase offers exceeding $400 million to keep the company with its employees.
A newly created 501(c)(4) nonprofit will receive over 90 percent of the company’s profits forever.
Smith will receive no personal financial benefit from the trust arrangement.