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

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.