Story thread · 2 reports / 2 sources

Instead of selling his luxury boat company for millions, he invested in his employees

cbsnews.com · 11dShare

Eddie Smith, the owner of Grady-White Boats, could have sold his business for hundreds of millions of dollars. Instead, he decided to turn the company over to a charitable trust.

First report: He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead — fortune.com, 13d