Dossier
Grady-White Boats
Coverage of Grady-White Boats in the Nexus archive.
- Instead of selling his luxury boat company for millions, he invested in his employees
Eddie Smith, the owner of Grady-White Boats, chose to transfer his company to a charitable trust instead of selling it for hundreds of millions of dollars.
- 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
Eddie Smith Jr. transformed Grady-White Boats from a near-bankrupt company into a multimillion-dollar business over 58 years, working 100-hour weeks and sacrificing personal time. At 83, he rejected a $400 million offer for the company and donated its future profits to charity via a trust and nonprofit structure inspired by Patagonia's founder Yvon Chouinard.
- Sell the company for $400 million? He’s giving it away instead.
Eddie Smith Jr. purchased Grady-White Boats in 1968 when it was struggling. Instead of selling the company for $400 million, he is giving it away.