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

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• u/ArgentineBeauty·63·1 ago 2026, 14:52

  Proper legend move. Turning down $400 million to give it to charity is incredible.

  • u/Doro_Gurl·1·1 ago 2026, 15:19

    One of the sane people who know they can't take it with them.

• u/Thundahcaxzd·9·1 ago 2026, 14:54

  How can you give away something that you turned down

  • u/KirbyPerkins·53·1 ago 2026, 14:57

    Imagine if there were an article or something describing the situation in more detail.. he turned down the money offered for the company and ‘gave away’ the company instead

    • u/NateHatred·1·1 ago 2026, 15:12·1 respuesta

    • u/EggheadWill·1·1 ago 2026, 15:13·2 respuestas

    • u/General-Piece8490·1·1 ago 2026, 15:15

    • u/Hot-Comfort8839·1·1 ago 2026, 15:27

  • u/berrylakin·1·1 ago 2026, 15:14

    I took it as he donated the boat company to the charity. Free boats for the poor.

  • u/throughtheportal·1·1 ago 2026, 15:21

    He transferred the company into a perpetual purpose trust. He is “giving” profits to charities. The company will still function as is.

• u/Ironsam811·104·1 ago 2026, 15:02

  He lost his son and only heir a few years ago. Kinda sad imo, I’m happy that experience didn’t make rotten though

• u/throughtheportal·1·1 ago 2026, 15:09

  Private Equity in the US right now:

  • u/Solomon_Grungy·1·1 ago 2026, 15:12

    The charity can turn around and sell it off after he dies.

    • u/throughtheportal·1·1 ago 2026, 15:20

  • u/Mnm0602·1·1 ago 2026, 15:18

    They’re busy trying to think through how they can do the same thing to dodge taxes while nominally generating good PR. Not that this guy is doing it for that reason but they certainly think about it that way.

    • u/throughtheportal·1·1 ago 2026, 15:25

    • u/Hot-Comfort8839·1·1 ago 2026, 15:26

  • u/[deleted]·1·1 ago 2026, 18:38

    [removed]

• u/General-Piece8490·1·1 ago 2026, 15:12

  If someone doesn’t have the drive like him that company will go under. It’s hard to manage anything by committee much less a boat builder company. I am afraid Grady will go under and be sold to an investor. Charities suck at managing money making enterprises.

  • u/Mnm0602·1·1 ago 2026, 15:20

    Bosch seems to have struck a balance so it’s not guaranteed to fail. Grady has kept a pretty strong reputation for quality over the years so hopefully they focus there. They aren’t cheap.

  • u/oboshoe·1·1 ago 2026, 19:01

    rolex is doing pretty well

• u/Hot-Comfort8839·1·1 ago 2026, 15:26

  Transferred to a perpetual trust - family run. Not exactly charity. More of a way to preserve assets under the guise of charity ... occasionally they'll do charitable acts... Think of it like the trump foundation.

  • u/spittlbm·1·1 ago 2026, 15:32

    Not family run. That's sort of the point. Profits are required to be distributed to charity. Employees have on-site Healthcare. You should read the article.

  • u/oboshoe·1·1 ago 2026, 19:00

    it's still far far more then the average angry redditor does

• u/spittlbm·1·1 ago 2026, 15:30

  I bought my last car in Greenville, NC. I had no idea this was there. Such a good thing for this rural town!

• u/superhappymegagogo·1·1 ago 2026, 15:57

  The name of the boat company is Grady-White Boats. If you're in the market.

• u/UDPviper·1·1 ago 2026, 16:25

  I mean, you could always keep 100 million and give 300 million to charity. But maybe that's a horrible thing these days.

• u/PckMan·1·1 ago 2026, 16:26

  I want to believe that he's a good man trying to do the right thing. But even though I'm not versed into corpo structures that much I can't help but feel that once he's gone there are absolutely people out there who have a way to destroy it to pick the bones and profit from it.

  • u/Victori82·1·1 ago 2026, 17:11

    I believe he said it was all put into a trust, so that it cannot be touched even after he passes.

    • u/PckMan·1·1 ago 2026, 17:12·1 respuesta

  • u/oboshoe·1·1 ago 2026, 17:43

    fortunately he wasn't trying to impress random anonymous redditors. he built something over a lifetime and now at 83 he made the the decision he believes is best

    • u/PckMan·1·1 ago 2026, 18:25

    • u/PckMan·1·1 ago 2026, 18:25·1 respuesta

• u/jest4fun·1·1 ago 2026, 16:40

  NC rez & life long boater gere:  Grady White makes some of the best boats on the water.  Have seen them everywhere from Puget Sound to Puerto Rico & beyond.

• u/Livid-Writer-7741·1·1 ago 2026, 17:03

  TAX THE RICH AND CHURCHES AND PEDOPHILES

• u/f3nnies·1·1 ago 2026, 17:49

  Finish the sentence from the article. "... gave up golf for decades, and poured his life savings into keeping the business afloat." Independently wealthy man chooses to work doing something he likes that makes him even richer.

• u/GeniusEE·1·1 ago 2026, 18:43

• u/TickingTheMoments·1·1 ago 2026, 18:46

  I applaud him for his choice. Im wondering what he has done for the employees. Has he set up a non profit ensuring the people who worked for him and toiled away their lives and those if the future who will keep the company sailing smoothly sail smoothly as well?