Will and Jada Pinkett Smith’s Charity to Close After Oscars Slap: Donations Sink; Thousands Spent on Elusive Mental Health Orgs and Overdrawn Bank Fees (EXCLUSIVE)
variety.comWilliam Earl administrator The world of celebrity charitable foundations is big business, from old Hollywood stars like the late Paul Newman’s Newman’s Own Foundation donating hundreds of millions to charity via its food products, to young superstars like Olivia Rodrigo’s Fund 4 Good advocating for reproductive rights on her Guts World Tour.
It’s the perfect way for A-listers to spotlight their philanthropy, while their accounts make sure the generosity is accounted for and publicists can place items about caring clients.The Will And Jada Smith Family Foundation was the perfect outlet for the Hollywood power couple to advocate for the issues that mattered to them, including health and wellness, arts education and sustainability.
But Will’s image took a serious hit after he slapped Chris Rock at the 2022 Oscars. Tax filings show that after the incident, high-profile contributors that had given to the foundation in the past stopped, and the enterprise is in the process of shutting down for good.
According to tax records from the Will And Jada Smith Family Foundation reviewed by Variety (via ProPublica), the foundation’s revenue dropped from $1,760,000 in 2020 and $2,138,660 in 2021 to $365,870 in 2022.
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