Last month, Eddie Smith, owner of Grady-White Boats in Greenville, North Carolina, gained attention with a major announcement. He decided to pledge nearly all of his company’s future profits to charitable causes. Rather than selling the company, Smith opted to place it into a perpetual purpose trust. This trust will ensure the distribution of profits to various charitable efforts.

In a conversation with Liz Landers, Smith discussed his motivations and aspirations for encouraging others to adopt similar philanthropic strategies. Liz Landers, known for her role as a correspondent for PBS News Hour, covers topics including the White House and the Trump administration. Before her current position, she worked as the national security correspondent for Scripps News and also reported on disinformation issues.