snowdeal.org > ex machina: purportedly ailing newman gave $120M to newman's own? or sold his ownership?

ex machina

purportedly ailing newman gave $120M to newman's own? or sold his ownership?

we like newman's own products, so we were interested to see that paul newman recently donated $120M to the brand which happens to equal the value of his ownership:

"Completed over a two-year period in 2005 and 2006, the amount of his donations to Newman's Own Foundation Inc. comes to an astounding $120 million.

but, then again, the article confuses things by seeming to indicate that he sold his ownership:

"Movie star Paul Newman has quietly turned over the entire value of his ownership in Newman's Own..."

huh? is it just me, or do those two sentences imply two very different things.

perhaps coincidentally, newman's longtime friend and business partner has stated media reports misquoted him as saying the Hollywood film icon is battling cancer.

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6/13/2008 10:33:00 PM 1 comments

1 Comments:

It sounds to me like he donated $120 million to the Foundation and that amount happens to be the equivalent of his ownership in the Newman's company. He hasn't given up his shares in the company, I don't think.

By Anonymous, at 3:54 AM

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