Business Owners Giving Away Companies for Good

Business leaders are embracing a new trend: giving away their companies for good. Instead of selling to the highest bidder, theyre transferring ownership to foundations, nonprofits, or employees. This generosity exit allows owners to create a philanthropic annuity, preserving company culture and jobs. With millions of U.S. businesses owned by individuals over fifty-five, this approach could reshape business exits, focusing on purpose and legacy. New models like the Philanthropic Enterprise Act and ESOPs facilitate these transitions, ensuring a companys mission and values endure long after its founder has stepped away.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.