Newman's Own Foundation invites companies to join its 100% for Purpose Club, donating all profits to charity.

Newman's Own Foundation, led by CEO Alex Amouyel, is inviting companies to join its 100% for Purpose Club, committing to donate all profits to social causes. This initiative celebrates what would have been founder Paul Newman's 100th birthday and follows the 2018 Philanthropic Enterprise Act, which allows foundations to own corporations if they donate all profits to charity. The foundation has already donated $600 million to charities, focusing on children's causes. Other companies like Humanitix have joined, aiming to shift the focus from shareholder wealth to social impact.

2 months ago
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