Will Smith, Jada Pinkett Smith’s Charity Shutting Down
The Impact of the Oscars Slap on Will & Jada’s Foundation
Will Smith and Jada Pinkett Smith have made the difficult decision to shut down their charitable foundation, the Will And Jada Smith Family Foundation. The foundation has experienced a significant decrease in donations, partly due to the fallout from Will’s infamous Oscars slap.
According to Variety, major donors such as CAA and American Airlines withdrew their support after the incident at the 2022 Academy Awards. As a result, the foundation’s tax filings reveal a dramatic drop in funding, from over $2 million in 2021 to less than $400,000 in 2022.
While the Oscars slap may have played a role, it is important to note that the Smiths had been considering closing the foundation even before the incident. They had expressed a desire to focus on making private charitable donations instead.
Additionally, there have been some concerning financial transactions associated with the foundation. Reports indicate that it accrued $3,000 in bank overdraft fees and donated over $25,000 to seemingly defunct mental health organizations. Furthermore, as of 2022, there were no paid staffers supporting the foundation.
Interestingly, despite the challenges faced by their foundation, Will Smith’s career has managed to weather the storm of backlash. He currently has multiple projects in the works, including the highly-anticipated “I Am Legend” sequel. Moreover, he has reunited with Martin Lawrence for the fourth installment of the ‘Bad Boys’ film series, set to be released this summer.
On a personal level, the Smiths have spoken openly about their journey towards reconciliation. Last year, Jada shared during the promotion of her memoir that she and Will were working on rebuilding their relationship after years of living separate lives and even residing in different homes.
So, while the news of their foundation shutting down is unfortunate, it is not all doom and gloom for the Smiths. They are finding success in their respective careers and are focused on their personal journey towards reconciliation.
