Wednesday, June 19, 2024

Will Smith Empties Personal Foundation Down to $22k in Assets


Is Will Smith getting out of the charity business? First he shut down his private school in Calabasas, California, leaving it $307,000 in the red. Now his personal foundation has been emptied out, with total assets at the end of 2012 coming to just $22,000. The numbers come from the new form 990 found on Guidestar and filed by the Will Smith Foundation for the year 2012.

Smith didn’t drain out his foundation without distributing a very robust $375,000 in 2012 to a variety of charities. Most of them are in the Philadelphia-Baltimore area and many of them are arts oriented. If he’s giving money to Scientology-connected groups Smith no long does it through the Will Smith Foundation. It was too easily tracked. He could just be writing them checks. That’s the way Tom Cruise does it.

Is that the end of the Will Smith Foundation? That’s unknown. But Smith hasn’t had a hit movie in a long time. This past summer his “After Earth” was a total bust. On a nice note, I can tell you that Will threw a little cocktail party the other night here in New York for his “Focus” co-star Margot Robbie before and she and her family friends headed off to the premiere of ‘The Wolf of Wall Street.”



Roger Friedman
Roger Friedman
Roger Friedman began his Showbiz411 column in April 2009 after 10 years with Fox News, where he created the Fox411 column. His movie reviews are carried by Rotten Tomatoes, and he is a member of both the movie and TV branches of the Critics Choice Awards. His articles have appeared in dozens of publications over the years including New York Magazine, where he wrote the Intelligencer column in the mid 90s and covered the OJ Simpson trial, and Fox News (when it wasn't so crazy) where he covered Michael Jackson. He is also the writer and co-producer of "Only the Strong Survive," a selection of the Cannes, Sundance, and Telluride Film festivals, directed by DA Pennebaker and Chris Hegedus.

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