November 16, 2025
By Alex Amouyel, President & CEO, Newman’s Own Foundation
“Over the next 20 years, an estimated $84 trillion will change hands in the U.S.; some call this the Great Wealth Transfer, others the Silver Tsunami. This wealth is held in cash and assets, but also in the estimated 2.9 million private U.S. businesses that are owned by those over 55. Many retiring business owners will look to sell their company to private equity or larger conglomerates, while others will pass their businesses on to their heirs.
A few are considering something more radical: giving their company away to good causes, like Paul Newman who gave his eponymous food company to Newman’s Own Foundation when he passed away in 2008. This idea remains radical enough that when 83-year-old Yvon Chouinard and his family announced that all of Patagonia’s future profits would go to fight climate change in September 2022, the New York Times devoted a full-page spread to the move. Now, there’s even a book dedicated to Patagonia and its transition.
100% for Purpose companies like Newman’s Own and Patagonia are still the exception, but there are more of us than you think: ticketing platform Humanitix, search engine Ecosia, browser Mozilla, consumer brands like The Good Store and Thankyou, and more. Former New York mayor Michael Bloomberg also announced plans to donate a controlling stake of his company to a trust that will continue to fund Bloomberg Philanthropies after his death.
As President and CEO of a 100% for Purpose organization, I’ve begun to hear more and more from businesses that are looking to follow in our footsteps.”
“Giving a business away is still considered a radical move, but it offers business owners, their employees, and their customers something a traditional sale never can: legacy.”
