GoPro CEO Donates Shares Worth $450 Million To Start New Charity
October 3, 2014
GoPro is a company that makes portable camera equiptment. The CEO just announced a donation of 5.8 million company shares to help launch a new charity.
Nicholas Woodman and his wife, Jill, said in a statement on Wednesday that they’ll make the contribution, worth $450 million, according to CNN Money, to start their eponymous organization, Jill + Nicholas Woodman Foundation.
Though the gesture was generous, Investors in the company were upset because the move caused shares to plummet 7 percent.
"We wake up every morning grateful for the opportunities life has given us," Nicholas and Jill Woodman said in a joint statement. "We hope to return the favor as best we can."