With many deep pocketed philanthropists getting hammered in the economy, many charities are worried that donations will dry up. Well one charity will be in better shape than most.
The New York Times took a look at Paul Newman’s will and found that the talented actor left behind a charitable legacy for his foundation.
City Room: The Oscar he won late in his career for “The colour of Money” and other theatrical prizes went to his charitable foundation, as did his stake in the food company that bears his name. His race cars and aircraft are headed to the auction block, with proceeds going to a trust he created. And his farmhouse in Westport and personal effects were bestowed upon his wife, listed as Joanne Woodward Newman in the file.
Other business assets, like his stake in several production companies, went to trusts that benefit his wife, while his intellectual property rights were given to the charitable foundation, the Newman’s Own Foundation, which already gives away money he made selling salad dressing, popcorn and other food under the “Newman’s Own” brand.
And Newman had the foresight to make sure his visage wouldn’t be reanimated or recreated to hawk crap in the future.
Though he gave his executors latitude in administering his assets, he did urge vigilance in protecting his image and intellectual property rights to prevent uses he “did not approve during my lifetime.” Likewise, he asked that his likeness never be used to promote foods that are of lesser quality than Newman’s Own current roster.
…Mr. Newman, who was 83 when he died on Sept. 27 at his home in Westport after a battle with cancer, seemed aware during the will’s drafting that he was among those celebrities the public may be unwilling to relinquish, and that someone in the future might try to manipulate images of him to create performances that had never occurred.
So the will makes plain that he would want nothing to do with any “virtual performance or reanimation of any performance by me by the use of any technique, technology or medium now in existence or which may be known or created in the future anywhere in the universe.”
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