The Will and Jada Smith Family Foundation will close after a severe donation drop.
According to The Independent, the pair launched the donation in 1996 to “improve lives and uplift humanity.”
The Foundation’s website revealed that it has invested millions of dollars and countless resources to accelerate the growth of initiatives that deepen empowerment.
However, Will Smith’s reputation has fallen since the infamous 2022 Oscars slap just before he won the Best Actor Academy Award.
Tax records revealed that the Foundation’s earnings fell from $2,138,660 in 2021 to only $365,870 in 2022.
This drop came after American Airlines and other significant contributors stopped donating to the Will and Jada Smith Family Foundation.
The Will and Jada Smith Family Foundation Was Already Winding Down

Variety revealed that a source claimed Will and Jada wanted to shut down the Foundation even before the Oscars slap.
The couple now want to contribute similar amounts to charitable causes through private avenues.
In a quote on the Foundation’s website, Will Smith revealed:
“I want to do good. I want the world to be better because I was here. I want my life, I want my work, my family, I want it to mean something. It’s like if you are not making someone else’s life better, then you’re wasting your time. Your life will become better by making other lives better.”
Shortly after the Oscars incident, Smith resigned from the Academy, which then banned him from the Oscars for the next decade.