Have An Ethical Stance - Paul Newman

Paul Newman
Company: Newman’s Own
Net Worth: Unknown

Over his fifty plus year career, Paul Newman won Academy Awards, Golden Globe Awards, and Cannes Awards for his work both as an actor and film director. But, don’t think that was enough to tire this legend out. In his early 80’s Newman spent his time devoted to Newman’s Own, the company he first founded as a practical joke, which has today becoming a shining example of corporate philanthropy. It has given away over $200 million since its inception, making Newman a star both on screen and off.

“I have taken roads that I wished I had not traveled on,” says Newman. “And I’m traveling on some pretty exciting ones, too. Just hope when you get to that great racetrack in the sky that the balance will tip slightly into those things that you’d be proud of.” Newman had much to be proud of. Not only has he left a legacy of films that have forever changed the landscape of American cinema, but he has donated over $200 million from the profits of Newman’s Own to thousands of different charities. What were the factors that led to Newman’s success both on screen and off?

Advice For Entrepreneurs:

“The embarrassing thing is that the salad dressing is outgrossing my films. When I realised I was going to have to be a whore, to put my face on the label, I decided that the only way I could do it was to give away all the money we make. Over the years, that ethical stance has given us a 30 per cent boost. One in three customers buys my products because all the profits go to good causes and the rest buy the stuff because it is good.”