Will Smith and Jada Pinkett Smith‘s Will And Jada Smith Family Foundation will reportedly be shuttering its doors following a post-Oscars slap decline – though the shutdown was reportedly in the works before 2022 incident.
According to a report from Variety published on Tuesday (March 26), tax filings show that after the event, their revenue and donations dropped significantly – from $1.7 million in 2020 and $2.1 million in 2021 to a measly $366,000 in 2022.
A source told the publication that the couple was winding down the foundation, which they founded in 1996, before the Oscars slap. They’re now focusing more on giving the same amount to charitable causes privately and not through a foundation.
The source pointed to the fact that before the Oscars, the company lowered the payment of their only two staffers in 2021 and that as of 2022, no paid staff worked at the organization.
As widely reported, Will Smith infamously smacked Chris Rock on live television during the 94th Annual Academy Awards after he made a G.I. Jane joke about Jada Pinkett Smith’s bald head.
After issuing an apology and taking some time away from the spotlight, the superstar actor is back with a vengeance and just this week debuted the trailer for the forthcoming Bad Boys 4 with Martin Lawrence.
The trailer, which premiered on Tuesday (March 26), features the Fresh Prince rocking a white tux, Lawrence navigating a gun to his head, and Meek Mill and Drake‘s “Going Bad,” which soundtracks the teaser.
The film, officially titled Bad Boys: Ride or Die, is set to be released on June 7 courtesy of Sony Pictures.
The Oscar winner initially shared news of the movie in January 2023, posting a video on social media where he yelled, “It’s about that time!” as he pulled up to Martin Lawrence’s house while blasting Nelly, Diddy, and Murphy Lee’s “Shake Ya Tailfeather” from the Bad Boys II soundtrack.
“It’s about that time. It’s official. Bad Boys for life,” Smith emphatically stated, before he and Lawrence both realized 2020’s installment already used that title for the movie. “We shouldn’t have called it that, though. The three was the ‘E’ but this is Bad Boys 4.”
