Internet scoffs at Will Smith and Jada Pinkett Smith as their charity is set to stop after Oscars slap

LOS ANGELES, CALIFORNIA: Will Smith and Jada Pinket Smith are reportedly closing down their Will And Jada Smith Family Foundation after a drop in donations.

The foundation as per Variety has taken a hit following the 2022 Chris Rock Oscars slap.

High-profile contributors bailed out from the Will And Jada Smith Family Foundation

According to the tax filings cited by the outlet, high-profile contributors like CAA and American Airlines stopped donating leading to the eminent closure anytime soon. 

The foundation’s revenue dropped from $1,760,000 in 2020 and $2,138,660 in 2021 to $365,870 in 2022.

It attributed the 83 percent drop in revenues to the departure of American Airlines, which donated $76,160 in 2021, and CAA, which contributed $100,000 in 2021.

The Will And Jada Smith Family Foundation was established in 1996

Sources told the publication the foundation which began operation in 1996 was winding up, and the couple has decided.

They are concentrating more on making discreet donations of the same amount to charity organizations, according to the report. 

The Will and Jada Smith Family Foundation made financial contributions to well-known organizations in 2022, including $2,500 to Big Brothers Big Sisters and $100,000 to the American Film Institute.

Additionally, the foundation sent money to Rebecoming and the World Rebirth Foundation, two much smaller organizations.

The decline in staffing also indicates the Smith family is moving away from the foundation 

The publication reported that the Will And Jada Smith Family Foundation in 2022 had an office expenditure of a whopping $3,304 in “bank overdrawn” fees.

However, according to the source, the "decline in the staffing" was evidence "of the family moving away from the organization."

It said the foundation cut the wages of its two employees in 2021, and as of 2022, it had no salaried employees.

Moreover, the social media accounts of the foundation like Instagram have also not been updated since 2022. 

Will Smith still making a fortune with his acting roles 

Will Smith has at least 4 active projects in pre-production as per TMZ.

These include the highly-anticipated 'I Am Legend' sequel, and he's reunited with Martin Lawrence for the fourth 'Bad Boys' film, which will come out this summer.

Smith is also making his $25 million on both the upcoming sequel 'Bad Boys 4' and Netflix’s 'Fast and Loose'.

Jada Pinkett and Will Smith's relationship was under negative spotlight 

Last year, Jada while promoting her memoir 'Worthy' said she made some revelation which put the pair under negative spotlight. 

She said she and Will were on a path to reconciliation following years of leading separate lives, and even living in separate homes which came as a shock to many.

She also detailed Will Smith's slap to Chris Rock, saying, “I was like, 'There's no way that Will hit him.' It wasn't until Will started to walk back to his chair that I even realized it wasn't a skit,” as per People.

Jada also revealed that Chris Rock has asked her for a date at one point in time.

What the Internet has to say on Will And Jada Smith Family Foundation's impending closure

Meanwhile, there were reactions to the news on the internet, 'I'm so disappointed in these two. They were once among my favorite actors and actresses," wrote one on X.

One more wrote, "It would be ok for them to shut down too," with another adding, "Simping is bad."

"Seems like Jada's charity is calling it quits - probably realized it's tough to change the world when you're busy navigating entanglements and keeping up with the Kardashians!" one commented, another added, "LOSERS."

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.​