Ailing Newman Gives $120M Company to Charity

Reports say movie legend dying of lung cancer
By Peter Fearon,  Newser Staff
Posted Jun 11, 2008 3:29 AM CDT
Paul Newman looks gaunt as he watches practice for the Indianapolis 500 auto race in May.   (AP Photo/Darron Cummings)
camera-icon View 2 more images

(Newser) – Movie legend Paul Newman has quietly turned over his ownership of Newman's Own cookies and salad dressing company—worth $120 million—to his charitable foundation, which helps ill and impoverished kids, reports Fox TV. News of the gift comes amid reports the gaunt 83-year-old star is dying of lung cancer; asked about his health, the former chain-smoker told Reuters, through a spokesman, he's "doing nicely." (Read more Paul Newman stories.)