Vail CEO pledges $30M for family foundation, adds racial justice focus

BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) CEO Rob Katz announced this month plans to donate nearly $30 million in proceeds from a stock sale to his family foundation, an organization that has begun to focus efforts on racial-justice initiatives. 

Katz exercised stock-appreciation rights that netted him 91,661 shares, which were valued at roughly $29.3 million when the rights were exercised, according to a Vail news release.

The Katz Amsterdam Foundation, supported by Katz and his wife, Elana Amsterdam, will offer funding for racial-justice and equity groups, including the Anti-Recidivism Coalition, the Community Justice Reform Coalition, and the Othering and Belonging Institute at UC Berkeley.

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“We launch this new national focus on racial justice with an understanding that there is much to learn from talented leaders and organizations who fight to make progress against injustices every day,” Katz said in a prepared statement. “We look forward to better understanding the challenges and inequities faced by so many and how we can best partner and support efforts to transform systems.”

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