The Shake Shack IPO has received an extraordinary amount of attention today, not to mention analysis of what it means for the food industry, investors, etc. But one little-known aspect of the deal that’s been entirely overlooked may have the longest-term implications of all — not just for food but for philanthropy.
Several months ago an investor in the Union Square Hospitality Group transferred $1 million worth of his USHG stock to our anti-hunger organization, Share Our Strength, after making sure with the company that it was comfortable with a nonprofit holding its stock. It was the investor’s belief that its value could increase in ways that represent a greater return on investment than much of the fundraising we do.
…Both Meyer and Shake Shack CEO Randy Garutti have spoken of their desire to create a new kind of wealth called “community wealth” — that is, wealth that doesn’t just make individuals and corporations richer but makes communities stronger, healthier, and with more promising futures.
Just when we thought Shake Shack couldn’t taste any better, knowing this makes them even more delicious.