Vail Resorts has announced that chair and CEO Rob Katz and his wife, Elana Amsterdam, have donated shares of stock worth $29.3 million to the family's charitable trust and the Katz Amsterdam Foundation.

Established in 2016, the foundation, which has primarily supported behavioral health initiatives, also announced the launch of a new racial justice focus area and awarded inaugural grants totaling $2 million in support of ongoing efforts to advance social and racial justice, "create proximity to lived experiences of others," and build networks of BIPOC leadership. Recipients include the Anti-Recidivism Coalition ($500,000), Community Justice Reform Coalition ($250,000), and the Othering and Belonging Institute at the University of California, Berkeley ($250,000). The grants also included $1 million in support of five state-based organizations working to engage and empower marginalized communities and communities of color: America Votes ($500,000), Mi Familia Vota ($250,000), You Can Vote ($100,000), the Transformative Justice Coalition ($100,000), and Protect the Sacred ($50,000).

"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," said Katz. "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."