Here's your Forbes Daily Briefing for Tuesday, July 8th.

Today on Forbes, how the Justin Baldoni Blake lively saga led a billionaire to shut down his foundation.

All appeared normal at the Wayfarer Foundation in the weeks prior to its announcement they was shutting down.

The team was actively recruiting a grant

manager and summer interns. A new manager of growth in culture started in April. Employees

were planning events with Wayfarers' nonprofit grantees. Even its billionaire founder, Steve

Sauerwitz, was talking about a bright future, emailing grantees on April 9th, quote,

Though we're living in a time of profound change, the foundation remains committed to our mission.

Our work is only beginning, and we have much to do together.

Then, around 5.30 a.m. on Monday, April 28th, Saurwitz awoke to a dwindling fire in a trash can in the driveway of his home

in a Chicago suburb. He put it out with two water bottles, according to a fire department report.

Later that day, his wife received a text from an unknown sender, claiming to have helped

set the fire. The person threatened to kidnap the couple's daughter, a senior at Northwestern University,

writing that she wouldn't, quote, make graduation unless they forked over $80,000. This story was

confirmed by a Lake County State's Attorney's Office spokesperson. Referencing a claim in actress

Blake Lively's lawsuit against Sarowitz, his partner Justin Baldoni, and the film

studio they co-founded, Wayfarer Studio, the text said, quote,

If you guys are prepared to spend 100 million to ruin the lives of Ms. Lively and her family,

we are sure you can spare a few for your daughter.

The threats kept coming and became increasingly violent, per an indictment filed with the

19th Judicial Circuit Court of Illinois. By that Friday, Sarowitz had decided to shut down his

foundation. Hours after informing staff, he wrote on Facebook, Instagram, and LinkedIn,

...