What do they do with it? Well, let's see what they don't do with it.
They don't use it for hospitals or any kind of humanitarian aid.
They do have "Disaster" efforts, but really the money is raised by the JW's
involved at the time of the disaster. They certainly don't have any programs
for glasses for children or shelters for battered women (which they probably
need big time). They totally rely on governments and Christendom to
provide all those things.
They don't use the money to really "advertise" the kingdom that could save
billions of lives. They don't send elders to real schools or experts that could
teach professional techniques for counseling depressed and disturbed ones.
They DO pay too much to their Regional Building Contractors and other
suppliers. That's a way of sharing their wealth with their loyal ones. They
have spent quite a bit on presses to be used in various branches. They use
JW realtors and JW lawyers for many transactions, probably overpaying them.
They fight many lawsuits. The lawyers probably save more than they cost.
Just a guess, but I think the money is heavily invested in stocks or something
because these guys act so paranoid. They are worried that the whole thing is
going to end one day and they want to be ready to bail out. I don't think the GB
will get out with any of it, but rather the businessmen and lawyers will.