the Mormon Church has $70,000,000,000

by neat blue dog 17 Replies latest watchtower scandals

  • neat blue dog
    neat blue dog

    https://www.sltrib.com/religion/2020/03/07/lds-church-discloses/

    It turns out the LDS church has about $38b in stocks and mutual funds from major companies such as Apple, Microsoft, Amazon, Walmart and others. They also have numerous dummy corporations to hold assests with a combined value of $32b. That's about $70 billion, with a "b", not counting all their property.

    Makes me wonder if the wealth of the WTS hasn't been severely underestimated? If so, then all these lawsuits won't make a real dent. Unless they aren't as good at investing as Mormons. Have there been any concrete leaks to show the actual value of WT holdings, both in stock and banks?

  • Finkelstein
    Finkelstein

    Since they are based in the US they probably don't pay any tax on those investments.

  • Finkelstein
    Finkelstein

    The WTS always portrays that they run on a slim margin, in reality it doesn't when you combine all the attached corporations together .

  • slimboyfat
    slimboyfat
    The Mormon Church is much wealthier than Watchtower for a number of reasons.
    1.They tithe their members. This means that to be in good standing, or to get a temple recommend, you must provide evidence of giving a tenth of your income to the church.
    2. Mormons value education, professional careers, and celebrate success, and are thus much wealthier than JWs.
    3. Watchtower got complacent because they had a steady source of income from book and magazine publishing until the 1990s. When that income dried up they had to fall back on donations, but since JWs are not as wealthy as Mormons, and not in the habit of contributing significant amounts to their church (apart from for the literature) donations are at a much lower level.
    4. Mormons are more business savvy because they don’t eschew politics or big business the way JWs do. Many prominent Mormons are also businessmen and politicians themselves, and know how to play the system and are in a different league from JWs when it comes to investing their capital.
    You can see this in Britain for example, where there are fewer active Mormons than JWs, yet contributions to their main charity is higher than for Watchtower and the IBSA in Britain. In the US the disparity between the two is bound to much greater, because there are more Mormons, and the gap in wealth between the memberships of the two groups is likely to be greater.
    Watchtower may have made $2 or 3 billion from the sale of property over the past few years, but they have annual running costs somewhere in the region $1 and 2 billion. I doubt they have much money in cash or investments at all, apart from the property they still hold.


  • neat blue dog
    neat blue dog

    Those are excellent points SBF that throw a whole different light on it, thanks.

    Still I wish there were some more concrete recent records of WTs stock holdings.

  • caves
    caves

    The WTS has plenty of money. More than just a few billion. Once you start digging you find many millions here, many millions there . Investments in tobacco, tires, medical equipment, military, technology, JPMorgan, and so much more. Tobacco and military alone would put them in the billions. Add tech and JP plus whatever else and they won't be going broke anytime soon. Things that can easily stay tied up (how convenient) but pay mad dividends.

    They most certainly don't need members money. But every million helps.

    Those are the things you can find with relative ease. I have heard investments in pharmaceutical and oil as well but haven't found anything to back that up.

  • RubaDub
    RubaDub

    SBF ...

    Thank you for saving me time mentioning some of the items you mentioned. If you just google wealthy Mormons, you will see a long list of millionaires and even billionaires (Romney, Huntsman, etc.).

    Yes, Mormons encourage education, careers and of course, the 10% tithe on ones earnings.

    Rub a Dub

  • The Fall Guy
    The Fall Guy

    Thanks SBF. 10% of gross earnings - tax free - is a helluva nice little earner for any enterprise!

  • truth_b_known
    truth_b_known

    Correct me if I am wrong, but I believe the Mormon policy is that if a member volunteers for a mission the missionary will be given funds to gain a college education to land a profession. Then that former missionary tithes 10% of his income from his new profession back to the Mormon church until the day he dies.

    It would be like the Watchtower guaranteeing 4 to 8 years college if you first pioneer for 4 years. However, once you get out of college and start your own practice/business you have to donate 10% of your wealth back to the Watchtower. It's impossible to do this because, well, "the end is so near."

  • stan livedeath
    stan livedeath

    so just what is the hook that gets new mormon members ? do they preach armageddon and a brave new world. a resurrection ? immortality ?

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