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Thread: The Mormon Church 'amassed 100 billion dollars'

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    tWebber demi-conservative's Avatar
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    The Mormon Church 'amassed 100 billion dollars'

    The Mormon Church Amassed $100 Billion. It Was the Best-Kept Secret in the Investment World.

    A look inside the vast but little-known fund of the Church of Jesus Christ of Latter-day Saints: ‘We’ve tried to be somewhat anonymous.’

    For more than half a century, the Mormon Church quietly built one of the world’s largest investment funds. Almost no one outside the church knew about it.Some of that mystery evaporated late last year when a former employee revealed in a whistleblower complaint with the Internal Revenue Service that the fund, called Ensign Peak Advisors, had stockpiled $100 billion. The whistleblower also alleged that the church had improperly used some Ensign Peak funds.

    Officials of the Church of Jesus Christ of Latter-day Saints, colloquially known as the Mormon Church, denied those claims.They also declined to comment on how much money their investment fund controls. “We’ve tried to be somewhat anonymous,” Roger Clarke, the head of Ensign Peak, said from the firm’s fourth-floor office, above a Salt Lake City food court. Ensign Peak doesn’t appear in that building’s directory.

    Interviews with more than a dozen former employees and business partners provide a deeper look inside an organization that ballooned from a shoestring operation in the 1990s into a behemoth rivaling Wall Street’s largest firms. Its assets did total roughly $80 billion to $100 billion as of last year, some of the former employees said.
    https://www.wsj.com/articles/the-mor...ld-11581138011
    . Bloomberg, by comparison, may be the candidate that most of the Founders hoped would arise: a wealthy patrician, much like them, who would use his vast resources and influence to defeat what he views as disruptive elements in the nation’s political system.

  2. #2
    See, the Thing is... Cow Poke's Avatar
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    This comes as no surprise to me whatsoever.
    "Neighbor, how long has it been since you’ve had a big, thick, steaming bowl of Wolf Brand Chili?”

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    Troll Magnet Sparko's Avatar
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    The mormons have to tithe if they want to remain in good standing with the temple and get into the good Heaven (as opposed to Trailer Park Heaven™)


    But instead of using the money to help the needy, they are just keeping it and buying real estate and investing it.

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    See, the Thing is... Cow Poke's Avatar
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    Quote Originally Posted by Sparko View Post
    The mormons have to tithe if they want to remain in good standing with the temple and get into the good Heaven (as opposed to Trailer Park Heaven™)
    It's much more radical than that. When I (briefly) dated a Mormon girl 'way back when', they had me over for supper (to try to brainwash me). I noted that they had dates written on stuff in the fridge, and at first, I thought that was cool, because then they could tell how old something was, and when it needed to be pitched out.

    The dates were to validate, for example, that they could make a stick of butter last longer than non-Mormons, along with other food items, so they could tithe MORE. Pretty much, your "station" in the Mormon Church is determined by how much MORE than your tithe you can contribute.

    But instead of using the money to help the needy, they are just keeping it and buying real estate and investing it.
    No, silly, it's so they can have the best choir in the universe!!!
    "Neighbor, how long has it been since you’ve had a big, thick, steaming bowl of Wolf Brand Chili?”

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    Professor Catholicity's Avatar
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    Dude that Choir is awesome.
    A happy family is but an earlier heaven.
    George Bernard Shaw

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