What Companies Does Mormon Church Own?

With a net worth of over $100 billion, the Mormon Church owns a lot of companies and businesses across multiple sectors.

The Mormon Church has found economic success through judicious investments and strategic placements within the business world. As such, it is safe to assume that many unknown companies are likely held by this influential religious organization.

This article discusses what companies does Mormon Church own, when was it founded, who is the current president, and more.

Let’s find out…

What is the Mormon Church?

In the mid-1800s, Joseph Smith founded The Church of Jesus Christ of Latter-day Saints (The Mormon Church). From its humble beginnings, the religion grew and developed over time.

In 1838, Brigham Young took over leadership of the church and in 1847 he led his followers from Nauvoo Illinois to the Great Salt Lake Valley where they would build their new home.

Throughout this process, many members donated money or sold possessions to help contribute toward building up the new community.

What Companies Does Mormon Church Own?

Here is a list of the major sectors and companies within those sectors owned by the Mormon Church:

1. Real Estate

The Mormon Church is one of the largest owners of real estate in the United States.

They hold properties throughout the country, with a particular concentration in Utah, where they are based.

These holdings include commercial buildings and residential homes as well as land for agricultural use or recreational purposes.

2. Investment Companies

The Mormon Church has extensive investments in various industries through its multitude of investment companies.

This includes stakes in technology, media, banking, hospitality, agriculture, automotive, and mining industries.

In addition to these company-specific investments, the church also owns mutual funds and venture capital firms that have further diversified their portfolio.

3. Media Organizations

The Mormon Church owns several prominent media organizations that are dedicated to spreading their message.

This includes Bonneville International Corporation, which owns radio stations throughout the US, Deseret Book Company, a publishing house for books related to Mormonism, and the Mormon Channel, an online streaming service with faith-based programming.

4. Hospitality Companies

The Mormon Church also owns several hospitality companies that provide services such as hotels and resorts.

These include City Creek Center in Salt Lake City, Utah, and Deer Valley Resort in Park City, Utah.

Additionally, they own Flagstaff Resorts in Arizona and have been investing in other properties across the country.

5. Other Companies

The Mormon Church is linked to several other companies as well.

These include insurance provider Deseret Mutual Benefit Administrators, agricultural company Deseret Ranches, and publishing house Ensign Peak Advisors.

They also have investments in the food industry through their ownership of Beneficial Financial Group and Contingent Interests.

When Was Mormon Church Founded?

The Mormon church, also known as the Church of Jesus Christ of Latter-day Saints, was founded in 1830 by Joseph Smith.

Smith was a young man who was searching for the true church of Jesus Christ.

According to his account, he received a vision from God the Father and Jesus Christ, who told him to restore the true gospel of Jesus Christ to the earth.

Smith began to preach his message and gained a small following.

Eventually, he was able to establish the Mormon church and create a community of believers who shared his vision.

Today, the church has millions of members around the world and continues to grow.

Who is the President of the Mormon Church?

The current leader of the Mormon Church, also known as the President of the Church, is Russell M. Nelson.

He became the 17th President of the Church in January 2018 after the passing of the previous leader, Thomas S. Monson.

Prior to his appointment, Russell M. Nelson served in various leadership roles within the church, including as a member of the Quorum of the Twelve Apostles.

As the President of the Mormon Church, Nelson is responsible for guiding the church’s overall direction and ensuring its continued growth and success.

With his extensive knowledge and experience, he is highly esteemed by members of the Church and is seen as a key figure in the religious community.

What is the Net Worth of the Mormon Church?

It is estimated that the net worth of the Mormon Church is well over $100 billion.

The church has a vast amount of real estate holdings and investments as well as receiving tithes and donations from its members.

Some have criticized the church for its wealth, especially in light of its missionary work and emphasis on service.

However, supporters argue that the church’s financial stability allows it to continue its mission and provide for its members and communities.

Regardless, the net worth of the Mormon Church remains a topic of interest and debate.

Where is the Headquarters of the Mormon Church?

The headquarters of the Mormon Church is located in Salt Lake City, Utah.

The imposing Temple Square is home to many of the church’s impressive buildings, including the iconic Salt Lake Temple and the Tabernacle, which hosts the renowned Mormon Tabernacle Choir.

The surrounding area is a hub of activity, with visitors from all over the world flocking to see the historic landmarks and learn about the religion’s unique culture.

Additionally, Salt Lake City boasts a beautiful natural landscape and a vibrant urban scene, making it a must-see destination for anyone interested in immersing themselves in Mormon history and experiencing the beauty of the American West.

What is the Annual Revenue of the Mormon Church?

While the church does not release its financial statements, estimates from various sources suggest that its annual revenue could be as high as $50 billion.

This impressive figure is due in large part to the church’s vast real estate portfolio, investments, and tithing from its members.

However, it’s important to note that the church uses a significant portion of its funds for humanitarian efforts and charitable causes, such as disaster relief and education.

Despite the persistent curiosity surrounding the church’s finances, one thing is certain – the Mormon Church has continued to thrive and grow for over 180 years.

How Many Employees Mormon Church Have?

The Mormon Church does not release its official employee count. However, estimates suggest that it has approximately 32,000 individuals worldwide.

While some of these employees may work in traditional roles, such as those found in administrative offices or local congregations, others are involved in non-profit or humanitarian efforts.

Regardless of how many employees it has, there is no doubt that the Mormon Church is a massive organization that continues to have a significant impact on a global scale.

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