LDS Church kept the lid on its $100B fund for fear tithing receipts would fall, account boss tells Wall Street Journal
www.sltrib.com
Latter-day Saint officials kept the size of the church’s $100 billion investment reserves secret for fear that public knowledge of the fund’s wealth might discourage members from paying tithing, according to the top executive who oversees the account.

They are required to talk about anything over $100 million but they “didn’t want people to be discouraged about tithing to them.”

I was looking up if they owned any Pepsi stock still and apparently if they do, they’re not talking about that either.

  • mysoulishome@lemmy.worldEnglish
    6·
    10 months ago

    This was put on display with the campaign to pass proposition 8 in California in the 2000’s which outlawed gay marriage. It was a conservative brainchild but Mormons were largely behind its promotion and success. It was made public what businesses donated to the campaign to support it, those businesses were boycotted for many years after… I remember seeing my Mormon chiropractor on this list and learned that the church called on all members to personally/financially support the passing. How that happened in such a heavily liberal state is a testament to their power.

    Thankfully (ironically?) prop 8 later became instrumental in legalizing gay marriage when it was taken to the Supreme Court. If you don’t know the story I highly recommend learning about it. There are plays and movies about it that are very moving and entertaining.