The Mormon Church, also known as The Church of Jesus Christ of Latter-day Saints (LDS Church), is not only a religious institution but also a major player in the business world. Over the years, the Church has acquired and managed a diverse portfolio of companies across various industries. These business ventures are aimed at supporting the Church’s philanthropic efforts, community development, and economic sustainability.
Key Takeaways:
- The Mormon Church, or LDS Church, owns numerous businesses in different sectors.
- Through its organization, Deseret Management Corporation, the Church manages various subsidiary companies and divisions.
- Ensign Peak Advisors handles the Church’s financial investments, which are estimated to be worth over $40 billion.
- The Church’s businesses contribute to its philanthropic activities and community development.
- Exact details of the Church’s business holdings are not publicly disclosed.
Mormon Church Subsidiaries and Divisions
Within the organizational structure of the Mormon Church, the Deseret Management Corporation oversees various subsidiary companies and divisions. These entities play a significant role in the Church’s business operations and diversify its portfolio. Some of the notable subsidiaries and divisions owned by the Mormon Church include:
1. Bonneville International Corporation
The Bonneville International Corporation is a media and broadcasting company owned by the Mormon Church. It operates numerous radio stations across the United States, serving diverse audiences with news, talk shows, music, and sports programming.
2. Deseret Book Company
The Deseret Book Company is a publishing and retail company focused on producing and distributing literature that aligns with Mormon teachings and values. It offers a wide range of religious books, music, and other faith-based materials.
3. Beneficial Financial Group
The Beneficial Financial Group provides insurance and financial services to individuals and families. This subsidiary of the Mormon Church offers life insurance, annuities, and other financial products, aiming to assist customers in achieving their long-term financial goals.
4. Deseret News
Deseret News is a newspaper published in Salt Lake City, Utah, and it serves as the Church’s official newspaper. It covers local, national, and international news from a perspective that aligns with Mormon beliefs and values.
These subsidiaries and divisions owned by the Mormon Church are just a few examples of the diverse range of businesses in which the Church has a stake. They contribute to the Church’s financial stability and enable it to support various religious, educational, and humanitarian initiatives worldwide.
| Subsidiary/Division | Industry |
|---|---|
| Bonneville International Corporation | Media and Broadcasting |
| Deseret Book Company | Publishing and Retail |
| Beneficial Financial Group | Insurance and Financial Services |
| Deseret News | Newspaper |
Mormon Church’s Financial Holdings
The Mormon Church, or The Church of Jesus Christ of Latter-day Saints (LDS Church), manages its vast financial portfolio through Ensign Peak Advisors, a reputable firm based in Salt Lake City. This firm oversees the Church’s investments, which reportedly amount to over $40 billion in stock positions as of the third quarter of 2022. While the exact details of these holdings are not disclosed publicly, it is believed that the Church has significant investments in several notable companies.
One prominent company in which the Mormon Church is said to have a sizable stake is [Company Name]. The Church’s financial resources also extend to [Company Name], a well-known entity in the industry. Additionally, the Mormon Church is reported to hold significant investments in [Company Name], a leading player in the market.
Through its financial arm, the Mormon Church strategically allocates its resources across various industries. This diversification allows the Church to maximize its returns and support its charitable endeavors. While the Church’s financial holdings are substantial, they serve as a means to further its mission rather than an end in themselves.
FAQ
What companies does the Mormon Church own?
The Mormon Church, also known as The Church of Jesus Christ of Latter-day Saints (LDS Church), owns several notable companies across various industries. Some of these companies include Bonneville International, Deseret Book, and Beneficial Life Insurance.
What subsidiaries and divisions does the Mormon Church have?
The Mormon Church owns and manages subsidiary companies and divisions through its organization called Deseret Management Corporation. Some notable subsidiaries and divisions include Deseret Digital Media, Deseret News, and Deseret Ranches.
How are the Mormon Church’s financial holdings managed?
The Mormon Church’s financial holdings are managed by Ensign Peak Advisors, a Salt Lake City-based firm that handles the Church’s investments. While the exact details of the Church’s holdings are not publicly disclosed, reports suggest that the Church has over $40 billion worth of stock positions as of the third quarter of 2022.
In which companies does the Mormon Church have significant investments?
The Mormon Church has significant investments in various companies. While specific details are not publicly disclosed, reports suggest that the Church has significant investments in companies such as Amazon, Apple, Google, Microsoft, and Berkshire Hathaway.