David Green, founder and CEO of Hobby Lobby, has revealed his intention to transfer ownership of his company to a trust. Before Green, Patagonia founder Yvon Chouinard gave ownership of the company to an environmental nonprofit. Green noted in a Fox News opinion piece that he’s gone through a similar decision-making process with Hobby Lobby ownership and choosing God. He further noted that passing ownership to his descendants is unfair to him and could affect or harm the fortunes of his grandchildren.
On Fox & Friends on October 23, Green argued that all of Hobby Lobby’s voting stock had been transferred to a trust where management could be transferred from one person to another and the Being rich can be a burden. He even pushed other leaders to find the source of truth, claiming that his source of knowledge was prayer and the Bible. Meanwhile, David did not mention how or when the company will be transferred to the trust.
David Green, owner of Patagonia-inspired Hobby Lobby who left the business for environmental organizations… is giving Hobby Lobby to religious fanatics.
– Halley Weaver (@bikeleptic) October 25, 2022
DECISION TO TRANSFER MY PROPERTY RIGHTS
I CHOOSE GOD – CEO David Green RICH CAN BE A PRAYER
For the love of money is the root of all evil – 1 Timothy 6:10
I am willing to bear the loss of everything and treat it as stubble, that I may obtain Christ PHILIPPIAN 3:8
– Ricky Caballero (@RickyCa09039186) October 23, 2022
David Green’s Net Worth
David Green is known as the creator of the Hobby Lobby shopping chain. He is also known for providing financial support to mission groups in the United States. CelebrityNetWorth estimates the 80-year-old’s net worth as of April 2023 to be around $5.2 billion. Although there is no exact information on Green’s fortune, he has made a lot of money over the years as a successful businessman.
Green borrowed $600 and began collecting and selling small picture frames in his garage with Larry Pico in 1970. David turned his attention to arts and crafts in August 1972, and the business expanded so much that Green and his wife built a Hobby Lobby store in northwest Oklahoma City. In 1975, David Green started another 6,000 square feet Hobby Lobby. He wrote a book called Give It All… And Take It All Back with Bill High in 2017. David claims that he started his business based on ideas from the Bible.
Green also supports missionary activities in the United States and distributes half of Hobby Lobby’s pre-tax earnings to a directory of Christian nonprofit organizations. Since 2012, he has given approximately $500 million and has given $500 million to the Museum of the Bible in Washington, D.C.
His eldest son, Mart Green, is the founder and CEO of Mardel Christian & Education, as well as Every Tribe Entertainment. His other son, Steve, is the president of Hobby Lobby, creator and funder of the Museum of the Bible and a supporter of the Green Collection, while Green’s daughter, Darsee Lett, is the director. creation of shops in Lobby Lobby. .
Categories: Entertaintment
Source: newstars.edu.vn