Hobby Lobby’s founder and CEO, David Green, has stated his plan to give trust ownership of his business. Before Green, Yvon Chouinard, the creator of Patagonia, transferred ownership of the business to an environmental non-profit.
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Green said in a Fox News opinion piece that he went through a similar procedure when deciding who to own Hobby Lobby and chose God. He added that transferring ownership to his children and grandchildren was unfair to him and had the potential to influence or negatively impact his grandchildren’s future.
On October 23, Green said on Fox & Friends that Hobby Lobby’s entire voting stock had been transferred to a trust, where wealth can be a burden and stewardship can be passed from one person to another.
Even more, he exhorted the other leaders to seek out the source of wisdom, saying that his sources were the Bible and prayer. David hasn’t yet specified how or when the business will be transferred to the trust.
what David Green is worth
David Green is recognized for founding the Hobby Lobby retail empire. He is also well-known for giving money to American Evangelical organizations.
As of November 2022, CelebrityNetWorth pegs the 80-year-net-old’s worth at roughly $5.2 billion. Despite the inaccessibility of precise details regarding Green’s holdings, he has amassed a sizable fortune over the years as a successful businessman.
Green and Larry Pico started collecting and selling miniature picture frames in their garage in 1970 after Green borrowed $600. In August 1972, David began focusing on arts and crafts, and the business grew to the point where Green and his wife were able to construct a Hobby Lobby store in northwest Oklahoma City.
David Green opened a second Hobby Lobby with 6,000 square feet of space in 1975. Giving It All Away is the title of a book he wrote. And reclaiming it all in 2017 with Bill High. David asserts that he founded his company on biblical principles.
In addition, Green contributes to American evangelical organizations and gives half of Hobby Lobby’s pretax profits to a variety of Christian charities. He has donated roughly $500 million and provided $500 million to the Museum of the Bible in Washington, D.C. since 2012.
The founder and CEO of Mardel Christian & Education as well as Every Tribe Entertainment is his eldest son, Mart Green. Green’s daughter, Darsee Lett, serves as the Creative Director of the Hobby Lobby stores, while Green’s second son, Steve, founded and finances the Museum of the Bible and supports the Green Collection.
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