They collect a tithe of 10% of members’ income from the entire congregation. Most people accumulate less than 10% of their income as net worth annually
And when those 10% get invested you get good returns… then when you have a large pool of money you can join use the TBTF cheat squads to earn a very high return with minimal risk.
Plus, they have been around fore more than 190 years. With smart investments and only 5% growth per year, your wealth doubles over 15 years. They also own land, so with land value going up they made a lot of profit if they just rent it out.
And that’s assuming that all 17 million mormons the LDS church claims to have actually exist. It’s kind of annoying to get deleted from their rolls, so a lot of people who leave don’t bother. Also, many of those 17 million live in much poorer nations than the US.
Sounds like bullshit ngl number of mormons (17 million) times the average american net worth (1 million) = 17 trillion.
Does the temple literally own half the wealth of their congregation?
They collect a tithe of 10% of members’ income from the entire congregation. Most people accumulate less than 10% of their income as net worth annually
So yes, quite possibly they do.
And when those 10% get invested you get good returns… then when you have a large pool of money you can join use the TBTF cheat squads to earn a very high return with minimal risk.
Plus, they have been around fore more than 190 years. With smart investments and only 5% growth per year, your wealth doubles over 15 years. They also own land, so with land value going up they made a lot of profit if they just rent it out.
And that’s assuming that all 17 million mormons the LDS church claims to have actually exist. It’s kind of annoying to get deleted from their rolls, so a lot of people who leave don’t bother. Also, many of those 17 million live in much poorer nations than the US.
That 17 million is a vast overestimation of their worldwide attendance. Real numbers, based off of cellphone data, are closer to 4 million.