Chapter
The Hedge Fund Owned by the Mormon Church
06:07 - 10:38 (04:31)
A hedge fund owned by the church of Jesus Christ of Latter-day Saints has grown from 40 billion to over 100 billion dollars from 2012 to 2019, due to its association with the church and tax-exempt status. The church's investment portfolio includes stocks in companies like Caesar's Entertainment and Starbucks, but does not hold stocks in companies like Apple or Microsoft.
Clips
The Mormon Church has a $100 billion fund that does not pay taxes due to its association with the church, leading to restrictions on companies that can invest in its stocks.
06:07 - 08:04 (01:57)
Summary
The Mormon Church has a $100 billion fund that does not pay taxes due to its association with the church, leading to restrictions on companies that can invest in its stocks. The fund has gained attention since news broke in 2019.
ChapterThe Hedge Fund Owned by the Mormon Church
EpisodeGreatest Business Of All Time, Psy-Ops As A Service, Work Harder Not Smarter Hack
PodcastMy First Million
The Sierra Club originally allocated one dollar out of every six for a rainy day fund and put the rest toward operations and their mission; however, the total amount of funds was not disclosed to members to encourage contributions.
08:04 - 10:38 (02:33)
Summary
The Sierra Club originally allocated one dollar out of every six for a rainy day fund and put the rest toward operations and their mission; however, the total amount of funds was not disclosed to members to encourage contributions.