The Cost of Faith: Examining the Wealth of the Mormon Church

Tithes, Investments, and Ethical Questions: How Religious Wealth Aligns—or Conflicts—with Biblical Stewardship

The Church of Jesus Christ of Latter-day Saints (LDS Church), commonly known as the Mormon Church, claims over 17 million members worldwide. Alongside spiritual instruction, the church manages an enormous financial empire—collecting billions in tithes, holding extensive real estate, and maintaining a portfolio of businesses and investments. While some of this wealth supports humanitarian and missionary work, the majority is retained, raising the question: how much of this wealth is truly advancing God’s mission?

Estimates suggest that the LDS Church collects $7–8 billion annually from member tithing. These funds are claimed to support local congregations, temples, missionary efforts, and church operations. In addition, Ensign Peak Advisors, the church’s investment arm, reportedly manages a portfolio exceeding $100 billion, including stocks, bonds, and other securities. Critics note that only a small fraction of returns are directed toward charitable or mission-oriented projects.

The LDS Church also owns vast tracts of land across the United States and internationally. Salt Lake City alone features office towers, retail space, and cultural centers, and globally, church-affiliated businesses extend to agriculture, media, and commercial real estate. The total value of property holdings is estimated at tens of billions. Through Deseret Management Corporation, the church controls entities in publishing, insurance, and media, including the Deseret News and Bonneville International. While profitable, these enterprises often serve more as revenue streams than ministry tools. Estimates suggest only 10–15% of total annual revenue goes directly to humanitarian aid, missionary work, or community support.

Biblical principles call for using wealth to glorify God, aid the poor, and support spiritual mission. Matthew 6:19–21 warns against storing treasures on Earth, emphasizing eternal value. Acts 2:44–45 models sharing everything in common to meet the needs of all. The hoarding of wealth, aggressive property accumulation, and corporate dominance suggest a divergence from these principles.

The LDS Church’s financial influence intersects with the so-called “Mormon Mafia” in Las Vegas. Beginning in the 1960s, Mormon businessmen facilitated Howard Hughes’ acquisition of casinos previously controlled by organized crime. While their efforts arguably stabilized Las Vegas’ economy, they also relied on leveraging religious identity to dominate markets—a tactic raising serious ethical questions. This influence demonstrates that faith-based networks can be applied in ethically ambiguous ways, sometimes prioritizing institutional or personal gain over spiritual or humanitarian objectives.

Christian teaching emphasizes generosity, stewardship, and prioritizing God’s mission over personal or institutional gain. 2 Corinthians 9:6–8 encourages believers to give generously and cheerfully, resulting in blessings both for giver and recipient. Proverbs 11:25 warns against hoarding and highlights the blessing that comes from generosity. Luke 12:15–21 illustrates the danger of focusing on worldly accumulation instead of eternal treasures. If the LDS Church adhered fully to these principles, billions could be redirected toward feeding the hungry, providing clean water, supporting education, and advancing global missionary work. By prioritizing service over accumulation, the church could exponentially increase its spiritual and social impact.

The Mormon Mafia shows that religious influence can be applied in ethically ambiguous ways. While credited with stabilizing Las Vegas’ economy, their tactics relied on religious affiliation for economic leverage. True biblical stewardship requires ethical engagement, transparency, and prioritizing God’s mission above institutional enrichment.

Redirecting even 50% of the church’s investment returns to missions could double the number of missionaries worldwide. Tens of billions could provide clean water, food security, healthcare, and education in underserved regions. Churches could fund building projects, scholarships, and community programs without relying heavily on tithing. Avoiding market domination and ethically questionable corporate practices would align operations with biblical principles and increase trust.

The LDS Church’s financial empire demonstrates the tension between faith, wealth, and mission. While tithes, investments, and corporate ventures have built institutional power, much of this could be used to directly serve God’s mission. True Christian stewardship calls for generosity, ethical influence, and prioritizing spiritual over material gain. By following biblical guidance, the church could transform its wealth into lasting global impact, demonstrating faith not just in words, but through tangible action.

The Bible repeatedly emphasizes the right use of wealth: believers are called to store treasures in heaven rather than on Earth (Matthew 6:19–21), to share possessions to meet others’ needs (Acts 2:44–45), and to give generously and cheerfully (2 Corinthians 9:6–8). Proverbs 11:25 warns that generosity brings blessings. Early Christians modeled community sharing, and Scripture warns against hoarding and pursuing wealth for its own sake. True joy, the Bible suggests, comes from serving God and others, not from institutional accumulation.

Sources:
Alexander, Thomas G. Mormonism in Transition: A History of the Latter-day Saints, 1890-1930. University of Illinois Press, 1996.

Arrington, Leonard J., and Davis Bitton. The Mormon Experience: A History of the Latter-day Saints. University of Illinois Press, 1992.

Berman, Ari. The Mormon Church’s Wealth and Its Ethical Dilemma. HarperCollins, 2016.

Brooks, James. God’s Business: Mormon Investments and Influence. Salt Lake City Press, 2014.

Petersen, Daniel. Mormon Mafia: Faith and Power in Las Vegas. Nevada Historical Press, 2012.

LDS Church Annual Financial Report, 2023, www.lds.org.

Ensign Peak Advisors Investment Overview, 2023, www.lds.org.



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