David Green, the founder, and CEO of Hobby Lobby has revealed his intention to transfer ownership of his firm to a trust. Prior to Green, Patagonia founder Yvon Chouinard gave the company’s ownership to an environmental non-profit organization. Green remarked in a Fox News opinion post that he went through a similar decision-making process with his Hobby Lobby ownership and selected God. He further remarked that passing ownership to his children and grandkids is unjust to him and has the ability to affect or harm the destiny of his grandchildren.
On Fox & Friends on October 23, Green asserted that Hobby Lobby’s whole voting shares had been moved to a trust where stewardship may be handed from one person to another and riches can be a burden. He even pushed the other leaders to find the source of truth, claiming that his sources of knowledge were prayer and the Bible. Meanwhile, David has made no mention of how or when the firm would be passed to the trust.
David Green, owner of Hobby Lobby – inspired by Patagonia giving the business to environmental trusts… is giving away Hobby Lobby to religious zealots.
— Halley Weaver (@bikeleptic) October 25, 2022
MY DECISION TO GIVE AWAY OWNERSHIP OF HOBBY LOBBY
I CHOSE GOD – CEO David Green WEALTH CAN BE A CURSE
For The Love Of Money Is The Root Of All Evil – 1 TIMOTHY 6:10
I Have Suffered The Loss Of All Things
& Count Them As Rubbish, In Order That I May Gain Christ
— Ricky Caballero (@RickyCa09039186) October 23, 2022
David Green’s net worth
David Green is well known as the creator of the retail chain Hobby Lobby. He is also well-known for his financial assistance to Evangelical groups in the United States. CelebrityNetWorth estimates the 80-year-old net worth to be about $5.2 billion as of November 2022. Although precise information on Green’s assets is not accessible, he has earned a lot over the years as a successful businessman.
Green borrowed $600 and began collecting and selling tiny picture frames in his garage with Larry Pico in 1970. David turned his attention to arts and crafts in August 1972, and the firm expanded to the point that Green and his wife were able to build a Hobby Lobby shop in northwest Oklahoma City. In 1975, David Green launched another Hobby Lobby with 6,000 square feet of space. He wrote a book called Giving It All Away… And regaining it all with Bill High in 2017. David claims that he started his business on biblical ideas.
Green also supports evangelical causes in the United States and distributes half of Hobby Lobby’s pretax income to a portfolio of Christian nonprofits. Since 2012, he has given around $500 million and has contributed $500 million to the Museum of the Bible in Washington, D.C.
His oldest son, Mart Green, is the founder and CEO of Mardel Christian & Education as well as Every Tribe Entertainment. His second son, Steve, is the president of Hobby Lobby, as well as the creator and financier of the Museum of the Bible and a supporter of the Green Collection, while Green’s daughter, Darsee Lett, is the Creative Director of the Hobby Lobby shops.