The owner, founder and CEO of the Hobby Lobby chain of craft stores said he has given away ownership of the company to a trust so that he can choose God and not “ruin the future of grandchildren who had not even been born yet.”
David Green, in an opinion piece published by Fox News, said he is “just a steward, a manager of what God had entrusted me. God was the true owner of my business.
That stewardship gave me a greater responsibility. I wasn’t supposed to take the profits of the business and use them for myself.
I also had a responsibility to the employees that God had put in my charge. This is why our company pays a minimum wage of $18.50 per hour, why we close on Sunday (which had been our most profitable day of business), and why we close by 8 p.m. every day.”
Green talked about his decision on “Fox & Friends Weekend” on Sunday. He said he wants to be a steward of the business rather than its owner.
“We want to be stewards of what God has given us,” he said.
Fox News reported that Green said “that 100% of the company’s voting stock has been moved to a trust where the ‘stewardship’ can continue to pass on to one person from another.”
Green said although he has the right to sell the company and keep the profits, “that idea began to bother me more and more.
Well-meaning attorneys and accountants advised me to simply pass ownership down to my children and grandchildren. It didn’t seem fair to me that I might change or even ruin the future of grandchildren who had not even been born yet.”
Green said all of his success has come from God and his only purpose “was to honor God in all that we did. We worked hard and God gave the results. As we were blessed by God, we saw it as a great privilege to give back. We’ve been able to provide hope through supporting ministries and planting churches all over the world.”
The founder and CEO of Hobby Lobby, David Green, said he is giving away ownership of the company to a trust and instead choosing God. (Photo courtesy of Hobby Lobby)Photo courtesy of Hobby Lobby
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October 25, 2022 at 12:59AM
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Hobby Lobby CEO says he is giving away the company and instead choosing God - PennLive
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