Top 10 holdings of the Mormon Church's $100+ billion stock portfolio: Hoarding the widow’s Mite?
Imagine discovering a financial giant hidden in plain sight. That's what happened when the Church of Jesus Christ of Latter-day Saints' hundred billion dollar investment portfolio came to light. A financial behemoth, looming in the shadows of Wall Street, its magnitude is nothing short of astonishing.
This colossal portfolio, registered with the Securities and Exchange Commission under the unassuming name of Ensign Peak Advisors, is a testament to the church's financial prowess. An entity of such magnitude, silently operating under the radar, is a revelation that has left many in the financial world in awe. But, the story takes a twist. This massive portfolio remained largely unknown until a brave former employee stepped forward in 2019. This whistleblower, stepping out from the shadows, thrust the church's financial dealings into the glaring spotlight of public scrutiny.
The allegations were hard-hitting. The whistleblower claimed that despite the portfolio's size, it had not been contributing to charitable activities. An investment portfolio of this size, operating under the umbrella of a religious institution, is typically expected to contribute to the greater good. The whistleblower also questioned the fund's tax-exempt status, stoking a debate on whether such a colossal entity should be allowed to enjoy such privileges. What was once cloaked in secrecy has now been unveiled, making it one of the most significant financial revelations in recent years.
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