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Deseret Management Corporation (DMC) (/ ˌ d ɛ z ə ˈ r ɛ t / ⓘ) [1] is an American operating company, managing select global, for-profit entities affiliated with the Church of Jesus Christ of Latter-day Saints (LDS Church). It was established in 1966 [2] by church president David O. McKay [3] to hold already-existing church media assets. [4]
The church is also known to own banks, hotels and restaurants, real estate development, forestry and mining operations, and transportation and railway companies. [63] The church's real estate investment arm, Property Reserve, Inc., paid $174.3 million for an industrial park in Hialeah, Florida in or around January 2024. [64]
Catholic Church in Australia: 23.25 Australia: Catholicism: Extrapolated figure from calculating assets and investments in the state of Victoria. [7] Seventh-day Adventist Church: 15.6 United States: Adventism: As of 1998. [8] Church of England: 13.84 United Kingdom: Anglican: Endowment funds. [9] Church of Sweden: 11.41 Sweden: Lutheran: FY2012.
The church has owned Deseret Ranches, a 290,000-acre cattle and citrus farm spanning three counties in Central Florida and located about 50 miles from Orlando International Airport, for over 60 years.
The investment arm of the Mormon church revealed its stock holdings in a 13F filing last week. The church has amassed a portfolio of individual stocks worth $55 billion. A top AI stock is a new ...
Ensign Peak Advisors (/ ˈ ɛ n s aɪ n / EN-syne) [3] (EP) is the investment manager for assets of the Church of Jesus Christ of Latter-day Saints (LDS Church). [4]In 1997, the investment division of the LDS Church was spun off into a separate legal entity named after Ensign Peak, a hill that overlooks Salt Lake City. [4]
The allegations of the illicit shell company structure first emerged in 2018, when a group formerly called MormonLeaks – now known as the Truth and Transparency Foundation – claimed that year ...
AgReserves, Inc. (AgReserves) is a multinational agriculture for-profit company ultimately owned by the Church of Jesus Christ of Latter-day Saints (LDS Church) and based in Salt Lake City, Utah. It is speculated that AgReserves holds the "most valuable private real estate portfolio in the U.S." [1]