• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
RetailHobby Lobby

‘Wealth is a curse’: Hobby Lobby founder says he’s giving away his company instead of keeping it in the family because he ‘chose God’

By
Alena Botros
Alena Botros
Former staff writer
Down Arrow Button Icon
By
Alena Botros
Alena Botros
Former staff writer
Down Arrow Button Icon
October 25, 2022, 1:30 PM ET
Hobby Lobby cofounder David Green.
Hobby Lobby cofounder David Green.Andrew Harrer/Bloomberg—Getty Images
Add Fortune on Google for similar content.

The founder of Hobby Lobby says he’s giving his company away. 

In an op-ed for Fox News published last week, David Green name-checked Patagonia founder Yvon Chouinard, who recently announced that he would be giving away his company. 

Unlike Chouinard, however, Green said that his decision was because he “chose God.” He explained that his faith was the “true source” of his success, and giving away his company came down to his own struggle between considering himself an owner of his company, or a steward.  

“As an owner, there are certain rights and responsibilities, including the right to sell the company and keep the profits for yourself and your family,” he said. “As our company grew, 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.”

In the end, Green wrote that he decided he was a steward, and that “God was the true owner of my business.” 

“When I realized that I was just a steward, it was easy to give away my ownership,” he wrote.

The details of how Green will give away his company are unclear, but in an interview with Fox & Friends Weekend last week, Green said that 100% of the company’s voting stock has been moved to a trust.

“Wealth can be a curse and, in most cases, if you drill down on it, wealth is a curse in terms of marriage, children, and things of that nature,” he said on the program. “So we’re stewarding our company and, therefore, our children come to work, and they get what they earn…It’s a paradigm change from ownership that can really wreck a family.” 

Green’s personal net worth is $14 billion, according to Forbes.

Hobby Lobby’s religious connections have popped up in the news several times over the past few years. In 2014 the Supreme Court ruled in favor of Hobby Lobby in its challenge to the Affordable Care Act’s mandate that required employers to offer Plan B coverage, or the morning-after pill. The retailer said it violated the company’s and its owners’ religious liberties. 

Green and his family also spent $500 million to open the Museum of the Bible, a museum owned by the family that documents the history of the bible, that opened in Washington, D.C., in 2017. It has since been the subject of controversy following a discovery that some artifacts presented in the museum were either stolen or fake. Additionally, in March 2020 (early into the pandemic), the retailer opted to leave stores open because, Green said, employees “can all rest knowing that God is in control.”

Hobby Lobby did not immediately respond to Fortune’s request for comment. 

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

About the Author
By Alena BotrosFormer staff writer
LinkedIn iconTwitter icon

Alena Botros is a former reporter at Fortune, where she primarily covered real estate.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Retail

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Retail

Red Lobster lost millions on its endless shrimp disaster. Shareholders say it was a ‘car crash’ designed to squeeze profits
LawRestaurants
Red Lobster lost millions on its endless shrimp disaster. Shareholders say it was a ‘car crash’ designed to squeeze profits
By Marco Quiroz-GutierrezJune 26, 2026
13 hours ago
The ‘FIFA 15’ is American culinary diplomacy in action
North AmericaFood and drink
The ‘FIFA 15’ is American culinary diplomacy in action
By Catherina GioinoJune 26, 2026
17 hours ago
Fortune 500 Power Moves: Which executives gained and lost power this week
C-SuiteFortune 500 Power Moves
Fortune 500 Power Moves: Which executives gained and lost power this week
By Fortune EditorsJune 26, 2026
21 hours ago
Marketing leaders speak at Fortune's Fuel Up event in Cannes. (L-R) Natalia Ball, Mars Pet Nutrition; Zena Arnold, Sephora; Tati Lindenberg, Unilever; Laura Jones, Instacart; Ruth Umoh, Fortune
RetailCMO
The new CMO playbook: how marketers are balancing broader remits and tighter budgets
By Sam BirchallJune 26, 2026
22 hours ago
AI is overwhelming our senses—Edward Enninful has an answer for that 
EuropeLetter from London
AI is overwhelming our senses—Edward Enninful has an answer for that 
By Kamal AhmedJune 26, 2026
1 day ago
kid
SuccessSocial Media
Kids want to be influencers when they grow up, because they ‘gets lots of money’ and ‘they want to be famous’
By Matthew Simoneau and The ConversationJune 26, 2026
1 day ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
2 days ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
3 days ago
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
Economy
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
By Nick LichtenbergJune 26, 2026
1 day ago
The bond market knows something about the $39 trillion national debt that Washington doesn’t
Economy
The bond market knows something about the $39 trillion national debt that Washington doesn’t
By Eva RoytburgJune 25, 2026
2 days ago
Current price of oil as of June 26, 2026
Personal Finance
Current price of oil as of June 26, 2026
By Joseph HostetlerJune 26, 2026
21 hours ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.