Hobby Lobby owner reveals he is GIVING AWAY his multi-million dollar firm: Says he left it ‘to God’

The billionaire owner of craft chain Hobby Lobby has stated that he has decided to “give away the ownership of Hobby Lobby” – adding, “I chose God.”

David Green, 80, founded the company in 1972 in his native Oklahoma, and the growth of the family business has led to a nationwide chain with annual sales of $6.4 billion.

On Friday, Green – who is worth more than $13 billion according to Forbes – wrote an op-ed Fox news said he understood the decisions of Patagonia founder Yvon Chouinard and Alan Barnhart of Barnhart Crane.

Chouinard announced last month that he had transferred the $3 billion company to a specially designed trust and non-profit organization, and that all profits from now on — about $100 million a year — were earmarked for spending on fighting climate change and protecting undeveloped land around the globe.

Barnhart, founder of a Tennessee construction company that, like Green, is an evangelical Christian, announced in 2007 that he would be donating the company to the National Christian Foundation (NCF). Barnhart still runs it, but has not received any money from the company since 2007.

“The founder of Patagonia recently made headlines when he gave away his company’s property to leave the mission and purpose intact,” Green wrote Friday.

His decision, while rare, mirrors the decision of other entrepreneurs such as Alan Barnhart of Barnhart Crane.

“I’ve been through a similar decision-making process with my Hobby Lobby property; I chose God.’

David Green (center, pink shirt) is pictured with his family. The company he founded in 1972 is now worth $6.4 billion

Hobby Lobby now has 969 stores in 47 states – every state except Alaska, Hawaii and Vermont

Green gave detailed information about his religious beliefs, but unlike Chouinard and Barnhart, he did not clarify to whom, when, and under what terms the company would be transferred.

It’s also unclear if he plans to give away his personal fortune, as well as Hobby Lobby.

David’s youngest son Steve is the company’s president, and his eldest son Mart is the Ministry Investment Officer.

The trio – David and his two sons – are the only ones featured on the executive leadership section of the website.

David’s daughter Darsee Lett is reportedly the company’s vice president of arts/creatives, while her husband Stan Lett was the vice president of Hobby Lobby.

Hobby Lobby has yet to respond to DailyMail.com’s request for clarification.

“As an owner, you have certain rights and obligations, including the right to sell the business and keep the profits for yourself and your family,” Green wrote Friday.

“As our company grew, that idea started to bother me more and more. Well-meaning lawyers and accountants advised me to simply transfer ownership to my children and grandchildren.

“It didn’t seem fair to me that I could change or even ruin the future of grandchildren who weren’t even born yet.”

He noted that the company had pledged to pay a minimum wage of $18.50 an hour and was closed on Sundays — which had been their most profitable work day.

“I think every CEO and business leader should consider whether they are owners or stewards,” Green wrote.

“Think about where your success comes from. I’ve seen many companies with the best ideas fail, and still others with the simplest ideas thrive. I believe that God is the one who bestows success, and with it the responsibility of being a good manager.

Best of all, when I made the decision to give my property away, as did Yvon Chouinard of Patagonia, it allowed us to keep our mission and purpose. It gives me a bigger purpose than just making money.

“As Chouinard said, ‘Instead of going ‘going public’, you could say we’re going ‘targeted’.

Green’s religious beliefs have underlined his leadership at Hobby Lobby.

The company fought the government’s decision guaranteeing access to birth control through the company’s health insurance, arguing it was against their religious beliefs.

The battle went all the way to the Supreme Court, with a 2014 ruling in favor of Green’s company.

The company faced boycott calls in response to the family’s support of Donald Trump and Mike Pence, thanks to Pence’s evangelical background.

And during the pandemic, Hobby Lobby repeatedly broke the rules ordering the closing of stores, with David Green saying his wife had been given a message from God to keep the doors open.

In November 2017, the Green family opened the Museum of the Bible – despite being ordered by federal courts to return some of the biblical artifacts to Iraq, where they were looted, and fined $3 million. to pay.

In March 2020, the Green family announced that they will be returning an additional 11,500 antiquities to Iraq.

The museum’s ‘Dead Sea Scrolls’ also turned out to be forgeries.