United States: Mormon Church Top Secret Fund: 11 trillion yen
Salt Lake City (Utah, USA): Mormonism
For over half a century, The Church of Jesus Christ of Latter-day Saints (aka Mormon Church) has quietly built one of the world’s leading investment funds.
No one, other than the church officials, knew about it.
Ensign Peak Advisors:
Late last year, one end of this mystery came to light.
The fund is named “Ensign Peak Advisors.”
Former employee: Filed a complaint
“This fund is raising $ 100 billion (about 11 trillion yen),” reveals that “a former employee has filed a complaint with the Internal Revenue Service (IRS).” became.
The accused alleges that “the Church has misappropriated the Ensign Peak funds.”
WSJ
https://jp.wsj.com/articles/SB11367435475918324839204586197863489009094
The Mormon Church’s secretive $100 billion fund revealed huge stakes in Apple, Google, and Microsoft.
Here are its 10 biggest holdings.
The Mormon Church’s mysterious $100 billion fund revealed huge stakes in tech companies.
Ensign Peak Advisors had a $40 billion stock portfolio at the end of 2019, SEC filings show.
It included $6 billion worth of shares in
- Microsoft,
- Apple,
- Alphabet,
- Amazon,
- and Intel.
Ensign doesn’t hold Coca-Cola or Starbucks, likely because it doesn’t invest in caffeine stocks.
Markets Insider
Ensign Peak Advisors, church investments explored in Wall Street Journal
Under the headline “The Mormon Church Amassed $100 Billion. It Was the Best-Kept Secret in the Investment World,”
the Journal explored the remarkable growth of the investment fund.
The church did not detail its financial holdings nor confirm amounts first published by the Washington Post in December, after a former employee leveled tax fraud allegations at the church, allegations strongly denied by the church.
Deseret News