Hobby Lobby founder David Green giving away company because he ‘chose God’

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David Green, the CEO of the arts and crafts retail chain, likened his decision to similar moves by the owners of Patagonia and Barnhart Crane.

at $1.2 billion, may have saved himself from paying more than $700 million in capital gains taxes by transferring 98% of Patagonia’s shares to a nonprofit.David Green

“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 said that he grew uncomfortable with the idea of a business owner selling the firm and “keep[ing] the profits for yourself and your family.”“Well-meaning attorneys and accountants advised me to simply pass ownership down to my children and grandchildren.

He recalled a period in the 1980s when “I nearly lost the business” after having “grown proud thinking that I had the Midas touch.”

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

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شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

God doesn't have hobbies?

Still have absolutely no idea what this store sells?

That evil sonuva… Wait, what?

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Hobby Lobby CEO David Green gives away company: 'Wealth can be a curse'Green said he strives to be a steward instead of an owner. I sense his wife is looking for a divorce.. What a weird guy.
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