David Green, the founder and CEO of Hobby Lobby announced he would give away ownership of his company for God on Friday.
Green wrote a Fox News opinion piece that revealed his plans and described his journey with Hobby Lobby.
“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,” Green wrote.
“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.”
Founder, Green, says God was the reason for his success with Hobby Lobby
According to WENY News, Green believes that God gave him his success. He believes he should honor God by being the steward of the company instead of focusing on his personal profit.
In is opinion piece, he explained that the stewardship gave him a greater responsibility. He said he was not supposed to use profits for himself and felt he needed to be responsible for the employees God put in his charge.
The company currently pays employees $18.50 per hour, closes on Sunday, and closes by 8 p.m. daily.
Sunday was actually their most profitable day.
This isn’t the first time someone has given their successful company away. Recently, Yvon Chouinard, owner of Patagonia, gave his own company away as well. His decision was to donate the company to a trust that uses profits for fighting climate change.
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