It’s a rainy-day account of biblical proportions.
A few years ago, a whistleblower exposed the Church of Jesus Christ of Latter-day Saints’ massive investment portfolio, estimated at $100 billion, which was referred to by church officials as a rainy-day account, the Wall Street Journal reported.
It’s now being touted as the financial foundation that supports the construction of more than 100 temples worldwide. The temples, adorned with stone facades, serve as monuments to the church’s extensive and growing wealth.
The temple in Pocatello, Idaho, for example, is 71,125 square feet and boasts luxurious features such as polished limestone flooring from Bethlehem, wooden doors imported from the Congo River region, and a statue of the angel Moroni atop a central spire, according to the outlet.
The temple’s construction cost about $69 million, the Journal said, citing estimates by the church’s contractors.
“We have a vision of the church that is — can I use the word grandiose?” Gerald Causse, the church’s presiding bishop, told the outlet. “Because we believe the gospel has to be taken to all the world. And so we see the size of the church multiple times what it is now, in the future.”
However, when pressed for details about the church’s finances, including temple construction costs and the extent of its assets, Caussé and other officials remained tight-lipped.
The accumulation of wealth by the church, fueled by tithing, where members donate 10 percent of their income annually,...
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