Why Do the Rich Keep Billions in Banks While Hunger Persists?

LDS Perspective

The Church of Jesus Christ of Latter-day Saints maintains financial reserves while simultaneously conducting extensive humanitarian work worldwide because it follows divine principles of stewardship, preparedness, and sustainable charity. The Church operates one of the largest private welfare systems in the world, funded primarily by fast offerings and humanitarian donations, providing hundreds of millions of dollars annually in food, medical supplies, disaster relief, and development projects across the globe. These efforts reflect the Lord’s commandment to care for the poor and needy, yet the Church distinguishes between temporary relief and the long-term work of salvation, which requires stable institutional capacity. The principle of maintaining reserves is rooted in scriptural preced

Historical Perspective

The Church of Jesus Christ of Latter-day Saints maintains an investment portfolio managed by Ensign Peak Advisors that has accumulated approximately $100 to $124 billion in assets, generating roughly $7 billion annually in investment returns. According to a 2019 whistleblower complaint and Washington Post investigation, over the fund's 22-year existence prior to the disclosure, there were only two major documented disbursements: $600 million to bail out Beneficial Life Insurance (a for-profit Church-owned entity) during the 2008 financial crisis, and $1.4 billion to partially fund the City Creek Mall development in downtown Salt Lake City. Notably, these disbursements went to for-profit business interests rather than humanitarian relief, despite the Church collecting approximately $7 billi