'I chose God:' Hobby Lobby founder says he's giving away the company
The founder and CEO of Hobby Lobby announced Friday he "chose God" when he decided to give away ownership of the company.
David Green explained in a Fox News opinion piece his journey with the company and what helped him make the decision.
"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 said. "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."
Green said that as he considered his path he realized all of the success had come from God, adding that stewardship gave him greater responsibility.
"That bigger mission and purpose helped me realize that I was just a steward, a manager of what God had entrusted me. God was the true owner of my business... I wasn’t supposed to take the profits of the business and use them for myself. I also had a responsibility to the employees that God had put in my charge. This is why our company pays a minimum wage of $18.50 per hour, why we close on Sunday (which had been our most profitable day of business), and why we close by 8 p.m. every day."
Green referenced the owner of Patagonia, Yvon Chouinard, donating his ownership of the company to a trust that will use the profits to fight climate change.
Like Chouinard said, "Instead of ‘going public,’ you could say we’re ‘going purpose.’"
WPDE contributed to this report.