How the Mormons Make Money

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BusinessWeek.com
By on July 18, 2012
(Updated with magazine version. Removes an earlier reference to a Twitter account that is not Thomas S. Monson’s official account, and corrects the title of Sheri Dew's book.)

How the Mormons Make Money

Illustration by Labour

Late last March the Mormon Church completed an ambitious project: a megamall. Built for roughly $2 billion, the City Creek Center stands directly across the street from the church’s iconic neo-Gothic temple in Salt Lake City. The mall includes a retractable glass roof, 5,000 underground parking spots, and nearly 100 stores and restaurants, ranging from Tiffany’s (TIF) to Forever 21. Walkways link the open-air emporium with the church’s perfectly manicured headquarters on Temple Square. Macy’s (M) is a stone’s throw from the offices of the church’s president, Thomas S. Monson, whom Mormons believe to be a living prophet.

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