Retail News

Hobby Lobby founder is giving his company away

USA Today 10/28/2022

Hobby Lobby founder David Green wrote in an op-ed that he plans to give his company away. “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,” he 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.” Mr. Green’s shares in Hobby Lobby have been moved to a trust. Details have not been released about how they will be dispersed.

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