The 10 Richest Mormons in the World

Have you ever wondered who the wealthiest members of the Mormon church are?

When you think of prosperous religious groups, the Church of Jesus Christ of Latter-day Saints likely doesn’t immediately come to mind.

Yet Mormonism has produced its fair share of billionaires who have made massive fortunes across industries like hospitality, finance, tech and more.

Who are these ultra-wealthy Latter-day Saints? How did they build their vast empires? Are they actively involved in the church and how do they use their wealth to support Mormon communities?

Read on for an inside look at the 10 richest Mormons based on their net worth and highlights of their business success stories and philanthropic work aligned with LDS values.

The 10 Richest Mormons in the World

Below is the overview of the leading ten richest mormons in the world.

1. James L. Sorenson: $4.5B

James L. Sorenson still remains the richest mormon in the world till date. He built his fortune as the founder and chairman of medical device manufacturer Sorenson Development.

Sorenson came from humble beginnings but had big ambitions and was raised in a Mormon family in Rexburg, Idaho. Sorenson got his start selling medical products for Abbott Laboratories in the 1960s. Seeing an opportunity in the IV and cardiovascular space, in 1969 he founded Sorenson Development which manufactures IV catheters and other critical care devices.

Sorenson built Sorenson Development into one of the largest medical device makers in the world. Today, the company has over 5,500 employees globally and brings in $350 million in annual revenues.  

Now 90 years old, Sorenson has dedicated much of his immense wealth to scientific research and innovation. His non-profit, the Sorenson Legacy Foundation, has donated over $100 million to fund projects in biology, physics and more.

The devout Mormon also donated extensively to Brigham Young University, establishing the Sorenson Molecular Biotechnology Building, the Sorenson Arts and Education Complex, and more. According to Forbes, Sorenson has a net worth of $4.5 billion.

2. Sid Bass: $3.7B

Second on the list is Sid Bass who hails from a renowned Texas oil family.

Bass built on his family fortune through savvy investments and philanthropy.  Bass inherited a substantial stake in the Bass Family oil company. However, he took those assets to new heights by investing with value investor Richard Rainwater.

Bass has build up a diversified empire of investments ranging from oil and gas to luxury resorts and casinos. Though fiercely private, Bass is reportedly worth $3.7 billion.

A convert to Mormonism, Bass has been generous in donating some of his wealth. He has given tens of millions to cancer research and other medical causes.

Bass also bankrolled a new building for Yale University’s tennis teams out of his passion for the sport.

The Bass family has also dedicated immense resources to supporting the LDS church and Mormon causes over the years.

3. Richard Taylor Peery: $2.8B

Richard Taylor Peery made his ample fortune helping bankroll over 100 startups over 40 years.  Peery comes from a long line of Mormon pioneers. His grandfather was an early LDS apostle who made the long trek West to Utah. 

Peery transitioned from working at HP, Watkins-Johnson and other tech firms to venture capital—becoming one of the first institutional investors focused exclusively on startups. His firm, negro Peery Ventures, was involved early on with Juniper Networks, Netflix, and dozens more eventual giants. Though he retired several years ago, Peery Ventures lives on and manages over $2 billion in assets.

Peery has spent liberally from his $2.8 billion fortune over the past decade. He gifted $30 million to Utah State University to found the Peery Institute of Financial Services.

Peery also endowed a leadership center at BYU named after former LDS president Thomas S. Monson where students can enroll in free courses on entrepreneurship, data science and design thinking.

The Peery Foundation also supports various educational and family-focused programs within Utah and California.

4. Jim Jannard: $2.7B

Jim Jannard is the maverick founder of sportswear powerhouse Red Bull.  Jannard dropped out of USC to pursue his entrepreneurial dreams. He first founded a boat trailer company before moving into watchmaking. However, it was eyewear that would make Jannard both rich and famous.

In 1975, a broke 26-year old Jannard started Oakley out of his garage with just $300. The company gained a cult following amongst athletes and the Hollywood elite.

Never one to rest on his laurels, Jannard founded RED Digital Cinema to take on incumbents like Sony and Canon with professional-grade cameras. Today his privately held holdings, worth about $2.7 billion, also include luxury resorts, restaurants and over 1,200 patents to his name.

The father of four has donated extensively to conservation efforts to preserve California’s coastline near his multi-million dollar ranch. Janard also recently gave an eight-figure gift to expand the basketball arena of his Mormon alma mater BYU. 

5. Richard Marriott: $2.3B

Richard Marriott helms Marriott International, the global hotel empire founded by his father J. Willard Marriott. Richard expanded the family franchise into the world’s largest hotel chain after taking over in 1979.

Marriott comes from a long line of prominent LDS politicians and businessmen. His father served as an early LDS apostle in the Washington DC area, where the Marriott name graces schools and buildings attesting to the family’s local influence. 

Marriott has leveraged this influence towards various educational and community causes. He gifted $15 million to endow the Marriott School of Business at BYU, which named its library after him. Marriott also funds programs that promote sustainable business and stewardship aligned with Mormon teachings at the school and beyond.

6. J. Willard Marriott: $1.9B 

The patriarch of the Marriott hospitality empire, J. Willard Marriott pioneered the concept of roadside family restaurants and motels into a global hotel giant.

Marriott was born in 1900 in Marriott, Utah, a tiny Mormon settlement founded by his ancestors. Growing up on the family farm instilled an unparalleled work ethic in Marriott from a young age. 

After serving a traditional Mormon mission, Marriott expanded the family root beer stand into an early restaurant chain called Hot Shoppes. He saw an opportunity serving wholesome food at affordable prices conveniently located along highways for road trippers. Marriott then leapt into the lodging industry, again focusing on convenient and family-friendly hotels situated near major roads. 

Today Marriott International boasts over 30 brands with 1.4 million rooms globally thanks to J. Willard Marriott’s pioneering vision. 

7. Roger W. Sant: $1.7B

Roger Sant is the seventh richest mormon in the world. He spent 37 years building gas and electric utility company AES.

The Washington D.C. native comes from a family steeped in Mormon history and public service. His great-grandfather was an original apostle serving under Brigham Young while his father served in the Eisenhower and Kennedy administrations.  After graduating from Brigham Young University and serving an LDS mission abroad, Sant entered the energy sector in the 1970s.

The father of nine children inherited immense generosity through his Mormon lineage. He channels this quality into efforts to uplift impoverished communities worldwide, donating extensively towards increased access to vaccines, education and clean water. He also bleeds blue as one of the most prominent athletics boosters of his alma mater BYU. 

8. Jon Huntsman: $1B

Jon Huntsman made a sizeable chunk of his immense fortune in the petrochemical industry before serving as governor of Utah and a U.S. Ambassador. He was born into a historic Mormon family in the small village of Blackfoot, Idaho.

Huntsman dropped out of high school to assist his family before later earning his diploma and attending the Wharton School at Penn through scholarships and hard work.

After business school, Huntsman returned to Utah and founded the Huntsman Container Corporation which focused on food packaging innovations. He grew the company rapidly and sold out for $12 million just seven years later.  Over the ensuing decades, Huntsman built one of the largest chemical empires on the planet spanning over 70 entities in 30 countries generating $7 billion in annual revenues.

9. Carlos ‘Wizard’ Martins: $1B

Brazilian businessman Carlos “Wizard” Martins built a billion-dollar fortune bringing accessible English language education to Latin America.

Martins joined The Church of Jesus Christ of Latter-day Saints during an especially tumultuous period in Brazil’s history. Facing spiritual and financial difficulties, he prayed for direction and became inspired to pursue entrepreneurship around a growing need for English fluency in Brazil.

In 1987, Wizard and partners opened their first school providing affordable group & personal instruction. They soon expanded across Brazil by standardizing educational materials and training methods. Today their empire includes over 4,000 franchised units of Wizard and competitor Wise Up Language Centers across Latin America and the world teaching English to over 1 million students annually. 

Martins also founded Diamond Tourism focused on strengthening cultural connections between the Brazil and Utah.

10. David Neeleman: $400M 

Last but not the least on our list is the founder and CEO of JetBlue Airways, David Neeleman. This businesman revolutionized discount air travel with his signature twist of customer focus and human touch.

Neeleman is part of a large multigenerational Mormon family, and he grew up in Sao Paolo Brazil before returning to his American ancestral home in Utah as a child.

After serving a Mormon mission, Neeleman came up with an innovative idea allowing travelers to quickly compare flight options while working at Morris Air.

Neeleman also founded Brazilian airline Azul, which became that country’s third largest carrier under Neeleman’s leadership. 

Frequently Asked Questions

Here are some answers to frequently asked questions about the ten richest mormons in the world.

Q: Who are the most powerful and influential Mormon families?

A: Some of the most powerful Mormon families include the Marriotts, Romneys, Huntsmans, and Sorensons. These families have built business empires in hotels, private equity, chemicals, and medical devices, while also pursuing politics and philanthropy.

Q: Which church is the richest in the world?

A: The Church of Jesus Christ of Latter-day Saints (LDS Church), commonly known as the Mormon church, is considered one of the wealthiest churches with an estimated $100 billion in assets. The Catholic Church is also among the wealthiest with inestimable art treasures and extensive real estate holdings.

Q: Who are some other famous Mormons besides the richest ones?

A: Some other famous Mormons include politicians Mitt Romney, Harry Reid and Mike Lee; entertainers and authors Stephenie Meyer, Brandon Flowers, and Stephanie Nielson; business leaders Dell Loy Hansen, Clayton Christensen and Kevin Rollins; and many prominent athletes in various sports.

Conclusion

Now that you’ve been introduced to the 10 wealthiest Mormons spanning self-made billionaires like Sorenson and Huntsman to legendary families like the Marriotts, do you see LDS members differently?

These businessmen built their vast fortunes across industries from hotels to medical devices with the help of principles like diligence and thriftiness cherished in Mormonism.

Though intensely private about the details, most of these prominent Mormon billionaires have shared their prosperity to better their local Utah communities and beyond.

So while Mormonism may not have the riches of ancient religions, its short legacy in America has already cultivated some incredibly wealthy modern followers. It will be interesting to watch what the next generation of ambitious young Mormon innovators, executives and investors achieve.

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