⬅ # 153 Mikhail Prokhorov|# 155 Lu Xiangyang

# 154 David Green 

$13.5B

Real Time Net Worth
as of 5/29/2024

# 154 David Green 

$13.5B

Real Time Net Worth
as of 5/29/2024
OccupationCEO, Hobby Lobby
Source of WealthRetail
Age82
ResidenceOklahoma City, Oklahoma
Marital StatusMarried
Children3
EducationDiploma, High School
Age-Adjusted Net Worth$3.04B
David Green
David Green
United States
Net worth: $13.5B

Self-Made Score 

Wealth History

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Biography

Overview

David Green was born on November 13, 1941, in Altus, Oklahoma, the son of a Christian pastor with a congregation of 35.
In 1970, while managing a TG&Y variety store, Green, with a $600 loan, started a home business, Greco Products, assembling and selling miniature picture frames.
The business evolved into arts and crafts, leading to the opening of the first Hobby Lobby store in August 1972, a 300-square-foot space in northwest Oklahoma City.
By 1975, he left his 13-year career with TG&Y to open a second Hobby Lobby location with 6,000 square feet of space.
As of January 2022, Hobby Lobby has expanded to 970 locations, with an estimated $7.9 billion in sales.
Green remains actively involved as the CEO of Hobby Lobby, working six days a week, and the stores are closed on Sundays.
A devout Christian, Green has expressed his commitment to biblical principles in building his business.
He has plans to donate 90% of the company to charity, with the remaining 10% going to his family.

Philanthropy

Green is a major financial supporter of Evangelical organizations in the United States.
He commits half of Hobby Lobby's pretax earnings to a portfolio of evangelical ministries, having donated an estimated $500 million as of 2012.
Green is a donor to 'He Gets Us,' a $100 million campaign promoting Jesus and Christianity.
In 2017, he funded the Museum of the Bible in Washington, D.C., at a cost of $500 million.

Political Stance

Green has taken a public stance against the Patient Protection and Affordable Care Act (Obamacare) due to its provision mandating the inclusion of the 'morning-after pill' in health coverage.
He sued the federal government in Burwell v. Hobby Lobby Stores, Inc., successfully overturning the mandate.

Personal Life

Green grew up in Altus, Oklahoma, and has built his business on biblical principles.
He is very supportive of Christian organizations and is one of the largest individual donors to Evangelical causes in the United States.
Green lives in southwest Oklahoma City with his wife, Barbara, and Hobby Lobby is owned by them and their three children.

Museum of the Bible

Green funded the Museum of the Bible in Washington, D.C., at a cost of $500 million.
In 2017, U.S. Immigration and Customs Enforcement announced the return of 3,800 ancient artifacts found in the Hobby Lobby warehouse to the Republic of Iraq.
In 2020, an additional 11,500 artifacts were returned to Egypt and Iraq.
Forbes reported in July 2020 that the museum received between $2 million and $5 million from the Paycheck Protection Program to retain 249 jobs during the closure.

Family

Green's three children are actively involved in various roles within the Hobby Lobby empire.
The eldest son, Mart Green, is the founder and CEO of the Mardel Christian & Education book store and Every Tribe Entertainment.
Steve Green is the president of Hobby Lobby, founder, and primary funder of the Museum of the Bible, and patron of the Green Collection.
Daughter Darsee Lett serves as the Creative Director for the Hobby Lobby stores.

How long would it take you to become as rich as David Green?

If you started with $10,000 and invested an additional $500 each month at a 44.02% CAGR, it would take you 5 years to reach David Green's net worth of $13.5B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.57% compared to 11.75% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

David Green is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For David Green, Retail is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey