Mormons are well-known for their strong work ethic and entrepreneurial spirit, and many have gone on to build highly successful businesses. In this article, we’ll take a look at the top 5 largest companies owned by Mormons and the impact they have had on their respective industries.
Table of Contents
1. Nu Skin Enterprises
Nu Skin Enterprises is a leading direct selling company that offers a range of skincare, nutritional, and anti-aging products. The company was founded by Mormon entrepreneurs Blake Roney, Steve Lund, and Sandie Tillotson in 1984 and has since grown into a global powerhouse, with operations in over 50 markets worldwide. Nu Skin’s innovative products and strong network of independent distributors have helped the company achieve annual revenues of over $2.6 billion, making it one of the largest companies owned by Mormons.
2. Domo
Domo is a cloud-based software company that provides a platform for business intelligence and data visualization. The company was co-founded by Mormon entrepreneur Josh James in 2010 and has quickly become a major player in the tech industry. Domo’s innovative approach to data management and analytics has attracted a diverse range of clients, including some of the world’s largest corporations. With annual revenues of over $220 million, Domo is one of the fastest-growing companies in its sector and a prime example of Mormon entrepreneurship.
3. Zions Bancorporation
Zions Bancorporation is a major financial services company that operates in the western United States. The company was founded by Mormon pioneers in 1873 and has since grown into a leading player in the banking industry. Zions Bancorporation offers a wide range of banking and financial services to individuals, businesses, and institutional clients, with assets totaling over $70 billion. With a strong focus on innovation and customer service, Zions Bancorporation continues to be a top choice for banking and financial solutions among Mormons and non-Mormons alike.
4. Qualtrics
Qualtrics is a leading provider of experience management software that helps businesses gather and analyze customer feedback. The company was founded by Mormon entrepreneurs Ryan Smith and Jared Smith in 2002 and has quickly risen to prominence in the tech industry. Qualtrics’ innovative platform has attracted a diverse range of clients, from small businesses to Fortune 500 companies, and has helped the company achieve annual revenues of over $600 million. Qualtrics’ commitment to helping businesses understand and improve their customer experiences has made it one of the largest companies owned by Mormons.
5. Deseret Management Corporation
Deseret Management Corporation is a holding company that oversees a diverse portfolio of businesses, including media, real estate, and publishing. The company is owned by The Church of Jesus Christ of Latter-day Saints and is deeply rooted in Mormon values and principles. Deseret Management Corporation’s media properties, including the Deseret News and KSL TV and radio, have a strong presence in the Utah market and beyond. With a focus on providing uplifting and informative content, Deseret Management Corporation continues to be a major player in the media and publishing industry.
Conclusion
These top 5 largest companies owned by Mormons are a testament to the entrepreneurial spirit and business acumen of the Mormon community. From skincare and technology to finance and media, Mormon entrepreneurs have made significant contributions to a wide range of industries, leaving a lasting impact on the business world. Their commitment to excellence, innovation, and ethical business practices has helped these companies achieve remarkable success and set a positive example for others to follow.
FAQs
1. How have Mormon entrepreneurs contributed to the business world?
Mormon entrepreneurs have made significant contributions to various industries, including skincare, technology, finance, and media. Their commitment to excellence, innovation, and ethical business practices has helped their companies achieve remarkable success and leave a lasting impact on the business world.
2. What are some key factors behind the success of these companies?
The success of these companies can be attributed to factors such as strong work ethic, innovative products and services, a focus on customer satisfaction, and a commitment to ethical business practices. Additionally, the leadership and vision of Mormon entrepreneurs have played a crucial role in driving the growth and success of these businesses.
3. How do these companies reflect Mormon values and principles?
These companies reflect Mormon values and principles through their commitment to integrity, honesty, and service. Many of these businesses have been founded on the principles of hard work, perseverance, and a desire to make a positive impact on the world, in line with the teachings of the Mormon faith.
biggest mormon owned companies
1. The Church of Jesus Christ of Latter-day Saints, also known as the Mormon Church, is one of the wealthiest religious organizations in the world, with billions of dollars in assets. The church owns and operates a variety of major businesses, including Deseret Management Corporation, which oversees the church’s for-profit ventures. The company has interests in media, real estate, agriculture, and other industries, making it one of the largest religiously owned conglomerates in the world.
2. Nu Skin Enterprises is a multi-level marketing company that sells a variety of personal care and wellness products. The company was founded by Mormons Blake Roney, Steve Lund, and Sandie Tillotson in 1984 and has since grown to become one of the largest direct selling companies in the world. Nu Skin’s success has made its founders among the wealthiest Mormons in the world, with a combined net worth in the billions of dollars.
3. SkyWest, Inc. is a regional airline company that operates under the SkyWest Airlines and ExpressJet brands. The company was founded in 1972 by Ralph Atkin, a devout Mormon who served as the company’s CEO for over 20 years. As one of the largest regional airlines in the United States, SkyWest has become a major player in the aviation industry, with a fleet of over 450 aircraft and thousands of employees.
4. Huntsman Corporation is a global manufacturer and marketer of specialty chemicals. The company was founded by Jon Huntsman Sr., a prominent Mormon businessman and philanthropist. Huntsman Corporation has grown to become one of the largest chemical companies in the world, with operations in over 30 countries and annual revenues in the billions of dollars. Jon Huntsman Sr. was also a major donor to the Mormon Church, contributing millions of dollars to various church programs and initiatives.
5. Vivint, Inc. is a leading provider of smart home technology and security systems. The company was co-founded by Mormons Todd Pedersen and Keith Nellesen in 1999 and has since become one of the largest home security companies in the United States. In 2020, Vivint merged with another smart home company, making it one of the largest players in the industry. The company’s success has made Pedersen and Nellesen among the wealthiest Mormons in the world, with a combined net worth in the billions of dollars. biggest mormon owned companies