The short answer to who owns Hobby Lobby: since October 2022, all of its voting stock has sat in a trust, and founder David Green’s family still runs the company. Before that, the Greens owned it outright. Hobby Lobby has never sold public stock or franchises, according to its own customer FAQ.
Most answers online, including Google’s AI Overview, stop at “the Green family.” The 2022 trust is what changed.
Hobby Lobby’s ownership timeline (Hobby Lobby newsroom, Mardel, US Justice Department, Fortune; October 2026).
Hobby Lobby grew from that $600 loan without outside investors, Forbes reported in 2012. Compare the venture-backed path in our recently funded startups roundup.
What happened to Hobby Lobby’s ownership in 2022?
In an October 21, 2022 op-ed for Fox News, Green wrote that he saw himself as a steward of the business, not its owner, and had given his ownership away. Advisers had suggested passing it to his children and grandchildren, which he felt was unfair to later generations.
On Fox & Friends, Green said 100% of the voting stock had moved into a trust (Fortune, October 25, 2022). He told Fox Business that November there’s no buyout option, and that the company gives away 50% of its profits yearly.
What isn’t public: the trust’s legal name, trustees and terms. Fortune called the specifics unclear, and Green didn’t name it in his op-ed or interviews, so treat any unsourced trust name as unconfirmed.
The idea predates 2022. Forbes reported in 2012 that if Hobby Lobby were ever sold or dissolved, about 90% would go to ministry work and 10% to a trust for family members’ health and education. Our read: the 2022 move locked that intent into who holds the votes.
Who owns Hobby Lobby today, and who runs it?
The same family, day to day, per Hobby Lobby’s newsroom in October 2026:
| Person | Relation to founder | Role |
|---|---|---|
| David Green | Founder | CEO; chairman of the affiliate companies |
| Steve Green | Son | President |
| Mart Green | Son | Ministry Investment Officer; founded Mardel |
| Darsee Lett | Daughter | Vice President of Art/Creative |
| Stan Lett | Son-in-law | Executive Vice President |
Green said his children “get what they earn” for their work (Fortune, 2022). My take: control stayed in the family, but nobody can now cash out or split the company through inheritance.
David Green’s net worth, and what the claims really mean
Forbes puts David Green & family at under $1 billion, as of September 2024. It removed them from the 2024 Forbes 400 after learning Green had put his Hobby Lobby equity into an irrevocable trust for nonprofits and ministries (Forbes, October 1, 2024). Before that, Forbes valued them at $13.7 billion on its April 2024 billionaires list.
Here’s how the common claims hold up:
| Claim | Where you’ll see it | What holds up |
|---|---|---|
| “Owned by David Green and his family” | Google AI Overview, Wikipedia | True before October 2022; voting stock now sits in a trust |
| “Green gave Hobby Lobby away” | Green’s op-ed, October 2022 | He gave up ownership; the family still runs it |
| “Green is worth $13.7 billion” | Forbes, April 2024, and older articles | Out of date: Forbes dropped them from the Forbes 400 on October 1, 2024, and estimated them at under $1 billion |
| “A church owns Hobby Lobby” | Common search question | No church or denomination owns it |
The company’s own value isn’t published because Hobby Lobby doesn’t release financials. Green told Fox Business in November 2022 he expected about $8 billion in sales that year, across 969 stores in 47 states.
What religion are Hobby Lobby’s owners?
The Greens are evangelical Christians, and David Green’s father was a small-town preacher (Forbes, 2012). The company’s stated purpose begins “Honoring the Lord in all we do,” per its newsroom.
It shows up in operations. Stores close on Sundays, once the most profitable day, by Green’s account, and the family spent $500 million opening the Museum of the Bible in Washington in 2017 (Fortune, October 2022). For contrast, see our Nike vision statement explainer.
Hobby Lobby owner controversies
In Burwell v. Hobby Lobby Stores (June 30, 2014), the Supreme Court ruled 5-4 that closely held for-profit companies with religious objections could opt out of covering certain contraceptives under the Affordable Care Act.
In July 2017, Hobby Lobby agreed to forfeit thousands of ancient Iraqi cuneiform tablets and clay bullae, plus about 144 cylinder seals, and pay $3 million to settle a federal civil action over how they were imported (US Attorney’s Office, Eastern District of New York).
What is the sister store to Hobby Lobby?
Mardel, a Christian bookstore chain. Mart Green opened the first one in Oklahoma City in 1981, and it had 41 stores as of October 2026, with headquarters on the Hobby Lobby campus, per Mardel’s site. Hobby Lobby lists Mardel as its affiliated company.
So the Greens still run the business, but Hobby Lobby’s votes now sit in a trust meant to keep it going rather than sold.
FAQ
Can you buy Hobby Lobby stock?
No. Hobby Lobby’s FAQ says it isn’t publicly traded and has no plans to go public. There are no shares on any exchange, and with all voting stock held in a trust since 2022 and no buyout option, there’s no practical route for an outside investor to buy in.
Is Hobby Lobby a franchise?
No. Hobby Lobby says it does not sell franchises and that all of its stores are privately held. Every location is company-run from its Oklahoma City headquarters, which covers more than 12 million square feet of manufacturing, distribution and office space, according to the company’s newsroom.
What tragedy happened at Hobby Lobby?
The search usually refers to March 2, 2023, when an employee shot and killed a manager at Hobby Lobby’s Oklahoma City distribution center after an argument, according to police accounts reported by the Associated Press. The suspect died in a crash while fleeing police later that day.