The Fin The chequebook of Mormon: $500m on Australian farms in six months
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Aug 20, 2025 Greg Bearup, a senior writer at The Australian Financial Review, investigates the Mormon Church's staggering $500 million investment in Australian farmland. He dives into the church's motivations and the potential impact on local agriculture. The discussion highlights concerns over transparency and ethics, revealing fears among farmers about foreign influence on food production. Bearup also shares stories of disillusioned former church members who grapple with the church’s corporate practices, raising important questions about community interests versus institutional greed.
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Large Purchases Skirted Foreign Review
- The Church of Jesus Christ of Latter-day Saints bought almost $500m of Australian farmland in six months without FIRB approval.
- The purchases surprised locals and revealed a regulatory gap tied to trade rules.
Local Farmer Alerted Reporter
- A farmer friend tipped Greg off about a $350m purchase called Worrell Creek near Mungandai.
- Locals worried whether Mormon workers would join town events due to church rules on alcohol and gambling.
Church Operates Like A Major Investor
- The Mormon Church has huge investment funds funded by global tithes and donations.
- Estimates peg its investment assets in the hundreds of billions and growing rapidly.