Owner of a Texas megachurch Joel Osteen has returned $4.4 million in COVID-19 disaster loans after being publicly shamed. The preacher who drove a Ferrari was criticized for accepting the loans and showing off his affluence at the same time.
When Osteen and his tax-exempt Lakewood Church received one of the largest taxpayer-funded loans from the pandemic last year, they turned into viral villains. The megachurch got almost $4.4 million through the Paycheck Protection Program to cover wages and other costs when it closed its physical location for services for seven months in 2017.
Osteen’s name trended around the country on Twitter after the Houston Chronicle disclosed the loan, and people began to attack him.
His Lakewood Church in Houston is housed in a 17,000-seat, 600,000-square-foot former sports arena. According to the church, having those chairs unoccupied cost the organization money.
At the time, Donald Iloff, a spokesman for Lakewood, defended the choice to seek assistance from the program.
Lakewood initially did not apply for PPP help during the first half of the program because they thought the shutdown would only last a few weeks, according to a statement from Iloff. But because of the ongoing economic uncertainties and the length of the shutdown, Lakewood finally applied for the PPP loan and was able to pay all of its employees and their families their full salaries and benefits, including health insurance.
Osteen not contributing to the salary of his own employees was criticized by many on social media. According to celebrity net worth, the preacher has amassed a wealth of $100 million. He declines the $200,000 compensation to which he is entitled as pastor of Lakewood. Osteen earns money via his best-selling books and speaking engagements. According to the NY Daily News, he has made upwards of $55 million from his successful projects each year.
However, the public has expressed disdain for the pastor’s extravagant displays of wealth.
The rich Houston suburb of River Oaks is home to a $10.5 million mansion owned by the prosperity gospel televangelist. The 17,000 square foot house is not his only asset, though. The pastor and his wife also own a second property in Tanglewood, Houston, valued at $2.9 million.
Osteen apparently owns a private plane and a Ferrari 458 Italia that he frequently drives. According to Aero Corner, he bought an Airbus A319 for $86 million. The enormous A319 is one of the priciest jets money can buy and is typically utilized for commercial trips.
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The controversy surrounding Osteen’s wealth is a result of greater pressure on the wealthy to close growing gaps.
Although Osteen presumably pays taxes, there is a time for reflection as to why there is such indignation over wealth disparity and unfair taxation.
The disparities between the richest and poorest elements of American society were made clear by the pandemic, and in many cases, they got worse. The richest taxpayers had been hiding billions from the IRS, while millions of Americans lost their jobs (and, in some cases, the unemployment benefits keeping them afloat).
When Osteen’s church came under fire for obtaining a $4.4 million loan from the Paycheck Protection Plan, it added to the finger-pointing about who or what should be eligible for government assistance. The disclosure sparked criticism, particularly in light of Osteen’s rise to personal riches and the church’s running budget and fundraising system.
A representative for the church, David Iloff, told the media that although the church first declined to apply for aid, it did so as the pandemic-related restrictions continued. Iloff claimed that thanks to the financing, the church was able to provide its staff with salaries and health benefits.
Walczak notes that charitable groups, such as churches or NGOs, are frequently the subject of ire about “ostentatious wealth.”
“There will always be people who draw criticism for this, whether they are ministers or leaders of other groups, and that is not surprising. However, that does not imply that there is a tax problem.”
Note from the editor: This story has been changed to clarify that there is no proof that Osteen owned a Ferrari, and any previous reporting that suggested that he did has been removed.
What source of funding does Joel Osteen use?
Victoria Osteen (née Iloff), who would eventually work as a co-pastor at Lakewood Church, wed Osteen on April 4, 1987. They have a daughter and a boy. His half-brother Justin was serving on a mission in 2002, along with his older siblings Paul, Lisa, and Tamara, as well as his younger sister April.
In a $10.5 million mansion in River Oaks with 17,000 square feet, Osteen resides with his family. Osteen claims that despite the church having a $70 million annual budget, he does not get a salary as senior pastor and instead relies on proceeds from book sales.
Why is Joel Osteen a wealthy man?
The senior pastor of Lakewood Church, Joel Osteen, who is reportedly worth more than $50 million, no longer takes the $200,000 salary that is due to him. Instead, he makes money by giving profitable speeches all around the United States and selling copies of his 14 books, many of which have sold millions of copies and appeared on the New York Times Best Seller List. His debut book, “Your Best Life Now: 7 Steps to Living at Your Full Potential,” shot to the top of the Self Help Best Seller list and spent more than two years there. It has now sold more than 8 million copies.
According to the Orlando Sentinel, the preacher with the megawatt smile also collects an estimated $43 million annually at his church, and despite the fact that he never begs for donations during his broadcasts, people nevertheless send millions of dollars in mail.
Osteen was questioned by The Christian Post in 2013 on his decision not to accept a salary.
Osteen remarked, “Not everyone can do that; it’s not feasible. “But since I don’t have to, it was significant to us. And I believe it’s crucial because of the criticism that comes with being well-known and the perception that he is only acting for gain. I may then claim that none of what I do is for financial gain. God has also given us other blessings. If you honor God and remain faithful, you never know where God will take you, and that is a key component of my teaching. I don’t promise them that God will make them wealthy. However, you have no idea how God will bless you.”
Osteen has discussed his wealth and the occasionally unfavorable reputation of televangelists with Oprah Winfrey in a 2012 interview conducted at his house with a grand piano in the background.
“I’m not requesting cash on television. I simply try to be truthful; I don’t strive to be cunning. All I can do is strive to be us. You are aware that we must engage in this battle. We simply feel that this is God’s favor. Big givers, we are. What we preach, we do. We have donated a huge sum of money. Being fortunate and living in a wonderful home don’t bother me in the least.”
Is Joel Osteen a financial giver?
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Joel Osteen owns how many jets?
There is no special jet, and Osteen pays his own hotel expenses. Osteen does not solicit donations on his broadcasts, which are watched by an estimated 7 million people weekly in the US and 100 other countries, despite the cheery pastor taking collections at services, which bring in an estimated $43 million a year.
Who is the owner of the Joel Osteen church?
In Houston, Texas, there is a non-denominational evangelical Christian megachurch called Lakewood Church. With an average of 45,000 participants each week, it is one of the biggest congregations in the country. The former Compaq Center is now home to the 16,800-seat Lakewood Church, which hosts two sessions in Spanish and four services in English each week. Together with his wife Victoria, Joel Osteen serves as senior pastor of Lakewood Church.
How much does a live performance by Joel Osteen cost?
Tickets for the Joel Osteen tour will cost between $30 and $50. Numerous seats in this price level may be found in large arenas like Toyota Arena in Ontario, California. They can be found in Section 200. The 100 section’s seats, which are the ones closest to the stage, range in price from $100 to $150. Similar prices will be available at other arenas like State Farm Arena in Atlanta, Georgia. Costs for lower level seats range from $300 to $350. Additionally, floor seats will be in high demand. They will cost between $380 and $700.
What amount of cash was discovered in Joel Osteen’s church wall?
We’re hearing from the man who cracked the case as we learn more about the cash cache discovered at Lakewood Church. Check out the video up above.
Texas’s HOUSTON (KTRK) According to Houston police, the cache of cash and checks discovered inside a wall at Lakewood Church may be related to a theft from 2014.
Police claimed to have discovered a sizable sum of money hidden inside a wall, including cash, cheques, and money orders.
The finding comes more than seven years after a church safe containing roughly $600,000 in cash and cheques was burglarized. On March 9 and 10, 2014, the incident took place.
The money was inventoried, according to Houston Police, and then left at Lakewood. The plumber named Justin is the one who made this all public.
Erik Scott Smith remarked, “This was not a topic where we were expecting a bombshell phone call that made national news.”
On 100.3 The Bull, Smith co-hosts the Morning Bullpen with George, Mo, and Erik.
When questioned about the occurrence on a radio show, a guy who went by the name Justin the plumber responded, “I went to go remove the toilet, and I pushed some insulation away, and over 500 envelopes fell out of the wall.”
The hosts were curious about the most priceless item ever discovered. All the cash in the Lakewood restroom wall, according to Houston police, may be tied to a 2014 theft. The money were fully insured, and we are working with our insurance carrier to return the stolen funds to the church, the church said in a statement at the time.
“I was cross-referencing all those specifics as he was speaking. It was uncannily familiar. everything that he said. There didn’t seem to be any justification for fabricating this, “Smith replied.
After working at Lakewood, he speculates that the caller pretending to be a plumber may have called his show out of irritation.
Smith added, “I think he’s just waiting there in his house for somebody from the church, police, or somebody to say, ‘Thank you.'”
The church has already stated that it is assisting with the theft probe, but it has made no more comments.
Smith said, “I hope it’s not someone who is currently employed in a church setting that is concealing $600,000 from the folks who donated it.
Police noted that although they did not specify the amount of cash found, the evidence they gathered indicated that this case is related to the theft report from March 2014.