Rumor from the news doldrums of August: Mormon church trying to buy Facebook [Updated]

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Updated

Yeah. I know. It’s a slow day today. Anyway, The Church of Jesus Christ of Latter Day Saints — a nonprofit religious organization that may have up to $30 billion in wide-ranging assets — is trying to buy Facebook. That’s what Zach Klein, the co-founder of video site Vimeo, now employed at comedy site CollegeHumor, is hearing from within the company.

Klein has friends in and close to Facebook. Also, another Tumblr-using entrepreneur named Brady Brim-DeForest claims to hear similar things (and made the nice graphic, above, to go with his post).

[Update: Brim-DeForest says an LDS spokesperson has gotten back to say that the rumor is completely unfounded. Also, see my responses to commenters, below.]

Maybe there’s a grain of truth here?

Here’s my bet on what that grain is, assuming this isn’t a joke or somebody being drunk. Current and former Facebook employees are now allowed to sell stock. Why wouldn’t some part of the Church try to buy some part of Facebook?


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