By Mark Gray
1:30pm PST, Jan 19, 2024
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Megachurch pastor Joel Osteen has paid off a $100 million loan used for his massive Texas church 41 years ahead of schedule thanks to the "faithfulness" of his congregants. The controversial pastor recently opened up about the accomplishment, telling his Lakewood Church followers, "What God has done for Lakewood, he is going to do in your lives." He added that the interest on the loan was "historically low," which he said meant that church devotees were "good stewards" of "God's money."
Keep clicking for more on Joel's financial situation, which is also one of the things that makes him so controversial…
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Joel Osteen told his parishioners it was "quite the ordeal" to get the loan. The pastor alleged that the first bank he approached with his wife and business partner, Victoria Osteen, wouldn't give them a loan. They then approached a second bank.
"They showed up at our office, first day we were there, without even knowing us, they hadn't even seen our financials, and they had a check for $25 million they said that we could borrow," Joel said.
Eventually, the bank and the Osteens agreed to a $100 million loan.
"It's because of your faithfulness" that the loan was paid off at a stunning speed, he told the church.
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About 50,000 parishioners attend services at the non-denominational Lakewood Church each week. It's estimated that 200 million viewers watch Joel Osteen weekly.
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Joel Osteen isn't without controversy. Back in 2017 after Hurricane Harvey flooded many parts of Houston, he refused to let people shelter in his church, claiming it, too, had flooded. However, residents went to the church with cameras in hand and documented the dry interiors. After mounting public outrage, he finally let people in.
The TV pastor later claimed his haters peddled a "false narrative" about the situation.
Joel also came under fire in 2020 after it was revealed that his church took a $4.4 million bailout as part of the federal government's COVID-19 relief program for small businesses. The loan was paid back a year later amid more public pressure.
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Joel Osteen has an estimated net worth of $50 million and lives in a 17,000-square-foot home in Houston. The six-bedrooms mansion features six bathrooms, three elevators, a one-bedroom guest house and a pool house. According to Zillow, it's valued at $14 million.
In an interview with Oprah Winfrey, Joel said he doesn't feel the need to apologize for his wealth.
"I really don't… We just feel like this is God's blessings," he said. "We live what we preach. We've given millions of dollars and I don't think there's anything wrong with having a nice place to live and being blessed."
While chatting with PennLive in 2013, he said, "It is not that tradition saying you are supposed to be poor and humble. I believe Jesus died so we can have an abundant life and be leaders. I believe that's a part of the ministry that resonates with people. I believe God wants you to prosper in your health, in your family, in your relationships, in your business, and in your career. If that is the prosperity gospel, then I do believe that."
