section_path: Business ventures and wealth
section_name: Business ventures and wealth
paragraph_text: Business ventures and wealth
  
  Young engaged in a vast assortment of commercial ventures by himself and in partnership with others. These included a wagon express company, a ferryboat company, a railroad, and the manufacturing of processed lumber, wool, sugar beets, iron, and liquor. Young achieved greatest success in real estate. He also tried to promote Mormon self-sufficiency by establishing collectivist communities, known as the United Order of Enoch.
  
  Young was also involved in the organization of the Salt Lake Gas Works, the Salt Lake Water Works, an insurance company, a bank, and the ZCMI store in downtown Salt Lake City. In 1873, he announced that he would step down as president of the Deseret National Bank and of ZCMI, as well as from his role as trustee-in-trust for the church. He cited as his reason for this that he was ready to relieve himself from the burden of "secular affairs".
  
  At the time of his death, Young was the wealthiest man in Utah, with an estimated personal fortune of $600,000 (equivalent to $17,700,000 in 2024).
  
  Young engaged in a vast assortment of commercial ventures by himself and in partnership with others. These included a wagon express company, a ferryboat company, a railroad, and the manufacturing of processed lumber, wool, sugar beets, iron, and liquor. Young achieved greatest success in real estate. He also tried to promote Mormon self-sufficiency by establishing collectivist communities, known as the United Order of Enoch.
  
  Young was also involved in the organization of the Salt Lake Gas Works, the Salt Lake Water Works, an insurance company, a bank, and the ZCMI store in downtown Salt Lake City. In 1873, he announced that he would step down as president of the Deseret National Bank and of ZCMI, as well as from his role as trustee-in-trust for the church. He cited as his reason for this that he was ready to relieve himself from the burden of "secular affairs".
  
  At the time of his death, Young was the wealthiest man in Utah, with an estimated personal fortune of $600,000 (equivalent to $17,700,000 in 2024).