Post Updated: Monday, October 5, 2026
Gary E. Stevenson is best known today as a member of the Quorum of the Twelve Apostles of The Church of Jesus Christ of Latter-day Saints. Before his full-time church service, he built a major fitness company from the ground up. Questions about his net worth often surface because of that dual path—successful entrepreneur turned religious leader. Here is a clear, evidence-based look at what is publicly known as of late 2026.
Table of Contents
Early Career and the Building of a Fitness Empire
Born in 1955 in Ogden, Utah, and raised in Cache Valley, Stevenson graduated from Utah State University with a business degree. In 1977, while still a student, he co-founded Weslo Design International with Scott Watterson and others. The company evolved into ICON Health & Fitness and later iFIT Health & Fitness, maker of well-known brands such as NordicTrack, ProForm, and Freemotion.
Stevenson served as president and chief operating officer for many years. Under his and his partners’ leadership, the business grew into one of the largest makers of home fitness equipment in the United States. He stepped away from day-to-day operations in 2008 when he accepted a full-time calling as a general authority of the Church.
The 2021 IPO Filings and the $911 Million Paper Value
In 2021, iFIT filed for an initial public offering. SEC documents revealed that Stevenson held approximately 43.4 million shares. At the high end of the proposed price range of $18–$21 per share, those holdings carried a paper value of roughly $911.9 million.
That figure made headlines, but it remained hypothetical. Market conditions cooled after the pandemic fitness boom, and iFIT formally withdrew its IPO in April 2022. The company has stayed private. Because the shares never traded publicly, the $911 million number was never realized as liquid wealth.
Current Net Worth Estimates in 2026
Reliable public estimates place Gary E. Stevenson’s net worth in the multimillion-dollar range. Independent analyses that account for the illiquid nature of private company shares typically cite figures between $5 million and $52 million, depending on the valuation applied to his remaining iFIT stake.
Key points about his financial picture include:
- He resigned operational roles in 2008 and has served full-time in church leadership since then.
- Any retained equity in iFIT is private and not easily converted to cash.
- General authorities of the Church receive modest living allowances rather than corporate-level compensation.
- No public evidence supports billionaire status; the higher figures circulating online stem from the withdrawn IPO valuation.
As of 2026, iFIT continues as a private company with significant private-equity ownership. Exact current ownership percentages and share values are not disclosed.
Quick Facts on Gary E. Stevenson’s Background and Wealth
Detail Information Full Name Gary Evan Stevenson Born August 6, 1955 Primary Role Quorum of the Twelve Apostles (since 2015) Earlier Business Co-founder, President/COO of iFIT predecessor 2021 Share Holdings Approx. 43.4 million iFIT shares Hypothetical 2021 Paper Value Up to ~$911.9 million (IPO never completed) IPO Status Withdrawn April 2022; company remains private Estimated Net Worth 2026 Multimillion range ($5M–$52M estimates) Church Service Full-time since 2008
Conclusion
Gary E. Stevenson’s financial story is unusual: he helped build a major American fitness company, held a large equity stake that once looked potentially transformative on paper, and then left corporate life to serve full-time in church leadership. The widely circulated $900-million-plus figure reflected a planned IPO that never happened. Today, the most careful assessments describe him as a multimillionaire whose remaining private holdings are illiquid. His public life centers on religious service rather than business wealth.
For those interested in precise technical measurement, calibration standards, and the infrastructure that supports reliable industrial and commercial systems, resources such as gmdcalibration.in provide specialized expertise in the field.