As a child, Luca Zocche, founder of Fides Entrepreneurship, was often reminded by his father of the example of Ken Langone, the billionaire founder of Home Depot. Langone was held up as an example of someone who was immensely successful, but who had not forgotten that his success came from God.
One morning, at the 7.30 am Mass at St Patrick’s Cathedral in New York, Zocche saw Langone sitting a few pews ahead of him. When he later told his Catholic friends about the experience, many reacted with disbelief, surprised that someone of Ken Langone’s stature and success would still feel the need to attend Holy Mass. Their surprise led Zocche to found Fides Entrepreneurship, a group of like minded Catholics who meet to place God at the centre of their success in business.
The group of young Catholic business leaders meets once a month in central New York for talks and discussions. Guests have included eminent Catholic figures in business and philanthropy, including James Fishback, CEO of Azoria Partners, and Sean Fieler, President of Equinox Partners.
In November, the group hosted a dinner and panel on how Catholic ownership is reimagining capital for the common good. Guests heard from Msgr Sakano, president of the Highbridge Community Development Corporation, who spoke about his experience in real estate. Msgr Sakano is a well known figure in New York Catholic life, having served for many years as pastor of the Basilica of St Patrick’s Old Cathedral, the former Cathedral of New York, which offers seven Sunday Masses in four languages.
Alongside his extensive contributions to the sacramental life of the city, Msgr Sakano has also been a force for good in its temporal life. In 1984, he began initiating housing projects on the Lower East Side of Manhattan and in East Harlem, an initiative that would grow into the Highbridge Community Development Corporation. Today, the not for profit owns 44 buildings with around 2,500 units, provides accommodation for more than 5,000 people, and is committed to delivering quality housing for those in need.
The panel also featured Zachary Schierl, Director of Business Development at Julius Capital, a New York based consulting firm that helps non profit organisations expand their mission. Julius Capital works with Catholic schools, dioceses and foundations.
While Msgr Sakano’s ministry has involved securing and expanding major housing projects to serve the needs of his community, it has also included difficult decisions involving the sale of Church property. In 2007, Cardinal Egan, then Archbishop of New York, made the decision to close ten under utilised parishes in order to better address the needs of the Church. One of these was Msgr Sakano’s parish, the Church of the Sacred Hearts of Jesus and Mary on 33rd Street, which included a school and an adjoining refectory. The combined sale raised 35 million dollars.
Acknowledging the pain such cessions cause the Church, Schierl explained that his work at Julius Capital seeks to prevent their necessity. During the discussion, drawing on Christ’s words to St Peter, Schierl said: “Why is the Church selling the rock? Don’t sell the rock.”
The discussion also encouraged entrepreneurs to deepen their spiritual lives within business, whether in real estate or other sectors. Msgr Sakano noted that while affordable housing is a business, for Catholics it is also a form of discipleship, describing it as “a business grounded in the Gospel… environments where people can encounter God”. He added: “It’s a business that is grounded in the Gospel of Jesus Christ.”
Similarly, when asked about his greatest spiritual resource in the world of business, Schierl exhorted those present to “consecrate yourself to Our Lady”. He went on to explain his philosophy of “Our Lady of the brick wall”. Rather than proposing a new title for the Mother of God, Schierl was referring to a gentle way of recognising Mary’s guidance in business. As he explained: “When you hit a brick wall, it’s Our Lady saying, ‘The path is actually over there. You’re walking the wrong way.’”
Whilst the evening focussed on business solutions through a Catholic lens, Msgr Sakano also spoke movingly about the human dimension of work in real estate. As much of his work involves providing housing to people in troubled circumstances, he was able to offer a first hand explanation of the biggest obstacles faced by those experiencing homelessness.
He explained that institutionalisation and loneliness affect homeless people in a profound way. Many will have been born into some form of institutional setting, such as foster care, and will have spent large parts of their lives in institutions including prisons or rehabilitation units. They have rarely experienced sustained human contact or the celebration of life’s milestones. Msgr Sakano said that “we have to humanise” those experiencing homelessness, and told attendees that when he meets a homeless person he will often give them a prayer card and offer to pray with them.
As all Fides Entrepreneurship events do, the evening ended with prayer, with Msgr Sakano beseeching the Lord that those present might continue to grow as Christians with each passing day.
To find out more about the work of Fides Entrepreneurship, readers can visit fidesentrepreneurship.com or email outreach@lucazocche.com.
