This is the million dollar question. Where does the money go? Why is there zero transparency?
On the other hand, Ray Franz believed his fellow Governing Body members sincere and captives on a concept. Does that still hold true today? They seem sincere, but deluded. Relative to the millions of JWs worldwide, they are better off, perhaps in an upper middle class lifestyle, along with gifts richer followers give them.
But then there are vendors who profit from the materials and services Watchtower provides, as well as salesman who get huge commissions.
I believe there is evidence that they invest in hedge funds and offshore accounts.
I do wonder if certain individuals in the Watchtower cooperation could actually embezzle money and the uneducated Governing Body would be none the wiser.
But then this is all speculation.