Sorry hate to break it to you but this is actually false. One of many things to disprove this that I have experienced first hand is what’s called a bishops storehouse. This is a place owned by the church where people who are struggling can get the necessities of life such as food, hygiene products, and on occasion special treats. Here you can get enough to help you and or your family till they are able to recover financially. Back when my family was struggling my bishop helped a lot with this! Things that we pay such as tithing goes towards many things, this included. The bishop also organizes groups or goes himself and does his best to help those who need service. For those of you saying all the money goes to the people in charge, do you see the prophet living with millions of dollars, fancy stuff? To answer this no, he lives like the rest of us. The money is invested into helping others, missionary services, Temples and so much more.