Friday, June 23, 2017

If you don't help others with your money, you don't deserve it

Rewind to about 1950. That's when Russ Gremel of Chicago had $1,000 to invest. He spent it on Walgreen's stock, because he figured women would keep going there for makeup. The stock went through the roof, but he never sold it. He never married, so he never needed the money. He never even told anyone he had it.

He was planning to will his fortune of over $2 million (28,000 shares) to the Illinois Audubon Society, but he decided it would be more fun to donate it now, and see what they did with it. They used his donation to set up a 395-acre wildlife refuge called the Gremel Wildlife Sanctuary. It's about 100 miles west of the Windy City. The sanctuary was recently dedicated to his name.

1 comment:

  1. There is a typo in the original amount said to be invested. Can we assume it was one thousand dollars? In any case, it's an example of the in value in investing for the long term, - and a fine example of the generosity that this investment made possible.