In their fifty plus year marriage, Harvey and Dorothy Rose had a lot to be thankful for. They lived modestly but comfortably on Harvey’s salary as a carpenter and Rose’s part-time work as a medical assistant. They were involved in their local northern California community with Dorothy raising a lot of money for various charities over the years. They treasured their friends and the quiet modest life they had built together. Yes, the Roses’ had a lot to be thankful for. As did the local charities who shared in their $1 million estate! It appears that this modest and hard working couple were not only able to build a fulfilling life but leave a legacy for others as well.
For those of you who have read my book, you may recall the story of Grace Groner, a woman who made a single purchase of company stock which she held on to and never sold. That single stock purchase over time made Grace a millionaire.
Just think, what if you bought many shares of company stock over a long period of time once again never selling? Well, you might turn out like Theodore R. Johnson.
Mr. Johnson was a hard worker rising from a delivery man to a role as Vice President with UPS. He was also very judicious in purchasing company stock over the years. At the time of his retirement in 1952, his annual salary had risen to $14,000 and the value of his stock had risen to $700,000. This was quite a sum based on the value of the dollar at that time. However, instead of splurging on something extravagant, Mr. Johnson held on to that stock never selling and reinvesting the profits.
At the time of his passing in the 1990s Mr. Johnson’s beneficiaries were shocked to learn that they would all be sharing in his $70 million fortune! It appears that Mr. Johnson’s investment strategy was to buy and hold… for a lifetime.
With all of the negativity in the news this week, I thought it would be a great time to focus on someone who is doing good in the world. A self-made and some would say, Surprise Millionaire who is giving back to his community and wants to change America one neighborhood at a time.
Several charities in northern Idaho are the recipients of a charitable trust established by a frugal and anonymous millionaire. All that is known about the benefactor is that she spent the last ten years of her life living very frugally in order to accumulate the $1.5 million estate that established the trust.
A very humble woman, this anonymous benefactor did not want her name disclosed to the public. We do know that she was born in New York in the 1920s and was involved in the arts as a photographer. She retired to northern Idaho some years ago.
This is the first surprise AND anonymous millionaire I have encountered. Could there be more?