A lot has happened in the last few weeks news happened Many cryptocurrencies rose by tens of percent and the crypto market turned green. Today it’s time again for a strange investment story about 98-year-old Chicago native Russ Gremel. Russ made a small investment in stocks, but it ended up earning him over a million euros. He also had a very special dream that no one expected.
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Russ Gremel
Russ described himself as a thrifty man. When he was younger, he hardly ever went to a restaurant. He would rather save his money than enjoy a lavish, elaborate dinner. Instead, he ate a plate full of oatmeal.
Another example is the car owned by Russ. While some people trade in or resell their cars after three years, Russ was different here. He kept his last car running for 25 years before getting rid of it. Russ is certainly thrifty, but he also made a big investment.
Investment €880
At the age of 28, Russ decided to buy stocks. It concerned Walgreens, one of America’s largest drugstores. With thousands of locations across the United States, Walgreens is an easy-to-use option for many people’s healthcare needs.
Russ invested $1,000 of his savings, which is about $880. At that time and his age, that was a lot of money to spend on stocks. Despite the risks, it seemed like a good idea to Russ because people always bought medicine and women always wanted makeup.
70 years later and giving it all away
If you’re talking about someone who invests for the long term, it’s Russ. He didn’t touch his stock portfolio for 70 years. That changed when he recently realized that his investment could be worth a lot of money. Walgreens has grown significantly and has more than 8,300 locations in the United States.
Russ turned out to be right and the value of his shares was no less than 1.8 million euros. But instead of living out his final years in immense luxury, the 98-year-old decided otherwise. He donated $1.8 million to the charity Illinois Audubon Society. This organization uses the money to build an animal shelter and nature reserve.
“I don’t have a wife or kids, though,” Russ said. In addition, he did not want to transfer the money until after his death. ‘Why not give it now so I can still visit the nature reserve myself? You have to do something good for the world, that’s what money is for.
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