Additional Coverage:
- A secretary turned $180 into $7.2 million by holding her employer’s stock for 75 years (newsbreak.com)
In the 1930s, a secretary named Grace Groner invested $180 in her company’s stock. Through decades of reinvesting her dividends, her investment grew to a staggering $7.2 million by the time she passed away in 2010.
Her employer, Abbott, recently shared her remarkable story. Groner’s unwavering commitment to reinvesting and holding onto her shares for over 75 years allowed her investment to flourish.
She led a modest life, living in a one-bedroom house and thrifting her clothes. She passed her fortune to a foundation supporting her alma mater, providing opportunities for students.
Despite several stock splits, Groner held onto her shares and used dividends to increase her stake. Her investment would be worth over $28 million today, excluding dividends. Abbott’s stock value has soared in recent years, making it a rival to major companies like Disney and PepsiCo.