Secret Millionaire Leaves $7MM USD For Her Alma Mater

During her entire 100-year life, Lake Forest, Illinois resident, Grace Groner was known as a gentle frugal woman, who lived in a one-bedroom cottage, shopped at rummage sales and never even owned a car. Now, a few months after her death, the world has recognized her for what she really was - An amazingly big-hearted secret millionaire.

Orphaned at the age of twelve, Grace and her twin sister were raised by a family friend. After graduating from Lake Forest College in 1931, Grace joined a pharmaceutical company called Abbot Laboratories as a secretary, where she remained for the next 43 years, until she retired.

During her tenure at this then still relatively small company, she bought 3 shares of the company stock for a total of $180USD, as an investment.

Over the years, the small company became a pharmaceutical giant and Grace's $180USD investment, grew to millions - However, Grace continued to live her normal frugal life using a little of the money to travel and anonymoulsy, help people in need. She also established a $180,000USD scholarship fund at her Alma Mater - Lake Forest College, promising the principal more money after she passed away, but giving no indication of the size of the amount.

So you can well imagine the Principal's surprise and delight when he received a call from Ms. Groner's lawyer indicating that she had bequeathed her entire estate, which included her cottage and $7mm USD to the college.

The college plans to use the funds to set up a foundation for student internships and study-abroad programs. Ms. Groner's cottage, which will be aptly renamed to 'Grace's Cottage' will be converted into student living quarters for scholarship students. Who would have thought that this quiet frugal woman had the capability to make a positive impact on the lives of so many young people!

sources:carmitimes.com