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A Worthy Millionaire To Be Remembered

Saturday, November 30, 2013 - 7:39 PM
From NY Daily News:

Seattle man who wore clothes with holes, clipped coupons leaves $188M to institutions - NY Daily News

Read from FWF, I thought it is worth repeating here.
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
1. Saturday, November 30, 2013 - 8:51 PM
This is truly a "don't judge a book by it's cover" story except this book had millions of dollars inside it.  What a fantastic man!  Beautiful story.
paoli2paoli21,398 posts since
Aug 10, 2011
Rep Points: 6,127
2. Monday, December 2, 2013 - 1:15 AM
Okay, this story is not entirely accurate. There is no way this guy made $188 million from being a great stock market investor. The story briefly mentioned he inherited money from his father, who had owned a very successful company. I wonder how much he inherited?
loulou552 posts since
Aug 3, 2010
Rep Points: 3,431
3. Monday, December 2, 2013 - 8:38 AM
Granted he did good with a large portion of his money, but there is something odd with this man where it became an obcession.

“An elderly Seattle man who lived a frugal lifestyle with holes in his clothes and coupons in his pockets…”

"Jack went out of his way to look poor, partly because he didn't want to be badgered by people who wanted money,"

Warren Buffett, billionaire, still lives in his modest Omaha home which cost less than one hundredth of a percent of his estimated net worth, but he doesn't walk around with "holes in his clothes".
ShorebreakShorebreak2,671 posts since
Apr 6, 2010
Rep Points: 14,475
4. Tuesday, December 3, 2013 - 8:33 AM
The headline is a leading misleading because it makes you think he got wealthy by clipping coupons and wearing tattered clothes. He was an attorney for 30 years so even without his inheritance; he probably could afford to live a decent life style and dress accordingly. He was very wealthy but certainly did not have go out of his way to look poor. Eccentric comes to mind.

Some people that come into wealth spend it as fast as they can. He apparently made some good financial decisions and did not see a need to display his wealth to others, so good for him.
FARFAR108 posts since
Feb 26, 2013
Rep Points: 386