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A Smart Bet Made Him A Millionaire, Now This Senior Is Giving Away His Fortune

When Russ Gremel bought stock in a local drug store 70 years ago, it seemed like a very reasonable and careful investment. The Chicago store sold makeup and medicine, and Gremel realized there would always be a market for both of those. Years later, Gremel's small investment paid off big time, because that local drug store was Walgreens - which grew to be the nation-wide chain we all know.

Gremel's original $1,000 investment grew and grew, reaching a value of over $2 million by the time he was in his late 90s.

But it might surprise you to learn that Gremel is giving his fortune away.

Unlike most millionaires, Gremel lives a very simple life. He's lived in the same Chicago home for the past 95 years - long enough to remember when there were gas lamps and horse-drawn carriages on his street.

Gremel's wife has passed away, and they never had any children. Plus, he says he's not interested in fast cars or fancy food.

Instead, he's donating the entire value of his Walgreens stocks to the Illinois Audubon Society. The foundation says it will use the donation to buy a 400 acre nature preserve in Gremel's name.

The nature preserve is the perfect way to remember Gremel, who has spent the last 60 years as a scoutmaster, teaching children to enjoy nature.

More than 400 plant species and 200 bird species will live in the preserve, and that's all Gremel could ask for.

"You have to do some good in this world," Gremel said. "That's what money is for."

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[HT: Chicago Tribune]

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