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The Times of India
The Times of India
World
TOI World Desk

Three shares bought in 1935 grew into a $7 million gift for students

Abbott Anderson Gladys Abbott Laboratories Lake Forest Illinois

Grace Groner lived a modest life in Lake Forest, Illinois, despite eventually accumulating a fortune worth more than $7 million. She never married or had children, worked for more than four decades as a secretary at Abbott Laboratories and remained closely connected to Lake Forest College, where she graduated in 1931. When she died in January 2010 at the age of 100, she left her entire estate to a foundation benefiting students at her alma mater. Her fortune had grown from three Abbott shares she purchased for $60 each in 1935, an investment of $180 that she held for the rest of her life. Groner and her twin sister, Gladys, had been orphaned as children before the Anderson family took them in and helped support their education.

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