An American man in his 80s who lived a frugal life surprised the local community by donating $3.8 million (about 5 billion won) to the community after his death.
According to the Daily Mail on the 21st (local time), 82-year-old millionaire Geoffrey Holt lived as a residential park manager in Hinsdale, New Hampshire, USA, where 4,200 residents live.
His house was an old trailer, and he did not have a car, so he led a frugal life to the point where he was only seen wearing dirty clothes and riding around town on the town’s lawn mower.
There was no furniture in his house other than a small old bed, and there was no TV or computer.
It is known that he was married once in the past but divorced and has no children.
“I don’t think anyone knew he would be this successful,” said Steve Diorio, village board chairman.
His best friend and former employer, Edwin Smith, said, “He lived his life thinking he had everything he wanted. “He didn’t want to own a lot of things.”
While living a frugal life, he was able to accumulate a huge amount of wealth through wise investments, such as investing in the telecommunications field long before the advent of mobile phones.
At the end of his life, Holt left a will asking for a large sum of $3.8 million (approximately 4.9134 billion won) to be used for the development of the village. In his will, he stated that he would use this money for education, health, recreation, and culture in Hinsdale. .
It has been reported that residents were greatly moved by Holt’s donation and are currently preparing discussions to gather ideas on how to utilize the large amount of property donated.
Through the New Hampshire Charitable Foundation, Holt will be able to receive annual interest of approximately $150,000 (approximately 200 million won) through a trust for the property left behind.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.