From 24/7 Wall St. · Mike Barrington · · 3m
10 Investments That Made Early Buyers Incredibly Rich
Early investors turned modest sums into millions through rare timing and patience.
In brief
Early investors turned modest sums into millions through rare timing and patience. Ten investors including a janitor, street artist, and retired IRS agent turned small initial investments into millions through unconventional strategies and decades of patience. Originally reported by 24/7 Wall St..
The $180 Stock Purchase That Became $7 Million
Grace Groner bought three shares of Abbott Laboratories for $180 in 1935 when she was a 25-year-old secretary. She left the investment alone for 75 years, turning it into $7 million by 2010.
“She left the fortune to Lake Forest College, creating a foundation that funds internships, study abroad and other opportunities for students.”
The Janitor Who Quietly Built an $8 Million Portfolio
Ronald Read, a janitor at a JCPenney in Vermont, steadily bought shares in businesses he understood and held them for decades, amassing $8 million by 2014.
“Read steadily bought shares in businesses he understood, favored established dividend payers and held many positions for decades.”
The Engineer Who Rode Tesla to an $11.5 Million Portfolio
Cloud engineer Jason DeBolt began buying Tesla shares in 2013, concentrating his entire portfolio in the company by 2021, achieving $11.5 million.
“In January 2021, DeBolt publicly shared that his Tesla holdings were worth roughly $11.5 million and that he planned to retire at 39.”
The Pool Builder Who Turned $10,775 Into $18 Million
Dan Zanger, a pool builder, sold his Porsche to fund a trading account and turned $10,775 into $18 million in 18 months during the late-1990s tech boom.
“Trading records and his 1999 tax return reviewed by Fortune showed the astonishing result: roughly $10,775 became $18 million in about 18 months.”
The Retired IRS Auditor Who Grew $5,000 Into $22 Million
Anne Scheiber, a retired IRS auditor, grew $5,000 into $22 million by 1995 through careful stock investments, leaving most to Yeshiva University.
“She lived alone in a rent-controlled Manhattan studio and remained so frugal that few people understood the scale of her wealth.”
The $53,000 GameStop Bet That Briefly Hit $48 Million
Keith Gill, known as Roaring Kitty, turned a $53,000 GameStop position into a brief $48 million peak in January 2021 through retail buying.
“In January 2021, a stampede of retail buying collided with enormous short interest and sent GameStop into one of the wildest squeezes ever seen.”
The Contrarian Who Made $100 Million From the Housing Crash
Michael Burry, a doctor-turned-investor, earned $100 million personally by betting on the housing crash through credit-default swaps.
“By the end of the wager, Burry had earned about $100 million personally and roughly $725 million for the investors who remained with his fund.”
The Artist Whose Facebook Murals Were Reportedly Worth $200 Million
David Choe painted murals at Facebook’s first offices in 2005 and later sold his stake for an estimated $200 million at the company’s IPO.
“News reports estimated Choe’s stake at roughly $200 million around the IPO.”
The $70,000 Retirement Account That Grew to $264 Million
Ted Weschler’s retirement account grew from $70,384 to $264.4 million over decades, with Warren Buffett hiring him as a Berkshire Hathaway investment manager.
“By the end of 2018, tax data obtained by ProPublica showed the Roth at $264.4 million.”
Peter Thiel’s $500,000 Facebook Bet Paid Out More Than $1 Billion
Peter Thiel invested $500,000 in Facebook in 2004, achieving over $1 billion in cash by 2012 through the company’s IPO.
“When the company went public in 2012, Thiel sold shares in the offering and unloaded most of the remainder after the lockup expired.”
The Unconventional Path to Wealth
These investors turned modest sums into staggering fortunes through unusual timing, immense risk, or decades of patience.
“Their paths to wealth look nothing like conventional financial advice.”
Why These Investments Matter
The story highlights how patience, unconventional strategies, and timing can create extraordinary wealth from modest initial investments.
“The people on this list include a janitor, a legal secretary, a street artist, a pool builder, and several investors who risked their reputations on ideas almost nobody else believed.”
The Legacy of Early Wealth
These investors left legacies through foundations, scholarships, and community support, emphasizing the long-term impact of patient investing.
“He left $4.8 million to Brattleboro Memorial Hospital and $1.2 million to the local library.”
What Happens Next
These stories inspire future investors to seek unconventional opportunities while emphasizing the importance of patience and long-term strategies.
“These extraordinary outcomes involved unusual timing, immense risk, or decades of patience.”
The key point
Ten investors including a janitor, street artist, and retired IRS agent turned small initial investments into millions through unconventional strategies and decades of patience.
