An Elderly Man in Tattered Clothes Who Donated 5 Billion Won Turns Out to Be a Wealthy Asset Holder

An 80-Year-Old American Who Built Massive Wealth Through Investment
Frugal Life While Alive... Only an Old Bed in the House

An 80-year-old man in the United States, who had lived a frugal life, passed away after leaving a will requesting that his fortune of $3.8 million (approximately 5 billion KRW) be used for the development of his town.

According to foreign media including the Daily Mail on the 21st (local time), Jeffrey Holt, who lived in Hinsdale, New Hampshire, passed away in June at the age of 82.

During his lifetime, Jeffrey was known for his frugality, often wearing shabby clothes and riding a lawn mower around town instead of driving a car. It was also reported that his home had no furniture except for an old bed. There was not even a TV or computer in Jeffrey’s house.

As a result, local residents were unaware that Jeffrey was a wealthy individual. A resident who was close to Jeffrey said, "No one would have guessed he was so successful," expressing surprise.

Jeffrey donated $3.8 million to the local community before his death. According to his will, the inheritance will be used for education, health, recreation, and cultural sectors in Hinsdale.

The late Jeffrey Holt.
[Image source=AP Yonhap News]

Before passing away, Jeffrey worked as a caretaker of Sterns Park. Prior to that, he was a production manager at a grain factory.

Based on his frugal lifestyle, Jeffrey built immense wealth through wise investments. It is said that while working at the factory, he read books on finance and sought quiet places where he could study related subjects.

Jeffrey’s younger sister, Allison Holt (81), said, "We learned from our father that it is important not to waste money and to invest."

Residents hope that Jeffrey’s legacy will have a positive impact on the development of Hinsdale. Ann Diolio, an employee of the local planning committee, said, "This place is actually a forgotten area in New Hampshire," adding, "I hope it becomes a little more well-known."

This content was produced with the assistance of AI translation services.