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Chicagoan, 98, donates Walgreens shares he bought decades ago now worth $2 million
Key Excerpts from Article on Website of Chicago Tribune
Posted: February 18th, 2020
https://www.chicagotribune.com/business/ct-walgreens-2-milli...
Nearly 70 years ago, a young Russ Gremel decided to buy about $1,000 worth of stock in a Chicago-based pharmacy chain. As Gremel grew older, that pharmacy chain, Walgreens, grew exponentially. By the time Gremel hit his late 90s, the stock was worth more than $2 million. Still, he didn't cash out. Instead, the now 98-year-old Chicagoan donated the stock to the Illinois Audubon Society, which is using it to help establish a nearly 400-acre wildlife refuge. Though he never discussed his wealth, those who know Gremel say his donation isn't surprising. He's a man with a "big, open heart," said Jack Henehan, one of the many men who was a Boy Scout during Gremel's more than 60 years as a scoutmaster. Another former Scout turned lifelong friend, Dr. Steven Bujewski, 57, said the stock donation is nice, but not as impressive as the time Gremel spent leading his Boy Scouts. "The gift that he has given to thousands of kids through Scouting and the influence it's had on their lives, I think that's 100 times more valuable," Bujewski said. Though Scouting was a big part of his life, Gremel said he chose to donate to the Illinois Audubon Society because of its relatively low administrative overhead and his love of nature. The society had been keeping an eye on a 395-acre property near Amboy and Dixon for some time, and Gremel said he wanted the money to be used to help people enjoy nature. It proved to be a good fit.
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