Man accidentally becomes a multimillionaire from forgotten $4,500 investment after decades of stock growth

Economic Times

2 days ago

In a remarkable financial twist, a Boston man accidentally amassed almost $4 million after forgetting about 1,000 EMC shares he bought in 1987. Unaware that his small investment had grown exponentially through stock splits, he was contacted by the state treasurer in 2000. Despite the windfall, he chose humility—keeping his job and pledging to help his family and charities.
A 62-year-old Boston man became a multimillionaire after discovering that a $4,500 investment he made in EMC Corporation in 1987 had grown to nearly $4 million. (Representative image: iStock)
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In a twist of fate that could rival a Hollywood script, a 62-year-old Boston man accidentally found himself nearly $4 million richer—all because he forgot about a modest stock investment made almost four decades ago. The man, a salesman who prefers to remain anonymous, initially invested $4,500 in 3,000 shares of a little-known tech company in 1987, acting on a tip from a cousin. That company? EMC Corporation, a firm that would later revolutionize the world of data storage and merge with Dell to become Dell Technologies.According to Boston Global, he stashed the paperwork in a box, sold 2,000 of those shares in the '90s to pay for his children's college tuition, and never gave the rest another thought. Or so he believed.While he went on living a relatively modest life, the tech world—and EMC—was evolving at lightning speed. Unknown to him, the remaining 1,000 shares quietly multiplied over the years through six stock splits. By the time someone finally tracked him down, those humble leftovers had transformed into a whopping 48,000 shares.That moment of revelation came in October 2000, when the Massachusetts State Treasurer's office contacted him. According to state law, stock accounts with no activity are eventually handed over to the Abandoned Property Division. It was through his sister that officials finally located him. By then, that original $4,500 had grown to nearly $4 million—nearly $7.5 million when adjusted for inflation in 2025.'I'm no accounting genius,' he told the Associated Press with characteristic modesty. Yet, even he couldn't deny the magnitude of this unexpected windfall. 'Besides my marriage to my wife and the birth of my children, this is definitely the biggest thing that has happened to me,' he said, overwhelmed by the turn of events.In a scene fit for a movie, the man showed up to claim his fortune in full disguise: sunglasses, baseball cap, and a parka, hoping to avoid attention. But the real magic wasn't in the drama—it was in the rare reminder that patience, forgetfulness, and a dash of fate can sometimes be more powerful than any financial strategy.Despite his new multimillionaire status, the man isn't planning a lavish lifestyle overhaul. He says he intends to keep working, support his family, and donate to charity. His story is a testament to both the unpredictability of life and the awe-inspiring power of long-term investing.So the next time you consider clearing out that dusty drawer or attic box, think twice. You might just be sitting on a fortune.