Do you know about Ronald Read story? Do you know much money did he personally invest? Well, let’s know who Ronald Read was and what did he do through Ronald Read story. Ronald James Read was born on 23rd October 1921. Ronald Read American Idol was a janitor, a gas station attendant, an American Philanthropist, and most importantly an investor. Although he was a janitor and a gas station attendant who did not even wear the perfect clothes, he cared about people more than himself and was a great investor.
Talking about the early life of Ronald Read in Ronald Read story, he was put up in Dummerston, Vermont where her father was a farmer. Read was the first high school graduate in his family. Ronald Read American idol was a hardworking and sincere man. To complete his studies, he used to walk 4 miles every day from his home to school. During the Second World War, Ronald served Italy as a military policeman for five years. However, Ronald respectfully left that job in 1945. Ronald Read American idol came back to Vermont in Brattleboro in the same year. Afterward, he chose to work as a gas station attendant. He was a very loyal person and sincere towards his job.
Table of Contents
Ronald Read working professions
With his kind attitude and dedication, Ronald served as a gas station attendant and a mechanic for 25 years. He did not earn much from the gas station. So, how can we say how much money did he personally invest. Somehow, Ronald managed to buy a house with $12,000. Through Ronald Read story, we get to know that after 25 years, Ronald retired from the gas station. But he wanted to work more. He did not want to sit idle at home sipping coffee. So, he decided to work at J.C. Penney where he got a part-time job as a janitor. Ronald worked at the store for 17 years as a janitor till 1997. Can we predict how much money did he personally invest?
Ronald in the Ronald Read story was just an easy-to-go person who did not have a lavish lifestyle. He only had necessary things. Observing the fact that Ronald worked only at 3 places in their entire life, it states that he was very dedicated to working. Ronald Read American idol paid respect to what he loved and did that.
Ronald devoted 25 years in a gas station
Read had a very private life, self-focused and satisfying. Looking at his tenure of working at the gas station for 25 years and as a Janitor for 17 years, it means that people also loved Ronald. His lasting attitude toward work is a mark that he did not have grudges with anyone and nobody knows How much money did he personally invest. Ronald Read American idol received a positive response with a positive attitude and had healthy relationships with the people around him.
How a middle-class man turn out to be an investor?
Now, the question arises if he was a simple gas station attendance and a janitor, a lower-middle-class man, in the Ronald Read story, was he an investor? Moreover, how much money did he personally invest? Looking at the above professions, it doesn’t seem that Ronald Read was an investor or a philanthropist. Neither we know how much money did he personally invest. He was just a high school graduate how does he know much about investing? How he studied about investments? Ronald Read was specific to only two major professions in his entire life. Then how did he manage to be an investor? Several questions would keep on arising in our minds after reading the Ronald Read story. To answer the same, let’s know about his later life and also know how much money did he personally invest.
Ronald Read: owner of $8 million
Ronald Read American idol was an owner of $8 million in his life. He was not rich but a wealthy person. A rich person is the one who believes in materialistic things and show-off more. He would always have a great house, car, clothes, and a lavish lifestyle. On the other hand, a wealthy person would always limit his things to necessities. Ronald Read was the same. Ronald Read American idol never even discussed that he is such a great investor. Not even his family knew about his wealth and how much money did he personally invest. After he died and people got to know that he has donated the US $1.2 million to Brooks Memorial Library, and $4.8 million to Brattleboro Memorial Hospital, through the Ronald Read story, it was proved that he was an investor.
Donation of Ronald Read
Everybody was astonished by the news of Ronald Read story. In all the magazines and newspapers, one article regarding Ronald Read’s donation was common. When Ronald was ill, he was admitted to the Brattleboro Memorial Hospital. He hired a lawyer at that time to calculate his wealth and know how much money did he personally invest. The amount was the Rs. 55,00,00,000. So, Ronald Read American idol decided to donate US $1.2 million to Brooks Memorial Library, $4.8 million to the Brattleboro Memorial Hospital, and give $2 million to his children. Ronald earned such a huge amount through investment. Some of the questions that arise in our minds after reading Ronald Read story are where did he invest and how much money did he personally invest? How did he get to know about investing? Why he did not disclose his investments to anyone? Let’s know about everything.
A diversified portfolio of Ronald Read
Discussing the investment part of Ronald Read story, Ronald Read American idol invested in dividend-producing stocks and did not buy the stocks of companies that he did not understand. He had a diversified portfolio and invested a lot in blue chip companies. Ronald Read American idol did not understand the working of technology companies because of which he avoided investment in that sector. Even though he earned millions, he lived a very decent life. People always felt pity while looking at him. Some of them even stepped up to help Ronald look at his condition. But Ronald Read American idol always denied it with a smiling face.
Ronald Read as a wealthy person
Ronald is the perfect example of a wealthy person. Even if he had everything and could lavishly live his life, he didn’t.He chose to live a decent life with only necessities. Being a part of an indigent family who only had a farm, being a son of George and Florence Ray Read, he lived in a tiny house. In the United States Army, he went to North Africa, Italy, and the Pacific Ocean Theatre. He was a fifth-grade technician in the Army. Ronald Read American idol finished his deployment in 1945 and returned to Vermont.
When Ronald retired, the brothers sold the gas station. His retirement lasted for a year. Then. Ronald decided to work part-time at J. C. Penny where he managed custodial and maintenance work. Ronald served there for 17 years and retired in 1997.
Love life of Ronald Read
Talking about the love life in Ronald Read obituary, he met his wife at the gas station. Barbara March was a customer there and had two teenage children. In 1960, March and Read married and purchased a house for $12,000. Read took charge of his step-children’s college finance. However, March died in 1970 because of cancer, and Read did not remarry.
Despite being an investor, Ronald Read obituary states that he loved wood chopping, coin collecting, and stamp collecting. The Family often visited his hometown. Ronald Read obituary also mentions that he always looked for some tree branches that he could use for the wood-burning stove.
How Ronald Read know what investment is?
There was a coffee shop at the Brattleboro Memorial Hospital. Read in Ronald Read obituary used to visit the coffee shop every morning and have a cup of coffee along with an English muffin. The coffee shop shut down one day. Then, Read found another shop named Friendly’s. At Friendly’s, Read met the development manager of the previous coffee shop at the hospital. The manager advised Read to go to the library. He went there and got a card. That day, Read started to learn about investing. He was so fascinated by investment that he issued several books every week and know the core of it. Going to the library and reading about investment was the turning point in his life according to Ronald Read obituary.
He purchased the shared for around $2,380 and it jumped to $10,735 when he died in 2014. Talking about other companies in Ronald Read obituary, Read bought shares of J.M. Snicker Company, CVS Health, and Johnson & Johnson. He held many blue chips for a long term. The companies include JP Morgan Chase, General Electric, Proctor & Gamble, and Dow Chemical Company. Read as per Ronald Read obituary always focused on companies that gave a good return so that he could reinvest the money in any other stock.
Ronald Read story investment sectors
Ronald did not invest in the technology sector.The stocks were diversified into many other sectors like healthcare, telecommunications, banks, consumer goods, rail, and more. On the other hand, not every share that Read in Ronald Read obituary held was successful. There were major failures as well. He held a share of Lehman Brothers.
The company was bankrupt on 2008. But it minimally affected his returns because of the diversified portfolio. One of the most amazing facts about Ronald’s investment is that he has several stock certificates. The certificates are filed together and reached up to five inches high. Other than books that he issued from the library Ronald relied on The Wall Street newspaper to know about investment. It was his favorite newspaper that he read daily.
Nobody knew about Ronald’s investment in Ronald Read obituary, neither his family nor friends. He always used a safety pin on his denim jacket so that he can use it for the long term.
A multimillionaire in Ronald Read story
Looking at his condition, a patron paid for his meal at the restaurant once because he could read and can’t afford it. He always used a 2007 Toyota Yaris. Read as per Ronald Read obituary was a multimillionaire. But he never looked at one because nobody knows how much money did he personally invest. Moreover, he never used a parking space that had parking meters. He earned a limited amount and still was a multimillionaire. When everyone got to know that he was a millionaire, a lot of research was done to know how much money did he personally invest.
Talking about the last few days of Read’s life in Ronald Read obituary, his health was deteriorating day by day. He died on 2nd June 2014 at the age of 92. He was a widower with two stepchildren. Dad’s funeral took place with military honors and the officials hurried him to the Meeting House Hill Cemetery.
Ronald Read obituary does not mention how much money did he personally invest. But it mentions that he believed to hold several stocks rather than investing a huge amount in a few stocks.
Richard Fuscone and Ronald Read story
The story of Richard Fuscone is somewhat similar but equally opposite to that of Ronald Read story. Richard Fuscone had everything that Ronald Read didn’t. Richard Fuscone was the Executive Chairman of America at Merrill Lynch. To continue his interest and charity, Richard Fuscone retired in 2000. Richard Fuscone bought his dream house in the same year. The house had around 11 washrooms and 2 swimming pools. It was like the house of elites. Everything went well for a few years. But in 2010, Richard Fuscone was filed by the court for bankruptcy. During bankruptcy, Richard Fuscone had to leave his mansion of around 18 thousand square feet and his palm beach.
On the other hand, Read also has a collection of drums for the Dummerston Historical Society. Many top magazines and newspapers covered Reed’s donation and good deeds. Read was a selfless being. He never thought about his happiness or how much money did he personally invest. Neither has a second thought about donation. The day he left he gave everything he had to his loved ones. Read as per Ronald Read obituary always survives with necessities. Today, it’s been several years since he died. The legacy he owned is the love and respect of people.
Both the stories of Ronald Read and Richard Fuscone reveal that a degree is not important to be rich. Nobody should judge anyone with a sheet of paper carrying marks. Richard Fuscone was an MBA postgraduate from Harvard. Still, he had to face bankruptcy in his life. On the other hand, Ronald Read was just a person who led his life with necessities. Richard Fuscone lived a lavish life, at least for a few years. He wanted to do charity, but he had to face bankruptcy. Richard Fuscone did not utilize his money well. On the other hand, Ronald Read story reveals that he was a great investor. Today, everybody knows Richard Fuscone as a bankrupt and Ronald Read as a philanthropist and investor.