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No one realized this 92-year-old janitor had quietly amassed an $8 million fortune until they read his will

Feb 14, 2015, 03:10 IST

When Vermont resident Ronald Read died at age 92, he left millions of dollars to the local library and hospital, reports his hometown newspaper, the Brattleboro Reformer.

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Read, who according to Reuters worked as a gas station attendant and as a janitor at a JCPenney, is remembered by those who knew him as a "frugal and extremely private person."

The Reformer reports that "his estate included a 2007 Toyota Yaris valued at $5,000, but his closest friends and family members did not know he had even a tiny sliver of the fortune he left behind."

Between his property and his investments, that fortune amounted to about $8 million.

In an interview with CNBC, Read's attorney Laurie Rowell explains that most of his investments - including AT&T, Bank of America, CVS, Deere, GE, and General Motors - were found in his safe deposit box after his death.

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"He only invested in what he knew and what paid dividends," Rowell said. "That was important to him."

Those holdings enabled him to bequeath $1.2 million to the local Brooks Memorial Library and $4.8 million to the Brattleboro Memorial Hospital - the largest donations either institution had received since the library's founding in 1886.

Read's stepson remembers him to the Reformer as a daily reader of the Wall Street Journal and a man who lived a financially conservative lifestyle. "I was tremendously surprised," Brown told the paper. "He was a hard worker, but I don't think anybody had an idea that he was a multi-millionaire."

In fact, one local resident quoted in the Reformer says she once knitted him a hat (that she never saw him wear) and "bought some old fence wiring from him once because I thought he could use the money." She adds: "People were stunned that he had that much money."

"He had two lifelong hobbies: Investing and cutting wood," Rowell told the Reformer. "The generous bequests to the Brooks Library and Brattleboro Memorial Hospital attest to his skills at investing. The well-stocked woodpile in his garage attests to his love of cutting wood."

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