In 1953, Russ Gremel bought Walgreens shares for $1,000; 64 years later, they were worth $2.1 million

Russ Gremel bought 20 shares of Walgreens stock for $1,000 in 1953. More than six decades later, that investment was worth over $2 million. Rather than keep the money for himself, the Chicago resident donated the shares to the Illinois Audubon Society to help protect wildlife habitat.

The donation funded a 395-acre sanctuary in Illinois that would carry his name. When the property was dedicated in 2017, Gremel was 98 years old. He had spent much of his life working with young people, teaching them about nature and encouraging them to care for the land.

He Bought $1,000 in Walgreens Stock in 1953. It Became a $2 Million Wildlife Legacy

Gremel purchased 20 shares of Walgreens, the Chicago-based pharmacy chain, in 1953. His original investment was modest by comparison with its eventual value, but he held the stock for decades as the shares multiplied in value.


By June 2017, reports put the investment's worth at more than $2 million. That represented an increase of over 2,000 times the original $1,000 investment, although the precise return depends on the stock's history, including splits and any other distributions.

Why Gremel chose to give away the stock

The money could have supported Gremel's own retirement or been passed on to others. Instead, he decided to use the investment to preserve land for wildlife and public enjoyment.

Gremel contacted people connected with the Illinois Audubon Society when his health was declining. He wanted to make a contribution while he was still able to do so and asked whether the organization could identify land worth protecting.

The society found a suitable property in Dixon, Illinois. The land was purchased from Augustana College in Rock Island, and the resulting sanctuary was named in Gremel's honor.

Gremel's connection to wildlife conservation stretched back decades before the donation. He joined the Illinois Audubon Society in 1965 and taught young scouts about protecting the natural world.

He was also a World War II and Korean War veteran, a lawyer and a longtime Scoutmaster with Boy Scouts of America Troop 979 in the Chicago area.

Former scouts remembered him as a demanding teacher who expected young people to think for themselves. Francis O'Byrne, who joined the troop in 1971, recalled that Gremel taught lessons beyond outdoor skills. He helped scouts learn to read, write in cursive and solve mathematical problems.