Feeds

Boston man forgets $4m of EMC stock

Picked shares up at 'a buck-fifty'

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

A Boston salesman has netted $4 million in EMC stock he forgot he owned.

The 62-year-old yesterday sported sunglasses, a baseball cap and puffy parka to hide his identity when he turned up at the State Treasurer's office to collect the shares.

The lucky investor, who refused to reveal his name to reporters at the building, originally bought 3000 shares in the storage monster 13 years ago after a hot tip from his cousin. He acquired the shares at "about a buck-fifty", the Boston Globe reported.

He later sold 2000 shares to fund two of his kids through college, but forgot about the rest. EMC stock has split six times in the last eight years, making the forgotten bounty of 48,000 shares in the company worth around $4 million. His reclaim was believed to be a record for the state of Massachusetts.

But the forgetful millionaire said the windfall wouldn't change him.

"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. "I'm going to keep my job, help my family, and help some charities."

The shares were turned over to the state treasurer's office when their long hibernation was noticed. Last month the man's sister tipped him off the state was trying to track him down. Apparently he was worried they were after him for taxes. ®

Related Stories

The curious case of Arthur C Clarke, MI5 and the runaway millionaire
$1bn prize in dotcom competition
Who wants to be an e-millionaire
EMC rolls out very big boxes

Choosing a cloud hosting partner with confidence

More from The Register

next story
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
prev story

Whitepapers

Free virtual appliance for wire data analytics
The ExtraHop Discovery Edition is a free virtual appliance will help you to discover the performance of your applications across the network, web, VDI, database, and storage tiers.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.