Boston man forgets $4m of EMC stock
Picked shares up at 'a buck-fifty'
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. ®