When we talk about millionaires, we always think of such important figures as Elon Musk, Bill Gates or Tim Cook. All these stories of luck and hard work have a common denominator: These are usually individual cases.. However, there is a small town in Florida (USA) where most of its neighbors are millionaires.
A story studied in college: The city of Quincy and its visionary banker
The story of Quincy and his banker is one of the most fascinating in American economics. During The Great Depression of the 1920s and 1930sthe city was going through serious economic difficulties. In the midst of this crisis appeared Pat Munroe, a visionary banker who noticed a curious habit of all the inhabitants: even in times of money shortage people still drank Coca-Cola
From there, Pat Munroe realized that this devotion to Coca-Cola could become an opportunity beyond enjoying the soft drink with friends. Coca-Cola shares began trading at $40 each, but fell shortly after to $19 due to problems with the sugar industry and bottlers. Munroe saw an opportunity in this price decline and began buying Coca-Cola shares. Not only did he invest his own money, but he convinced many residents people to do the same.
Coca-Cola stock price developments
He convinced the whole town to apply for a loan and, with the money, buy shares.
The banker was so sure of Coca-Cola’s potential that he devoted himself to encouraging neighbors to go to his bank to ask for a loan to invest in Coca-Cola stock. His good manners convinced farmers, traders, teachers… The profits were quick to come.
The small town of Quincy
Quincy residents maintained a good standard of living through the Depression of the 1920s and the onset of World War II. Wealth was such that it became the richest city per capita in the United States. Its residents were nicknamed “Coca-Cola’s secret millionaires.” Today, families still keep a portion of the wealth of their relatives such as parents and grandparents. In 2013, a study was revealed that a single Coca-Cola time share could have a current value of $10 million.
Can you imagine investing in Apple in time?
After this story of financial and investment success, we did not want to miss the opportunity to compare it with what has been on several occasions the most important company in the world. Apple went public in 1980 with an initial price of $22 per share.. Today, it costs $218. The company has had its ups and downs, but those who have stuck with their investments have seen its value multiply with the launch of innovative products such as the iPod, iPhone, and the most recent Apple Intelligence, which has propelled Apple’s stock to unprecedented levels.
Apple stock performance
The ace Apple Stocks Continue to Grow and a few years ago, a simple modest investment could have turned into a much larger sum of money. As Coca-Cola Transformed Quincy In a city of millionaires, who knows if a similar investment today can yield a similar result in a few years.
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