Swedish Bum Dies a Millionaire

Below is the story of Curt Degeman, a Swedish man lived like a bum but died with an estate worth $1.5 million:

• During his life, Degerman wore torn clothes and spent his days collecting scrap metal from trash cans.
• He invested the proceeds from his rummaging into stocks, which he studied in free newspapers at the local library.  
• After his death, family members were shocked to learn that Degerman had turned other people’s garbage into a stock portfolio worth over $1 million and a collection of gold bars worth almost $400,000.
• Not surprisingly, Degerman’s unexpected fortune spawned a family fight: Degerman left a will directing that his fortune pass to a Nephew who visited him regularly, but another Nephew instituted a court battle for a portion of the estate.  
• Earlier this week, the two nephews entered into an out-of-court settlement regarding the estate and are reportedly “satisfied” with the outcome.  

See Terence Neilan, Family Agrees to Share Bum’s Hidden Millions, AOL News, March 2010. 

Special thanks to Jim Hillhouse (Wealth Counsel) for bringing this to my attention.