Local Millionaire Bequeaths Entire Fortune to County

ElkhartCounty sits in far north Indiana with a population of around 50,000.  Elkhart is still a manufacturing hub forrecreational vehicles but was hit hard by the recession, with one of thehighest unemployment rates in the country at 15% in 2009. 

In oneof the most significant events in the county’s history, resident David Gundlachhas left his estimated $150 million estate to the Elkhart County CommunityFoundation, which will almost quadruple its current assets.  Gundlach declined to put any conditions onthe gift so the Foundation can use the gift however it likes.

Gundlachgrew up in Elkhart and moved back there shortly before dying of a heart attackat age 56.  He made his fortune bystarting his own car-insurance firm in the U.K., Hastings Direct, which helater sold for about $260 million.

See Brad Reagan, Giving: The Elkhart County Miracle, TheWall Street Journal, Sept. 19, 2013.