Friday, April 17, 2009

Can scavenger was a multi-millionaire

"Tin-Can" Curt Degerman, a well-know aluminum can scavenger in the Swedish town of SkellefteƄ, was apparently a multi-millionaire when he died last year. He was very thrifty and a very shrewd investor, to say the least.

From Sweden's The Local:
“He went to the library every day because he didn’t buy newspapers. There he read [Swedish business daily] Dagens Industri,” a cousin (of Degerman told the Expressen newspaper).

“He knew stocks inside and out.”

And Tin-Can Curt used that investing know-how to turn the modest deposits he collected from returning empty cans into mutual funds worth more than 8 million kronor.

In addition, he had purchased 124 gold bars currently valued at 2.6 million kronor and had nearly 47,000 kronor in the bank.

Tin-Can Curt also owned his own home, which was found to have 3,000 kronor in loose change, bringing the total value of his estate to 12,005,877 kronor.

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