During the time of the Great Depression, a banker convinced struggling families in Quincy, Florida to buy Coca-Cola shares which traded at $19. Later, the town became the single richest town per capita in the US with at least 67 millionaires.

The Town of Coca-Cola Millionaires

A small town in Florida was once the richest town per capita in the United States, all thanks to one shrewd businessman who urged his fellow townspeople to invest in Coca-Cola shares while they were still cheap.

In the midst of the Great Depression of the ’20s and ’30s, a banker named Pat Munroe noticed that people were using their very last nickels to buy a bottle of Coca-Cola. At the time, the Coca-Cola company was trading for less than cash in the bank, and shares were remarkably cheap. Not only did Munroe invest in multiple Coca-Cola shares himself, he urged many of his Quincy, Florida neighbors to do so. He was a trusted banker, and many of them followed his advice. At $19 per share, shares were relatively cheap–so Munroe kept urgi… Continue Reading

Source: https://www.atlasobscura.com/places/the-town-of-cocacola-millionaires-quincy-florida