96-year-old secretary lived on coupons and subway rides. Her death revealed $9 million in her bank
Her family thought she'd lived an ordinary life until her will revealed millions set aside for students in need
The life of Sylvia Bloom is a perfect epitome of how extraordinarily remarkable an ordinary, run-of-the-mill citizen is. For nearly seven decades, Bloom walked through the subway station to reach a Brooklyn law firm where she worked as a secretary, not an attorney or even an assistant, just a secretary. Her life was what the life of an ordinary service worker looks like. But when she passed away in 2016, her family members discovered a fortune worth more than $9 million. When her niece Jane Lockshin read her will, she was left flabbergasted. For her, it was an “Oh my God moment.” Fast forward to the present day, Bloom’s thumping wealth is helping young students obtain college degrees, and doctors perform medical treatments across the country, according to May 2018 reports by CBC and the New York Times.
Behind-the-scenes riches
Bloom wasn’t expected to hold a melting pot of riches; just enough for a common citizen would accumulate during their lifetime. She and her husband, Raymond Margolies, lived in a rent-controlled apartment. Even during emergencies, such as on September 11, 2001, she walked home or, at most, took a bus, never cabs. None of her co-workers, not even her husband, suspected the esoteric, intelligent project that was running behind the scenes. None of them had any idea that, secretly, she was rolling in dough. Yet, throughout her life, she chose to remain modest, not flashy. She chose to live in a humble house when she could have purchased one on Park Avenue. She chose to dress up in Persian Lamb fur coats even though she could afford an Ermine one.
When she died at the age of 96, family members speculated that the inspiration behind her hiding this immense fortune probably stemmed from the time when she was struggling with money. As someone who witnessed what it means to live without money in the Great Depression, she had a profound desire to help those who were in need of money.
An intelligent strategy
Lockshin believes that Bloom succeeded in growing her wealth thanks to her sharp observation and intelligent investing actions. It was a time when secretaries were responsible for managing their bosses’ personal lives and investments. So while Bloom balanced her boss’ chequebooks, she took note of the stocks they purchased, and then purchased the same stocks in smaller amounts.
It wasn’t until her relatives read her will in 2016 that the truth came out. Only a small portion of her riches had been dedicated to them, and the bulk of it, approximately $6.24 million, was redirected to the Expanded Horizons College Success program at the Henry Street Settlement, which helps needy students complete their college education. In addition to the educational support, the money now serves more than 60,000 people across housing and health care programs, per CNBC.
The uncommon power of a common (wo)man
Americans donate billions of dollars to noble causes. The Annual Report on Philanthropy by Giving USA indicated that individuals, bequests, foundations, and corporations gave away more than $592.50 billion in 2024. Among these, individuals remained the largest source of charity (66%), followed by foundations (19%), and corporations (7%). Thanks to individuals like Bloom, America’s future is in safe and generous hands.
She minded her own business
In the present day, Bloom’s donations are helping the organization strengthen its college education program by guiding them with free counseling, SAT preparations, tutoring sessions, visits to college campuses, and assorted educational support, David Garza, Henry Street’s executive director, explained. Meanwhile, her family members, including Lockshin, view Bloom as a brave, fierce woman who lived her life on her own terms and left her wealth where she believed it belonged the most. "I realized she had millions and she had never mentioned a word," Lockshin told the Times. "I don’t think she thought it was anybody’s business but her own."
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