Legal Secretary Leaves $9M for Scholarships After 67 Years

Sylvia Bloom spent 67 years taking the subway to her Wall Street job, living in a rent-controlled apartment, and never mentioning she was a millionaire. When she died in 2016 at age 98, her niece discovered accounts holding more than $9 million spread across three brokerage houses and 11 banks.

Bloom started as a legal secretary at Cleary Gottlieb Steen & Hamilton in 1947, when the firm was brand new. The daughter of Eastern European immigrants, she earned her Hunter College degree at night while working during the day.

Her wealth-building strategy was simple but brilliant. Whenever her boss bought stock, she'd purchase the same investment for herself in smaller amounts that fit her secretary's salary. She did this quietly for nearly seven decades.

Even at 96, Bloom walked through a blizzard from the subway to her office. Her husband, a firefighter turned teacher, likely never knew what she was worth. Nobody did.

Why This Inspires

Bloom always regretted not attending law school. So her will directed most of her fortune toward students who couldn't otherwise afford college.

Her niece, Jane Lockshin, called the Henry Street Settlement executive director and asked if he was sitting down. The organization received $6.24 million, the largest individual gift in its 125-year history. It became the Bloom-Margolies Scholarship Fund.

Another $2 million went to Hunter College and a second scholarship program. Bloom turned a lifetime of modest investments into educational opportunities for hundreds of students who face the same financial barriers she once did.

The woman who rode the subway for 67 years is now sending others to college.