How Quincy, Florida Became A Town Of Coca-Cola Millionaires


The amazing, but simple, story of how everyday normal people in this small town became ridiculously wealthy thanks to Coca-Cola.


Pat Munroe


In the 1920’s a banker named Pat Munroe urged his neighbors in the small farming town of Quincy, Florida to buy Coca-Cola stock. He had noticed that even the poorest person would spend a nickel to buy the small luxury that was a bottle of Coke, and the stock price was right. Shortly after Coca-Cola’s Initial Public Offering (IPO) of $40 per share it had dropped to just $19 on news of a conflict the company was having with its bottlers and the sugar industry. It was selling for less than the amount of money it held in the bank!

Seeing such an incredible opportunity, he spread the word and issued loans to people to buy shares – the loans being backed by those same shares. He said to buy the shares and hold them forever, approximately 67 families did just that.

The dividends from these shares supported the families and the town during the great depression, Quincy soon became the richest town per capita in the whole of the USA. Most of the families ended up putting the shares in trust funds to protect the investment and passed the wealth down to the current generation. Pat Munroe had two wives during his life, and eighteen children. He was able to leave each child an inheritance worth $1,000,000 – pretty much all of it from Coca-Cola shares!

While many of the next generations of these families have left the small town (population 8,000), in 1996 it was estimated that people with a combined $375 million dollars in Coca-Cola wealth were still living there.

Here is the part that will blow your mind. If your great grandma had bought just one share of Coca-Cola way back then at $19 and reinvested all the dividends, it would be worth over $10,500,000 today! The yearly dividend would be over $355,000 – that is $89,000 every three months. The number of shares held in this example is in the ballpark of 253,500!

If she never reinvested the dividends and spent them instead, that one share would have turned into over 9,216 because of stock splits and be worth about $380,000 – still a great investment and plenty of spending money along the way!


Data from 2012

That was just what ONE share turned into. Imagine if she purchased more.

The power of compounding is evident in this story. What can you invest in today so that you can enjoy later on?

This post was originally featured on my Steemit blog. 

(This post may have contained affiliate links. There is no additional cost for you, but I receive a small commission. The money helps pay the bills around here. Thank you!)



  1. Arrgo

    Great story and a great reminder. If you can make smart investments and hold them for a long time the payoff should be huge. Ive never made big money at my job, but have been investing automatically for about 20 years. Its hard to believe how large my accounts are now. The funny part is I dont feel like ive put that much effort into it other than the going to work part of coarse.

    1. MrDD

      It’s really amazing how small things can be built up into a huge achievement over time. If you had nothing saved and someone told you that you needed to have as much as is in your accounts now it would seem nearly impossible.

      It’s kinda like a large structure, take the Great Pyramids for example. An awesome achievement for sure, but they were built block by block over a long time.

      What I really love about this story is that it showed what just ONE share of Coca-Cola and about 90 years grew into.

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