Benjamin Franklin, in his will, left £1,000 pounds each to the cities of Boston and Philadelphia, with the proviso that the money should be invested for 100 years, with 25 percent of the principal to be invested for a further 100 years.
Also of note is that he gave conditions on the investments; the money was to be lent to married men under 25 who had finished an apprenticeship, with two people willing to co-sign the loan for them. So in that regard it was something like a modern microlending program, instead of just trying to maximize returns for benefits in the future.
Also of note is that he gave conditions on the investments; the money was to be lent to married men under 25 who had finished an apprenticeship, with two people willing to co-sign the loan for them. So in that regard it was something like a modern microlending program, instead of just trying to maximize returns for benefits in the future.