Savvy investor leaves $1 million to U of T
Among his family and friends, Worts Lennox Smart (BA 1935 TRIN) was well known for his financial savvy. So it came as little surprise when, upon his death, he left a $1-million bequest to the university for student aid. “When we were growing up during the Depression, the conversation at the dinner table was always about stocks – about who made money and who lost it,” a family member recalled.
Saving his allowance, the young Lennox began his investment career with penny stocks. Although he enjoyed a long and successful career as a Gulf Oil executive, investing was his first love.
“He read the daily papers and watched the stocks on television to decide on the best strategies,” said the family member.His greatest investment, though, might have been the significant donation to his alma mater. In addition to launching the careers of countless students, Smart’s gift has enabled the university to leverage matching funds under the Ontario Student Opportunity Trust Fund program. “He would be so excited to see this money double,” the family member commented. “Seeing $1 million flip to $2 million would have kept him happy for weeks.”