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Case file s1295 · Money and markets · 2016
2016
Henry Street Settlement 263-267 Henry Street: 263-267 Henry Street between Montgomery and Grand Streets in the Lower East Side of Manhattan, New York City are part of the Henry Str
Henry Street Settlement 263-267 Henry Street. Beyond My Ken. CC BY-SA 4.0, Wikimedia Commons.
Died
2016
Place
Brooklyn, New York, USA
Field
legal secretary; private investor · Business and finance on the timeline
Legal tradition
New York law of wills; charitable bequest · Common law
Historical event
Post-war US bull market

A legal secretary bought the same stocks as her bosses for decades and left more than $8 million to scholarships, and her husband may not have known

Sylvia Bloom grew up in Brooklyn during the Depression and earned a Hunter College degree at night. In 1947 she joined the law firm Cleary Gottlieb Steen & Hamilton as a secretary. When her boss bought a stock, she bought the same stock in a smaller amount, her niece Jane Lockshin said. She rode the subway, lived for years in a rent-controlled apartment and had no children. Her husband, Raymond Margolies, was a firefighter who became a schoolteacher; he died in 2002. Lockshin said it was "very possible" that he did not know the size of her fortune. A colleague recalled her walking from the subway to the office in a snowstorm when she was still working at 96. She then retired to a senior residence and died in 2016. Her estate was more than $9 million. Her will named Lockshin executor and let her choose where most of the money went. In 2018 the Henry Street Settlement in New York received $6.24 million, the largest single estate gift in its history, for the Bloom-Margolies Scholarship Fund for low-income students. Another $2 million was split between Hunter College and a scholarship fund still to be named. Henry Street's executive director, David Garza, said he was "speechless."

What the law took from it

A will that leaves the choice of charity to a trusted executor can move a hidden fortune to causes the donor never named.

Sources
  1. CBS NewsPress
  2. fox26houston.comPress
  3. NBC NewsPress
  4. Wikipedia (English)Encyclopedia

Cite as: celebrity.estate, “A legal secretary bought the same stocks as her bosses for decades and left more than $8 million to scholarships, and her husband may not have known,” story s1295, https://www.celebrity.estate/sylvia-bloom-2016, updated 30 October 2026.

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