Milton S. Hershey (1857-1945) – American Confectioner & Philanthropist
Milton S. Hershey is the founder of The Hershey Chocolate Company and the “company town” of Hershey, Pennsylvania. In 1918, Hershey transferred the majority of his assets, including control of the company, to the Milton Hershey School Trust fund, to benefit the Industrial School. The trust fund has a majority of the voting shares in The Hershey Company, allowing it to keep control of the company. In 1951, the school was renamed the Milton Hershey School. In 1935, Hershey established the M.S. Hershey Foundation, a private charitable foundation that provides educational and cultural opportunities for Hershey residents, i.e. the Hershey Museum and Hershey Gardens, the Hershey Theatre and the Hershey Community Archives. The founding of the Penn State Milton S. Hershey Medical Center was a gift from the Milton Hershey School Trust, with an initial endowment of $50 million and only one restriction – the hospital had to be built in Hershey. The hospital is a teaching hospital.
We honor Milton S. Hershey because his philanthropic work makes him a Legacy Champ. If you want to be a Legacy Champ in your own special way, then contact The Mendel Law Firm, L.P. for a free initial consultation on estate planning, trust planning, and/or probate issues.
Latest posts by Stephen A. Mendel, Estate Planning Attorney (see all)
- Do I Need to Include Retirement Planning in My Estate Plan? - July 15, 2019
- Texas Trivia- Who played the lone survivor of the Alamo in “The Man from the Alamo?” - July 12, 2019
- Staying Current on Estate Planning - July 9, 2019