On March 20, 1897, Sebastian Spering Kresge and associates opened the first Kresge dime store in Detroit, carrying over 1500 items costing a dime or less. Kresge Store #1 would go on to become one of the top three such stores in the country, making Kresge very wealthy.
In 1924 Kresge established The Kresge Foundation, a non-profit organization whose income he specified simply “to promote the well-being of mankind.” By the time of his death, Kresge had given the foundation over $60,000,000
Source : Bill Loomis, On this Day in Detroit History (2016), p.49.
Also see S. S. Kresge wikipedia entry.
S. S. Kresge Obituary, New York Times, October 19, 1966.
Note: Kresge bought half-ownership in two 5 and 10 stores in Detroit and Memphis in 1897 with John G. McCrory; by 1899 he was sole owner of the Detroit store and went on from there to build a retail empire.