Billion Dollar Lottery thread

[480 Ruger]

Yes.

I believe that's a bit of the reason that Jack Whittaker had such problems after he won over $300M. One of the first things he tried to do was give a bunch of money to various acquaintances and his church. He was incensed to discover that gifts could be taxable. At the time, he ranted during at least one news conference on the unfairness of anyone having to pay gift taxes since he had already paid taxes on the money once. I always felt (and this is just my theory) that his attitudes toward legal authorities went to hell after that.

Of course, I don't think he ever complained about the taxes that were presumably paid by all the strippers he showered with cash. Or the people who picked up the money he would throw out the window of his new Lamborghini.

Whittaker's story is nothing but heartache and serves as a great cautionary tale about what can happen when someone who is completely emotionally ill-equipped to win anything gets millions of dollars dropped into their lap.

I believe he was already wealthy before he won the lotto. He already had a helicopter, wish he would have willed to @Hoji

 

[benenglish]

I believe he was already wealthy before he won the lotto.

He had a successful business and was well established. But even someone like that can be knocked out of kilter when they get $300M+ dropped in their lap.

 

[gll]

Considering all the headaches and pitfalls, I'm genuinely glad I didn't win, and I hope I don't win the next time I play the lottery too...

 

[ZX9RCAM]

Winner Of $1.28 Billion Lottery Gets $433.7 Million After Tax

Also a little bit about the kind of stuff Ben said is mentioned.

 

[kbaxter60]

But even someone like that can be knocked out of kilter when they get $300M+ dropped in their lap.

I am still skeptical.
You will have to prove it to me .

 

[benenglish]

I am still skeptical.

In his case, the guy was worth ~$17M before he won. He seemed to have his head on fairly straight even though he was known to be a little wild/crazy/eccentric and far from the smartest guy in the room. The windfall just put his faults into high gear and on public display.

After he won, he delivered embarrassing public rants about taxes; he just looked stupid and unable to plan ahead how to handle his money. He blew millions in strip clubs and got rolled in or around strip clubs more than once. On at least three separate occasions, his car was robbed when he left $545K, $200K and $100K in cash inside his unattended car. Those thefts were each a very public embarrassment for him; everybody now thought him a fool. Yet he repeatedly left large sums in his unattended vehicle, even at strip clubs, and every time he was proved a fool, everybody around him knew about it.

His behavior became erratic in other ways, too. For example, driving around in a new Lambo and throwing money out the window might seem like harmless fun but when you really think about it, it takes someone becoming truly unmoored mentally to do something like that.

At least he could take solace in family, right?

He had a daughter that he presumably loved and a grand daughter who was the light of his life. He shoveled tons of money to them. The result? First the grand daughter, then the daughter allegedly overdosed on drugs and died. He blamed himself for facilitating their downward spiral and, especially in the case of his grand daughter, he deserved much of the blame. He had put her on some ridiculous monthly stipend and because she was then suddenly rolling in money, shady characters flocked to her. Ultimately, her body was found wrapped in plastic and stashed behind a van, which was kind of an odd way for a victim of an accidental drug overdose to be found. Whittaker knew it was his money that had given her access to all the drugs she wanted and that attracted the lowlifes in whose presence she presumably died. It didn't take a genius to understand that only true lowlifes would wrap her body in plastic and just throw it away. No one was ever charged but he was tormented by the guilt of it all until he died. After all, his money and the way he threw it around was a prime enabling factor in the death of his beloved grand daughter. That death seems (we'll never know for sure, I acknowledge) to have broken the man.

It was no surprise when he went through a very contentious divorce and bounced checks at casinos. I could go on but I hope you get the point.

He and his life became a complete mess because he hit the lottery.

At one point, he said he wished he had torn up the ticket.

You will have to prove it to me

No, I can't prove that Whittaker was knocked off kilter by all that money. No one can prove that, especially since most people who knew him seem to acknowledge that he was half a bubble out of plumb to begin with.

Still, I think it's a reasonable theory to say that giant sum pretty much ruined his life. That's the only reason I can imagine why he'd publicly state he wished he'd never won.

 

[ZX9RCAM]

Single Ticket Holder Who Won $1.3 Billion Mega Millions Jackpot Last Month Still Hasn't Claimed Prize

 

[karlac]

Single Ticket Holder Who Won $1.3 Billion Mega Millions Jackpot Last Month Still Hasn't Claimed Prize

Better hurry, by the time Brandon and his new IRS agents get finished it won't buy a Keurig cup ...

 

[deemus]

It takes time to get the proper entities and accounts set up.

 

[Wudidiz]

I am starting my list of things to buy in case I win the lottery. A Wilson Combat Limited 10, Nighthawk Custom VIP, Les Baer Limited Edition, and a Ed Brown Jeff Cooper Commemorative.

 

[Coiled]

You've spent maybe 25 large and it's just 0900, what are you gonna do with the rest of your day?

 

[Vaquero]

You've spent maybe 25 large and it's just 0900, what are you gonna do with the rest of your day?

Find a truck and walk away broke but with no debts.

 

[Coiled]

Find a truck and walk away broke but with no debts.

Another 1200 down the toilet, now what? Lol

 

[Coiled]

I thought I misremembered the lyrics and it was Million $$ baby.
AC was a trend setter, or a dreamer.

 

[ZX9RCAM]

Vincent Fornier.

 

[Coiled]

And the sign said “Long-haired freaky people
Need not apply"

 

[benenglish]

OK, there's another lottery over USD$1B. I reiterate my pledge to build a central TGT home range if I win it all.

 

[Tnhawk]

I'll get one ticket. No need to get several.

 

[gll]

My ticket was a loser...

 

[Lonesome Dove]

A whole lota Bitcoinage.