Learn How A $27 MILLION Jackpot Winner Went Broke In 5 Years

I think a lot of you don't think or take in to account taxes when we toss these numbers out. A lot of these times the number you read needs to be cut in half due to taxes.

Uncle Sam comes for that paper
 
This dude's whole story is crazy.

He's from my hometown.

The one fact that rarely gets told is ol' dude did jail time for robbing a convenience store prior to winning the lottery.

He bought his winning ticket from the same store he robbed in the past.

I know it's easier said than done, and no I didn't walk in his shoes, but once he won, it was no secret to anyone that had any knowledge on the subject that his money wouldn't last.

I do think he netted $27m after tax. He was 1 of 4 winners of a $280m jackpot. But they way he went about spending you would've thought he planted money trees in his back yard that would never quit making money.
 
I wouldnt buy a jet, helicopter, drone, etc with less than 100 mil. AFTER taxes.

Hell, i wouldnt buy one anyway. A discreet house, some nice cars, some guns and im set.

Half a mil on an alarm system :stoneface: **** better be able to keep SWAT and narcs out the crib.
 
heLiumcLinton said:
I swear I would only buy my mom a house and a SLS, I have everything I want/need already.
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This

Moms doesn't even need a house...prob just upgrade her
But id pay off my debt and buy some property...thats about it

I'd probably end up giving most of it away honestly. Id have 1 NT thread a month "tell me a cool story and il send you da hemi"
 
Buy a house, trade on my XF for a truck, break the parents off, save a chunk of it, invest most everything else.
 
Ehh, can't say I feel sorry for hi,. Dude had millions and still managed to be in debt to friends and family.
 
Half would go to my parents so they can retire and travel the world.

A quarter to my bro.

A million to my aunts, uncles, cousins, etc.

Another million to charity

Pocket the rest.

I would probably keep working in order to keep me sane. I got everything I want/need
 
Blowing it. Putting half away in good investments, house, folks, family trust, real estate, start some charity trusts. But me a little farm so I don't fall to hard. Minding my tax burden...then the rest of it will be absolutely blown. I'm ballin out with at least 12 of that, just to say I did it. No hard drugs though...that'll come with age not money. I don't need to die with 27mil impersonal assets. As long as my taxed are paid and my family is straight, nothing else matters to me.
 
Real life brewsters millions alternate ending 
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Dude bought a jet.:rofl:

I don't think he factored in the money that needed to be spent to maintain that kind of lifestyle. No foresight.
 
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i think whats worse than him dying is that out of the 27 mil he won, im sure he didnt leave any of it for his fam.

i know if i won big money like that id take care of moms and and my bro. put some money in a trust fund for my nephew at least. 

i think the lottery offers lump sum or prorated money over a span of 20 years. i wouldve taken a couple mil upfront then have the rest in payments over the course of my life.

then again 27 mil aint what it used to be, word to latrell sprewell " i gotta feed my family" 
 
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I just don't get how these things happen. I really don't. I would do some baller **** if I won big, but no way would I blow it all.
 
Ghenges said:
I hate to generalize but I'll say that people who play the lottery regularly are not smart with money to begin with.
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It's $1
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Saw this story a few years ago. He was living it up. This was the eventual outcome when a criminal and addict got this kind of money.
 
The damn plane was too much. Also notice how the woman left him when they went broke.
 
Plane, fuel & maintenance is prolly what made him go broke, what an idiot!

I'd just cop an M6, nice crib next to the beach and CHILL. Still have 25 Mill to last about 20 years.
 
Rell826 said:
Ghenges said:
I hate to generalize but I'll say that people who play the lottery regularly are not smart with money to begin with.
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It's $1 :rolleyes

Saw this story a few years ago. He was living it up. This was the eventual outcome when a criminal and addict got this kind of money.
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Not even the lottery winners but people PERIOD aren't smart with money when they are making normal income. All you have to do is look at the avg credit card debt people in this country have, and the small avg savings acct, if any at all, that people have.

Doesn't shock me when these things happen, people think those extra zeros are there for life without an ounce of planning :smh: I don't really feel bad for dude he balled out I hope he had fun and made terrible decisions...there are others who make much less in a lifetime who do much more for others not just buying cars for friends or drugs. You have to have a plan set out when you come up like that and win a lotto...sure you can indulge and even get a Bentley or a Lambo if you really wanted, party, etc. but a damn JET?!?!? :rofl: that's beyond shortsighted and unintelligent.

If you aren't good at budgeting with avg money how the hell are you gonna manage MILLIONS...like take a small corner store owner and put them as CEO of a Fortune 100 company, things aren't gonna end well for you 99 times out of 100. If you just had some foresight and sat down with a reputable planner you could turn 5 mill of that into 7.5 or more by just investing it and have even more money to play with.

I say the same thing with some athletes.....how many damn cars and square feet do you reallllly need?! Have like 1 or 2 people living in a 10,000 sq ft mansion :stoneface: :stoneface: :stoneface: . A fool and his money are soon parted
 
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