Son of Marriott Hotels President wins Lotto

33o4ncg.png
 
He also jipped himself like 40 mil by taking the cash payout. Thats just stupid
 
Originally Posted by Executive76

Originally Posted by SonOfTony

dude is bi-winning

let that boy cook

this.
He probably has more money than his dad now
laugh.gif
pimp.gif


Negative. These corporate presidents/CEO/COO's seeing million dollar salaries
 
Originally Posted by Kramer

He also jipped himself like 40 mil by taking the cash payout. Thats just stupid

Exactly... why did he just give up 40% of the winnings?
 
Originally Posted by Cant Break The Unbreakable

Originally Posted by Kramer

He also jipped himself like 40 mil by taking the cash payout. Thats just stupid

I would've done the same thing. 
$68.4 mil upfront after taxes > $4.1 mil/year for 26 years 
Plus smart use of your money will be >$107 after 26 years.  Cash up front is the only way to go.
 
Originally Posted by Cant Break The Unbreakable

Originally Posted by Kramer

He also jipped himself like 40 mil by taking the cash payout. Thats just stupid

I would've done the same thing. 
$68.4 mil upfront after taxes > $4.1 mil/year for 26 years 
Same here, I'd take the lump sum over the 26 annual payments. What if I die in the next couple of years, I am not 100% sure on this but I think the lottery keeps it since the winning is most likely non-transferrable. 
 
Originally Posted by Cant Break The Unbreakable

Originally Posted by Kramer

He also jipped himself like 40 mil by taking the cash payout. Thats just stupid

I would've done the same thing. 
$68.4 mil upfront after taxes > $4.1 mil/year for 26 years 
Debatable.

I'm about to start playing the lotto more frequently.
nerd.gif
 
Originally Posted by RFX45

Originally Posted by Cant Break The Unbreakable

Originally Posted by Kramer

He also jipped himself like 40 mil by taking the cash payout. Thats just stupid

I would've done the same thing. 
$68.4 mil upfront after taxes > $4.1 mil/year for 26 years 
Same here, I'd take the lump sum over the 26 annual payments. What if I die in the next couple of years, I am not 100% sure on this but I think the lottery keeps it since the winning is most likely non-transferrable. 
I guess that's a good point. Id still be down wit 4 mil a year though ha.
 
Originally Posted by Kramer

Originally Posted by RFX45

Originally Posted by Cant Break The Unbreakable


I would've done the same thing. 
$68.4 mil upfront after taxes > $4.1 mil/year for 26 years 
Same here, I'd take the lump sum over the 26 annual payments. What if I die in the next couple of years, I am not 100% sure on this but I think the lottery keeps it since the winning is most likely non-transferrable. 
I guess that's a good point. Id still be down wit 4 mil a year though ha.

$4 million a year is an extremely high amount of money... what is anyone going to do with $68 million upfront?

Unless you want to make an extremely large purchase like a G6 jet, I don't see why you'd want all the money right away. If anything, you'd be less likely to squander all the money receiving it yearly just because you don't have all of it at once.
 
Originally Posted by scshift

Originally Posted by Kramer

Originally Posted by RFX45

Same here, I'd take the lump sum over the 26 annual payments. What if I die in the next couple of years, I am not 100% sure on this but I think the lottery keeps it since the winning is most likely non-transferrable. 
I guess that's a good point. Id still be down wit 4 mil a year though ha.

$4 million a year is an extremely high amount of money... what is anyone going to do with $68 million upfront?

Unless you want to make an extremely large purchase like a G6 jet, I don't see why you'd want all the money right away. If anything, you'd be less likely to squander all the money receiving it yearly just because you don't have all of it at once.

Put that on a savings or CD account and let it incur interest. I can probably live off of the interest alone. 
I can open up a store, invest in something, start a company, etc... 

Just because you get it all in one lump sum doesn't mean you have to spend it all. 

And like I said, anything can happen. If I die early, no one else gets to enjoy the money with the annual payments. If I have all the money in my bank, I can put it in my will to give it to my family.

I mean seriously, $4mil is a lot of money but if you get too rash, you can easily go through that in 6 months. I mean how are you going to get your $3mil Lambo Sesto with $4mil a year? You'd have $1mil left, which is probably going to be $500k after all the taxes you need to pay, new house, etc....
 
I could live off the interest of $68m not even touching the principal. That's what.
 
Wait, he doesn't get 4 mil a year if he chose the annual payment. Won't they take tax outta that also?
 
By the way the lump sum is cash before taxes.. So it is $68 then taxes..

By taking lump sum after 26 years he actually ends up with close to the max payout if he is even relatively smart with his money.. And considering who his father is he will have every opportunity..

$44.6 after taxes with the lump sum.. By taking payments you have $68-69 after 26 years after taxes..

Even if he has a weak 2.5% growth of the $44 mil it is close to an extra $30 million after 26 years.. And he will get a few tips here and there that will far exceed a minuscule 2.5% growth..



A quote I've heard a million times not concerning the lottery "Always ask for the money up front"
 
Back
Top Bottom