Picking the lucky numbers isn’t just for those who need the money. There are quite a few rich Powerball winner stories, too.
When you hear the countless stories about Powerball winners who came from humble beginnings, it can be heart-warming. Just the thought of a deserving person, who maybe once struggled financially, winning can almost take the sting out of not winning for yourself. You almost root for the underdog and celebrate the rags to riches jackpot experiences.
But there are some Powerball winner stories about wealthy individuals who struck gold, causing a complete contrast in public reaction. When the rich get richer, some people just get angry. If you’re one of those individuals, you might want to sit down before reading further. Today, we’re highlighting a few stories in which already well-to-do individuals added even more wealth to their stockpile in the form of a Powerball jackpot.
A trio of wealth managers from Greenwich, CT, won a $254 million Powerball jackpot, the 12th largest jackpot in the history of Powerball and one of the most significant windfalls in the entire state. The three men, already rich and successful before their newfound win, ended up taking home $104 million after taxes.
While the three wealth managers announced they would be donating a “significant amount” to charity, the public response was less than celebratory. Local news stories reported some of the sentiments as an insult, citing the general acceptance of poor people being more deserving winners. But the trio of men claimed to be just as excited about their one-dollar gas station purchase turning into a jackpot win. And as social media exploded with opinions, one of the men’s neighbors tweeted they “deserve every cent.”
Tim Davidson, one of the men, was responsible for buying the winning ticket. He spent much of his career in banking with expertise in New York, Paris, and London finance endeavors. Greg Skidmore was a sailing champion who had built his own wealth by working with his father’s Wall Street firm before transitioning to President of Belpointe Asset Management, the firm where all three Powerball winners worked. And Brandon Lacoff specialized in real estate investments, owning countless businesses and properties throughout the Connecticut region.
One of the more public stories of any Powerball winner is the rise and fall of Jack Whittaker. When he won, he was 55-years-old and already worth $17 million from his success as a construction entrepreneur. Whittaker’s Christmas day win had been record-setting $315 million that turned into a $113 million take-home amount. While his heart may have initially been in the right place, evident by his generosity with his boost in wealth, the surge in cash flow changed him over time.
This West Virginia Powerball winner’s luck changed. Uncontrollable circumstances, including the death of his granddaughter and the burning of his home, plagued Whittaker. And by the time of his unfortunate death in June of last year, he had endured having hundreds of thousands of dollars maliciously stolen from him, family tragedies, and even had been the victim of poisoning attempts. Some say in his final days, he had wished he had never purchased the Powerball ticket that fateful Christmas.
You may be of the opinion that Powerball jackpots should go to those who need it most. But in the end, playing Powerball is always random, offering the same opportunity for jackpot wins to everyone, including the wealthy. And the odds have proven to be favorable to these few rich men who won big and got richer. If anything, these wealth-to-wealthier stories should be reassuring that anyone can be a winner, regardless of the balance of your bank account.