With the Powerball jackpot reaching $1.5 billion, how does one cope with winning such a huge amount of money? The transition from regular Joe to millionaire overnight would strike a huge shock to even the most sensible individual. Suddenly, be it from one spin of the slots or winning the lottery, no longer will they have to worry about the rent or the bills or even saving for the occasional holiday. Ultimately, they are free from all financial constraints.
On one hand this liberty, or freedom, can produce a calming effect on an individual as they come to one with their new life. No longer do they rush through their weeks and drive down the days, begging for the weekend, the short reprieve. They are free to do whatever they want, whenever they like it. However, with great power comes great responsibility. Unfortunately, some simply cannot handle the financial liberty and spend their cash in rather absurd and controversial ways. It always pays to pay a financial advisor. Money, after all, often brings more money. Alas, for some, their arrogance leads them to whittling away their seemingly endless supply of cash.
Luckynuggetcasino.com is going to take a look at a couple of things in this article:
- What big winners can afford to spend the powerball jackpot on
- The best and worst big winners in history
Let’s take a look!
What could the biggest winners afford to buy?
Now, let’s suggest that you take the cash from the Powerball jackpot and run – that’s around $700,000,000 in total. The annuity payment would earn you more at just little more than $1 billion, but, you know, who can be bothered waiting? Now, let’s take a look at some of the insane things you can buy with that kind of cash.
Air Force One – $650 million
That’s right, you could afford your very own private jet just like the American President’s. Well, he never paid for it, but you know what we mean. If the idea of flying in a like-for-like executive jet then go ahead and splash your cash. Of course, getting your hands on the blue-prints won’t be easy and it might cause a little confusion at the airport, but who cares, you’re rich!
Included in your private jet is a conference room, a private bar and gorgeous vibrating array of recliner seats. You’re even getting a gym and a dining room. Remember, this is all occurring at 30,000 ft. Well, we say that, but you’re probably going to live in it, as you can’t really afford to do much else. It does cost $15 million to fly though – better start giving some tours.
87… And A Half Maybach Exelero Cars! – $ 8 Million Each
The Exelero is not officially the most expensive car in the world since it’s not exactly in production any more. This car was built well back in 2004, which, of course, actually increases the value of the car. If you was to buy it today, which you can’t, but imagine, then you’ll probably have to pay over $10 million.
So what are you getting for your money? Well, a 700bhp engine and a twin-turbo V12 all sounds well and good. However, the 6,000 lbs of luxurious amenities along with the fact that Birdman owns one is reason enough to shell out for this one-of-a-kind vehicle. You’ll probably have to pay a lot more than he paid though, because, you know, there aren’t any more. Money can’t buy you everything we suppose.
Katafanga Island, Fiji – $25 million
Ultimately a small chunk of your princely $700 million, Katafanga Island is the perfect retreat from all the attention you’ll be getting as a new millionaire. Imagine your own private island where people couldn’t afford to reach you. Miles out from anywhere else. Peace. Relaxation. Freedom.
Well the dream is a reality with this piece of real estate valued at around $25 million. This is one of the last islands that surrounds Fiji so you’d better move quick. Someone just as rich as you could snatch it from your grasp.
Hire Donald Trump For 2 Years – $350 million a year
Future Mr. President, Donald Trump is currently on a salary of around $250 million dollars a year. Now, to lure him from his current job he’s going to want a raise. We believe that you could persuade him to leave his current position at The Trump Organization for an extra $100 million dollars a year. He’s a greedy man you see!
What you do with him once you’ve hired him is entirely your own business. If you want value for money though, here’s a few tips:
- Make him take off his toupee* and twirl it around his finger
Actually, just make him do that. That’s great entertainment for money.
If he claims he doesn’t wear a toupee then make him shave his head and force him to wear a toupee. If he refuses, make him work at a toupee shop. Call him Donald Trump the toupee chump. The possibilities are endless.
The most expensive domain in the world – $35.6 million
Are you in the insurance game? Fancy owning the most expensive domain name in the world. Well, if you’re willing to part with $38 million insurance.com could be yours. Acquired in 2010, insurance.com was sold for big money to, well, an insurance provider, Insure.com, it’s supposed competitor, sold for $16 million in 2000 and business.com, for business people we think, sold for $7.5 million – you know, if you’re looking for something a little cheaper.
If either of these domains float your boat (I’ve never produced a geekier sentence), then you’ll have to contact them directly. It might cost you more than they initially paid for. It’s only business.
Well, now we’ve done looking at what you can buy, let’s take a look at those who went over the top!
Win big – lose it all!
Michael Carroll – $15 million
This is Michael Carroll from Britain who lost everything after winning $15.4 million on the lottery. He blew it all on a decadent tirade of house parties, gold chains and booze. Unfortunately, for the former bin man, his money eventually led to jail time.
It all started when Carroll won the lottery in 2002. Soon after winning he became a cult hero in Britain for his working class attitudes and his notoriety as the ‘King of Chavs.’ (CHAV stands for Council Housed And Violent).
Carroll was working as a part-time binman at the age of 19 when he won the lottery. The man from Norfolk, England, had no bank account at the time and a when attempting to open one with private bank Coutts, his application was denied. Instead, he went for the more common bank account with Halifax.
He initially started off humble and opted to purchase a three bedroom house next to the lake. Carroll was a keen fisher and decided he’d live a humble life. Unfortunately, this wasn’t to be, and was soon arrested for driving his $70K BMW without a license.
As he became more notorious, Carroll was invited to a celebrity boxing in which he officially drew. He then released a documentary in 2006 named Michael Carroll : King of Chavs, further increasing his fame. Eventually, the law caught up with Carroll and he ended up serving 9 months in jail for affray. Carroll, at this point, had 42 offences against his name. Carroll refused to acknowledge rumours about his lack of money.
In 2010, after many years of partying, drinking and drug taking, Carroll applied for his old job as a binman. He, of course, had no regrets in the way he spent his winnings. He now lives in Moray, Scotland and works at a Shortbread factory. It goes to show that winning the lottery can lift you up and throw you back down.
Lara Griffiths nearly lost it all after winning the lottery, but she denies regretting ever winning the top prize of $2.8 million.
The mother of two told British popular TV show Good Morning Britain nearly 100% of their winnings had disappeared from a combination of bad investments, a fire at their family home and the recession that trounced all over their investments. She even lost her husband through a bitter divorce.
The 45 year old is now divorced from Roger, who she won the £1.8 million with, and says even though she doesn’t regret playing, she is saddened by what she lost in the process.
Like most other families, Griffiths and her family to lavish family holidays to luxurious locations such as Dubai, Monaco and New York.
The then couple bought a $1.2 barn conversion and even bought luxury motor vehicles, including a Porche Carrera and a Lexus 4×4.
In 2010, disaster struck and destroyed their property in a matter of minutes. The family could only stand and watch as their fortune disappeared in front of their eyes.
Unfortunately, the couple were uninsured and had to pay for temporary accommodation for 7 months which further added costs. This strained their relationship, but Lara insisted they were fine.
Soon though, after finding questionable emails on Rogers computer, Lara accused him of infidelity. Roger denied all accusations, but instead revealed he borrowed against the family home and they were now bankrupt. This was breaking point for the couple and their relationship ended there.
Lara has now settled down in Harrogate, which is a town in Harrogate. The now beautician claims she is hopeful that one day, she will win the lottery and even admits to having a dabble every now and then.
She claims that since Roger won the lottery and she didn’t, she can claim she has never won. This, apparently, is luckier as the odds of winning the lottery twice are five trillion to one. Not a healthy figure to say the least.
The moral of this story is that even though you’re a wonderful person, bad investments and lavish spending can eat away at your fortune quicker than you think. It might seem like an endless pot of money, but, you know, that’s not true. Clever spending and investing is key to maintaining your new found wealth.
So, there you have it, our round-up of things you can spend your fortune on and past winners to learn from. Never, ever blow your fortune! Although, if you do win the Powerball, you’re going to bag yourself potentially $1.1 billion. If you mange to blow all that, well, then you deserve to be skint. Good luck!
*actually, closer research reveals Trump doesn’t wear a toupee. Shame, really, because I really wanted it to be.