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Whew!!!  Its over and three someones won and will share $1.6 billion.  Of the $530 million each will receive. Federal and state taxes will take 40-50% of it leaving $260 million for each of the three.  The rest of us can get back to work and watch something else on the news.

The troubles have just begun for the winners.  Over half will get divorces and look for more attractive spouses, and then wonder if they just married them for the money.  Most will move to a new location so they don’t have face ugly comments from neighbors.  They will all have new unlisted numbers, and will cancel social media because everyone wants to be their friend.  People will pound on their door at all hours once their location is discovered.  Investment scammers will send mail by the bagful.  Many will spend wildly on multiple cars and homes, trips and new clothes. Many winners have spent all their prizes within five years, although these amounts are big enough that will be difficult.  Big wins are seldom the expected joyride.

And how do you find an accountant and financial advisors you can trust?  And how will you take care of your relatives?  And where will you bank? And what will you invest in with regard to stocks, bonds and income producing purchases?  The winners are from Florida, California and Tennessee.  Their story will unfold in the next few years. And did I mention that several big winners have been the victims of attempted murder and armed robbery.

Oh the joy.  They can spend the rest of their lives protecting their wealth and living in gated isolation.  And think of what all the money spent on tickets had been wisely spent in an improving economy.



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Director, Commonwealth Policy Center