How would you invest $85m cash from lottery win?

Discussion in 'Chit Chat' started by a529612, Feb 28, 2007.

  1. (Fortune Magazine) -- Brad Duke, 34, a manager for five Gold's Gym franchises in Idaho, pocketed a lump sum of $85 million after winning a $220 million Powerball jackpot in 2005. He spent the first month of his new life assembling a team of financial advisors. His goal: to use his winnings to become a billionaire. Here's what Duke has done with his money so far.

    * $45 million: Safe, low-risk investments such as municipal bonds
    * $35 million: Aggressive investments like oil and gas and real estate
    * $1.3 million: A family foundation
    * $63,000: A trip to Tahiti with 17 friends
    * $125,000: Mortgage retired on his 1,400-square-foot house
    * $18,000: Student-loan repayment
    * $65,000: New bicycles, including a $12,000 BMC road bike
    * $14,500: A used black VW Jetta
    * $12,000: Annual gift to each family member
  2. That was cool.

    $33 mill on tonight, hehe...

    Ive heard of people using various systems, and doing pretty well- but they all spend shitloads on tickets, wonder how many he was working with?
  3. ????-----(1) He would get crushed in a deflationary scenario. The munis, oil & gas and real estate would all get trashed. (2) Each of those asset categories is very illiquid too. He ought to have more money in treasuries and/or a money market account.

  4. yeah what an ugly portfolio.
  5. Geez, you're not kidding..

    Shit, he would be better off buying an Arena Football team than that..
  6. I would just put it in a bank account and get paid 5% a year and go and enjoy life. You can live very decently for $4m a year.
  7. I second that. But you have a better chance making that in the markets than in the lottery.
  8. And nothing to the hedgies to play with?
  9. This lucky guy actually thinks his system had something to do with winning. And he wants to parlay it into a billion...

    Classic gambler attitude. :)
  10. I read an article some time ago where close to 80% of lotto winners end up bankrupt or dead within only a few years time. This due to the overwhelming amount of family and friends that come out the woodwork and the exacerbation of any pre-existing vices (drugs, alcohol, gambling, etc.)

    $12K bikes?!?!

    Used Jetta!?!?!

    There's a screw loose somewhere when a bicycle costs more than your car.
    #10     Mar 1, 2007