TheRichest.com

15 Lottery Winners Too Dumb To Stay Rich

Whether you want to believe it or not, money is the most important thing in the world, seeing as we require it in order to acquire and maintain most of the things that we need to survive. This stateme

Whether you want to believe it or not, money is the most important thing in the world, seeing as we require it in order to acquire and maintain most of the things that we need to survive. This statement should come as no surprise, considering that people need money to provide important things such as shelter, food and medication if needed, and we also need money to buy all sorts of trivial things, like electronics, furniture and brand name clothing. The quality, quantity, and overall price of goods that are bought, depend heavily on what a person’s economic standing is, seeing as those who make minimum-wage cannot afford most of the things that millionaires can, which is why most people dream of becoming millionaires, and why things like the lottery exist.

There are several forms of lotteries, but the most widely played is the one which requires the numbers on your ticket to match the series of random numbers that are drawn by a machine within the lottery’s headquarters. The reason why these kinds of lotteries are played by so many people is because they generally offer the biggest jackpots, jackpots which are usually above the $1 million mark. Depending on where you live, the odds of actually winning the lottery are extremely slim, as odds can range anywhere from 1 in 14 million to 1 in 290 million, which makes those who actually win the lottery some of the luckiest individuals on the planet.

Becoming an instant millionaire via the lottery may be viewed by some as a miracle, but in many cases, those who win tend to enjoy their wealth for only a brief period of time, as spending choices usually cause people to lose all, if not most of their winnings. Here are 15 lottery winners who were too stupid to remain millionaires.

15 Lisa Arcand

via lottotime.com

14 Denise Rossi

via cocomy.net

13 Marva Wilson

via kshb.com

12 Willie Hurt

via turner.com

11 Callie Rogers

via dailymail.co.uk

10 Suzanne Mullins

via twitter.com

9 Martyn & Kay Tott

via mirror.com

8 Evelyn Adams

via ebaumsworld.com

7 Lou Eisenberg

via nydailynews.com

6 Gerald Muswagon

via dailydisclosure.com

5 Sharon Tirabassi

via thestar.com

4 Michael Carroll

via My Collections.com

3 Janite Lee

via Channel 42.com

2 Billie Bob Harrell Jr

via ABC13.com

1 David Lee Edwards

via gossipextra.com

This list has shown individuals who have gone on huge spending sprees after winning the lottery, but David Lee Edwards went on such a massive spree, that he rightfully belongs here at the number one spot. Edwards was a part of a group of four people in 2001 who won a Powerball jackpot of $280 million, and as a result, he himself ended up making $27 million after taxes, and after just one year, he managed to spend nearly half of all his winnings. In that year, he bought a house valued at $600,000, a bunch of new cars whose combined costs were over $1 million, an absurd amount of antique medieval weapons which included 200 swords, a watch that cost $78,000, a personal jet which had a price tag of $1.9 million; and a fiber-optics company valued at $4.5 million. This level of spending may have not continued, but for the next four years, Edwards continued to frivolously spend his winnings, to the point that when he passed away in 2006, there was virtually no money left.

Sources: , 

Give TheRichest a Thumbs up!

Looking for an AD FREE EXPERIENCE on TheRichest?

Get Your Free Access Now!

More in Shocking

15 Lottery Winners Too Dumb To Stay Rich