With financial advisors, proper savings, and investments, winning the lottery can be gift. However, when drugs and lavish expenses come into play, the story changes. Today we count down the top 10 lottery winners who lost it all.
10. Vivian Nicholson: Back in 1960, Vivian won 152,000 pounds and spent it all on dresses, vacations, and new cars.
All of it down the drain. Then in 1998, Vivian had another big break, when the musical “Spend, Spend, Spend” was made about her life. She received money from it, and ironically spent it all again. Fast-forward to age 71 in 2007, where she is living on a weekly pension while simultaneously sending out resumes to companies.
She never received a job offer and passed away just last April.
9. Marva Wilson: In 2012, $2 million was cashed in from a Missouri lottery ticket by Marva Wilson. Marva herself did not spent the money on drugs or parties, but she did give her friend, Freya Pearson unrestricted access to her bank account. Two years later the money was all gone. Freya had used her friend’s winnings to buy cars, and vacations for herself.
No matter how good a friend you think someone is, never give them access to your bank account.
8. Gerald Muswagon: $10 million was won by Gerald Muswagon in 1998 after hitting the jackpot.
Like other winners, parties, cars, TVs, and drug use depleted Gerald bank account. Gerald even had trouble with the law and went to jail multiple times for sexual assault. Winning the lottery seems like it could never be a hardship, however, in 2005 Gerald decided to end his life, and hung himself in his parent’s garage.
7. Sharon Tirabassi: Like most winners, who blew off all their money, Sharon Tirabassi didn’t grow up wealthy. When she won $10 million she spent it all on cars.
Most famously a specialized Cadillac Escalade that was customized to her liking. She simply wasn’t used to managing money and now has to rent a home and work a part-time job just get food on the table for her and her children.
6. Jack Whittaker: This rare winner was already a millionaire before winning $314.9 million from the Lottery in 2002. Whittaker was proficient in financial spending, and even had a well-paying contracting business. However, after being robbed multiple times, spending money on strip clubs, and giving his granddaughter thousands, Whittaker found himself in a big financial hole.
To make things worse, his granddaughter was murdered during his financial downfall.
5. Lou Eisenberg: Living in a mobile home and visiting the dog track was how Lou Eisenberg lived most of his live up until hitting the lottery in 1981. His $5 million dollar payout was given to him in annual checks for 20 years, and for 19 of those years he lived like a star. It wasn’t until 2001, when he got his last check that he realized that all his money was gone.
Still, Lou “wouldn’t have done it any other way” if he had to relive the experience.
4. Alex Toth: According to Alex Toth, the best way to celebrate winning $13 million is to spend 3 months in a Las Vegas Hotel that costs $1000 a night. After Toth and his wife were done with the celebrity lifestyle in Vegas, they returned to Florida with their Children.
Back at home, Toth was attacked by the IRS for owing millions in taxes, and was also arrested for growing marijuana. Broke and without a home, Toth moved in with his son, and then died shortly after.
3. Bud Post: With only $3 in the bank Bud Post finally had his big break when he won $16.2 million from the lottery. After his family got the news, not only did his landlady demand a third of the winnings, but Bud’s brother hired a hitman to kill him.
The story doesn’t end after the unsuccessful murder attempt either. Bud spent off all his money on cars, boats, mansions, and even an airplane. For the record, Bud didn’t even know how to fly a plane.
Next, Bud decided to fire a gun on a bill collector, and had to serve jail time . What can we learn from Bud? Don’t buy a plane if you can’t fly it.
2. Callie Rodgers: At the young age of 16, Callie was the youngest person to win the lottery in the UK. However, the 1.9 million pounds she acquired back in 2003 didn’t last as long as she hoped.
Due to being a young woman, she spent her money on plastic surgery to better her appearance. In addition, she threw lavish parties that included a multitude of drugs. Still, 10 years later and without any of the money left, Callie is studying nursing, and says that she is “much happier now.” Although, she would probably be happier with some extra cash in her pocket.
1. David Lee Edwards: Before hitting the jackpot, David spent a good amount of time in jail for robbing a gas station. Then in 2001 he hit it big and won $27 million dollars. With his criminal life in the past and money to start a new life, things looked bright for David. Nevertheless, the lottery winner spent his new fortune on drugs, flashy cars, and even a jet.
The spending didn’t do any good for his health, and he eventually passed away. Unfortunately, not even a small sum of his money was left over, and his family had to cremate his body, because burying him cost too much. Hey guys fresh here and thanks for watching my video on 10 Lottery Winners Who Lost it All. For those of you on my channel that use twitter feel free to follow me @freshjiivetv, there will be a link in the description below. As always, don’t forget to like or subscribe if you already haven’t!