My understanding was he was a nightshift line worker for ZF Transmissions and walked out when the numbers were announced.
My sources are saying it was a guy working at a McDonalds who started a conga line that stretched for a mile and a half where each person kicked his boss in the nuts.
I was thinking, what a great story if it is a life-long nemesis of the store clerk. He is going to refuse millions in effort to prevent that guy from getting 50k. In our current world, it could happen.
I don't think you can remain anonymous, but the way around that is to create a trust that forms another trust when you accept the money.
I’ve always though that a good premise for a bad movie would be if friend A buys a lotto ticket and friend B buys 100 tickets all with the same number as friend A, just as a prank or when he was drunk or something. Then those numbers win and friend A makes a little bit of money and friend B gets rich and the next 80 minutes of the movie take place. I envision this movie being like the Jack Black/Ben Stiller movie Envy, which was bad.
there are some good stories (cases) out there where a group of ppl won the lottery but for various reasons didn’t want to include one of the members. Here is one: https://abcnews.go.com/Business/ohio-man-sues-workers-win-lottery/story?id=14453878
A couple years ago when my wife was a kindergarten teacher one of the other teachers started a lottery club. They foresaw this eventuality and drew up some "bylaws" which were kind of cute because they were written the same way you'd write rules for a first grade classroom. It was probably the smart thing to do but I think the club only lasted one week.
I think the general ideas behind waiting so long are 1) to get your affairs in order and everything squared away to receive such a large sum of money and 2) because people generally stop giving a shit about who won the lotto several months ago. That second part is probably still true to a certain extent but less so when it's a win of that size.
You could definitely find banks that would lend you plenty of money with very low interest (if any interest at all) if you had a winning lottery ticket you could show them. Not like you'd have to keep living the same life while you waited to claim the money. Most banks would literally beg you for the opportunity to touch that money.
That's certainly something that could happen. I'd find a really nice and quiet beach somewhere and pay some locals to keep sharks away from me while I waited.
Not really. Gilbert Arenas had 3 houses at 12%+ interest and he was on a $100m contract. Banks dont just toss their lending guidelines to the side.
Trust me, it wouldn't be a problem. The rules are a little different when it's someone 100% guaranteed to receive several hundred million dollars in one lump sum.
I literally do mortgages for a living. Its not different. Them getting money doesnt mean the bank will get theirs. There is still a lot of risk for the bank. And that's with a house involved for collateral. lol at a bank just giving them a ton of unsecured money at no interest for them to live on. It doesn't work that way.
Yep, there aren’t plenty of groups that will pay you up front for some of your annual payments if the payment option is taken.
Once its received and you can show the schedule, sure. They aren't floating it to you bc you say you have a ticket.
Fairly certain car dealerships were murdering each other to lend LeBron’s mom money for his pre-Nike, high school hummer.
Bank dont just lend money super cheap money for shits and giggles. Like a Merrill Lynch customer with $10m invested with them can get a $1m mortgage at like 4% and ML will stip he has to keep at least $1m on their books as long as he has the mortgage. You and I can get like 4.75% so even his $1m on their book guaranteeing that loan doesnt get him access to free money. It just doesnt work that way. And you can have a $1m IRA but if you dont have monthly disbursements set up it doesnt help you at all with a $50k mortgage. It's an asset, cool, but it doesnt count as monthly income.
Mortgage lending is entirely different. But I'd imagine you've also never seen someone with a winning lottery ticket in hand when doing mortgages. If you work for a large bank, I'm sure they have a private banking side. If it's like most banks, they would absolutely do it if you could let them see/verify/hold onto a winning state lottery ticket for hundreds of millions of dollars. They'd do it in hopes of getting further business from you and it's as close to a guarantee as it gets.
You are completely wrong, yet again. You've only originated with a mortgage company, or a lender & never a bank. There are different rules for the affluent & mega affluent... Banks have portfolio products for them. I basically had to give handies to Chase Private Client customers, which are the bottom of the barrel, only requiring $250k in assets. I would have had to give up my virgin, hetero ass to a Private Bank client
Something something British “Pound” Sterling something something, I can’t quite form the joke to fit you, but I tried.
You think someone floated this guy $10m or whatever at no interest to buy a house and another couple hundred grand for pocket money when he has no income and $50 in his checking account and no proof of future income? I just dont see it.
He has proof of a one time lump sum of several hundred million dollars. That is even better than future income because it's guaranteed and all at once. They don't have to worry about him being employed or alive in 11 months. When you think about it, there probably isn't much better collateral than a winning lottery ticket. This isn't Fannie Mae deciding whether to lend. In this hypothetical, it's a bank who can theoretically do whatever they want with their own assets.
If you were the person who claimed this ~$490MM today and decided to build your dream home (primary residence) that you intended to live in for the rest of your life, what unique or uncommon features or amenities would you have built into your home? For instance, you'd surely have a home theatre but would you have a sauna? A golf simulator? Putting green? Basketball court? Anything particularly unique come to mind?
On a smaller scale I can tell you that banks (specifically BOA) does this for future expectation income, ie athletes, musicians. No collateral. Or at least did. His proof of future income is the ticket, no?
You fail to realize the lengths banks will go to gain access to that amount of investment. I was giving handies for $250k... $850M equates 3400 to handies Oh, the tendinitis
I worked in private wealth at the start of my career. dblplay1212 is exactly right here. Jorts I will fight you if you ever open your whore mouth in vain regarding the sweet sweet nectar that is Creature Comforts