Tuesday 15 October 2013

6 Millionaires Who Ended Up Being Poor

poor man
Fantasies of a tycoon lifestyle appear to have a propensity of turning sour faster than a sub-prime contract. Detachment, drugs, crime, prison are some factors that lead to failure for those who fail to adjust, as this list shows:
1. Jack Whittaker
Born in 1947 in West Virginia, Andrew Jackson Whittakar won a lottery of $314.9millions in 2002 on Powerball jackpot. However, exactly after one year of winning the lottery the life of Jack took a U-turn for no reason. Thefts, arrests, lawsuits, death of his granddaughter and broken relationships became an integral part of his life. He nearly lost all the money he won in the lottery and in 2007, his wife admitted that the lottery prize brought nothing, but curse to her family.
2. William Post
William Post was the winner of $16.2 million in the Pennsylvania lottery in 1988. His experience after winning the money was no less than a nightmare for him. He later regretted that the event like that even happened to his life. He was sued by his ex-wife for a share in the money and his brother tried to kill him by hiring a hitman, so he could inherit the winning prize. Within a year of the lottery winning, he was $1million in debt. He hardly enjoyed the money he won. But at the same time, he faced a lot of trouble only for winning the money.

3. Janite Lee
Janite Lee is another lottery winner from Wales who also comes under the category of Millionaires who ended up being poor. She is a rare lottery winner who chose to spend most part of her wealth on others than herself. After moving into a million-dollar gated community in St. Louis with her family, she spent more than $620,000 on philanthropic efforts. Her political contributions and educational donations got her good recognition in the society. However, in less than a decade she filed for bankruptcy to put her debts to rest. In 2007 she filed for Chapter 7. At that time she had less than $700 in her name and debts of $2.5 million.
Source - oddtale.com

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