23 Year Old wins $232 MILLION

kilowatt

Moderator
Messages
14,624
SD rancher wins $232 million jackpot
By CHET BROKAW, AP
51 minutes ago

Loading... Share No Thanks Must Read?Thank YouYes 526
Neal Wanless, 23, reads a statement as he claims a $232 million Powerball lo...
Email Story
Discuss
Print
Digg
Del?
Plaxo

PIERRE, S.D. ? If this were a movie, nobody would believe it: A rancher struggling to eke out a living in one of the poorest corners of America claimed one of the biggest undivided jackpots in U.S. lottery history Friday ? $232 million ? after buying the ticket in a town by the name of Winner.

Neal Wanless, 23, said he intends to buy himself more room to roam and repay the kindness other townspeople have shown his family.

"I want to thank the Lord for giving me this opportunity and blessing me with this great fortune. I will not squander it," he promised, wearing a big black cowboy hat and a huge grin.

Wanless, who is single, lives with his mother and father on the family's 320-acre ranch near Mission, where they raise cattle, sheep and horses. They don't own a phone, a mobile home of theirs was repossessed last year, and records show they have fallen $3,552 behind in their property taxes.

Wanless bought $15 worth of tickets to the May 27 30-state Powerball drawing at a convenience store in Winner during a trip to buy livestock feed. He will take home a lump sum of $88.5 million after taxes are deducted.

The Wanless home stands in a grove of trees in Todd County, home to the Rosebud Sioux Tribe. It was the nation's seventh-poorest county in 2007, according to the Census Bureau.

Dave Assman, who owns farmland next to the Wanless ranch, said he is happy the family won't have to worry about money any more. "They've been real short on finances for a long time," Assman said. "They are from real meager means, I guess you'd say."

"I hope they enjoy their money," said county assessor Cathy Vrbka, a family friend. "They work hard, backbreaking hard work."

Wanless' father, Arlen Wanless, 54, has made a living in recent years mainly by buying and selling scrap metal, but his fortunes dropped with the price of iron, said Dan Clark, an auctioneer from Winner and a friend of more than two decades.

The younger Wanless told lottery officials that he spent the last week working on the ranch and that he intends to continue that lifestyle, albeit on a larger piece of land. According to lottery officials, he recently told his horse, Eleanor, "It'd be nice if we go for a longer ride than usual on a bigger ranch of our own."

"My family has been helped by the community, and I intend to repay that help many times over," Wanless said. He gave no details.

An Oregon family turned $40 worth of tickets into $340 million Powerball prize in 2005, and at least four other winners collected larger jackpots than Wanless' prize.

The store where Wanless bought the winning ticket will get a $50,000 bonus. Sharon Ulmer, manager of the store, said she is glad the Wanless family won.

"From what I understand they don't have a lot, so the money definitely went to a good place," Ulmer said. "I know it went to a good home. They can use it."

___

Associated Press writers Carson Walker in Pierre and Dirk Lammers in Sioux Falls contributed to this story.
 
God, I hope he will throw a couple of bones Zigga's way so he can refurbish his friggin barn and move in it where he belongs. Oh wait, maybe the guy will get taxed enough so zigga can do the renovation.
 
I know I always buy $15 worth of lottery tickets when I am $3,500 behind on my property taxes. LOL

A young single guy that has been broke his entire life this guy doesn't have a chance when he falls into that kind of wealth. Odds say he will be dead or in rehab within 2 years.
 
"They've been real short on finances for a long time," Assman said.

....Assman....


Steve
 
WELL!!!

WOULD IT BE O.K. IF I ACTED LIKE RANS JUST ONCE AND CLAIMED THAT GUY HAS GOTTA BE MY CUZZ???

I HOPE HE'S A SHARRING TYPE A GUY!!!



SOMTIMES TO GET IN ON A PISSCUTTER IT TAKES SOME STEALTH!!!
I THANK MY FRIEND Feleno FOR THE STEALTH CAMO!!!

4a25cb9a7105a720.jpg


REMEMBER!!!

THERE'S ONLY ONE bobcat!!!
 
He wins $232 million and taxes are only $143.5 million? Leaving him with $88.5 million?

That's the trouble with America, the rich don't pay their fair share, according to the enlightened lefties. I'm sure Uncle Sam will really spend it wisely too!

Eel
 
232 million dollar jackpot and the kid takes home 88 mil. There ya go govt keep that up we'll be outa debt in no time.


-Cass
 
LAST EDITED ON Jun-05-09 AT 09:59PM (MST)[p]That is not how it works Gentlemen. The winnings were $232 MILLION. He opted for the cash settlement, which is around half the original pot, which makes it about $114-116 MILLION whatever that one is in the rules. Since he wanted to take the cash option, then he will have the max tax deducted from the $114-116 MILLION and winds up with $88.5 MILLION FREE AND CLEAR.
Some of the Lottery games have different rules, don't know what that game has.
Time will tell if he uses his head and not the one below his belt line to think with.
He should have taken the payments over a 20 or 25 year span, that way he would have x amount of money coming each year for that duration of time.
Brian
 
Maybe he didn't think that he could live on several million dollars a year for 25 years. A guy could do a lot with 88 million in his Bank of America account!! First thing I'd do is hire Willie Nelsons accountant to manage it all.

Steve
 
LAST EDITED ON Jun-05-09 AT 11:44PM (MST)[p]Or Leon Spinks' accountant. Last I read, he was sweeping floors for room and board.
 
I'd take the monthly payments for sure! That way there is no way you can blow it all right off the bat, but you can have fun blowing around $450,000 after taxes every month for the next 25 years!!!!
 
>I'd take the monthly payments for
>sure! That way there is
>no way you can blow
>it all right off the
>bat, but you can have
>fun blowing around $450,000 after
>taxes every month for the
>next 25 years!!!!


Believe it or not you can blow it. There was a documentary about lottery winners that lost it all and they get in wayyyy over their heads and companys will buy them out for a fraction of the winnings and of course collect the remaining 20 some years in payments while the lottery winner continues to go broke.

I saw the video of the kid reading statements about his big win and I hate to say it but he ain't real bright. He'll have people come running with their hand out begging for money and he will give it away. Good luck to him. Luckily you don't need to be bright to be a millionaire in this country.
 
I wasn't aware of the lump sum thing. Being 23, he blew it big time already, if that's what he did. Zigga's right, he must not be too sharp.

Eel
 
I wish him and his family the best and hope he does not get over his head and end up being taken.
Just because he took it in a lump sum does not mean he made a unwise choice. If he invests it propertly he stands to make more then if he took the yearly payments.
Another thing I would worry about is if the lotto goes defunct for one reason or another. He could have a tough time collecting all of his money down the line on yearly payments.
I would think about contacting Loyd's of London for a insurance plan if it was reasonable enough if I took the overtime payout.
He needs to get with a GOOD investment broker and let most of that money gain in value and live off a portion of the interest and that interest would be many millions per year.

RELH
 
RELH, if he invests it wisely? You mean like buying an old barn in Montana and fixing it up?:)

Eel
 
It's not for sale. It would strictly be a donation. Taxes are due this fall and I am taking mm donations for that. It should run almost $200 for the year. Please help. Large bills are accepted.
 
It makes way more sense to take the lump sum and invest it. You can end up with far greater than the $232m if you invest it carefully.
 
I bet by the end of the year he will have huge spread and be running his own ranch Now I can't see what 10 years down the road will bring but in the near future I see him running cows on a pretty nice ranch.

As I see it he tried ranching wthout money now he going to try it with money.
The bad part is he will still working his ass off.


"I have found if you go the extra mile it's Never crowded".
 
glad to hear that for them , I remember a few times it was pretty wealthy people winning many of them huge lottos, nice to hear someone who was very down on financial luck could win it...
 
The thing about taking the payments instead of the lump sum, is I would be worried the "lottery" will dry up and not be able to pay you, the way things are going. Take the 88 million and go away, collect interest and spend that. MY GOSH, I watched that curse of the lottery show, the one guy said he won 45 mil, collected something like 45,000 a day in interest in his investments. How could you make it????LOL You would have to work to spend that kind of money.
 
I would have to have an attorney read the fine print, but I think the 232 million would be put in an escrow account and given to you in 20 equal installments (11.6 million a year for 20 years). I don't think you have to worry about the lottery drying up? If you lived on 600K a year, you still have 11 million a year to invest, for 20 years. Right now I live on a little less than 600K a year.:)

I think they wave the lump sum in front of you hoping you'll take it, IMO.

Eel
 
I wonder if those 20 installments are inheritable? I don't know but if the winner dies they might stop. If you live a few years it'd be fine but if you step off a curb tomorrow and get hit by a bus your heirs might only get the first 11.6 million after taxes. Only. Just a thought.

Me? I want the lump sum. Put in one room. In small bills. So I can wallow in it. :)
 
Not sure about the Powerball rules, but CA Lottery, the winner gets paid over a 25 year period. AND YES, IT CAN ROLL OVER TO YOUR HEIRS.

Brian
 

Click-a-Pic ... Details & Bigger Photos
Back
Top Bottom