When lottery winners lose it all 😪

Love Money (msn.com, Oct. 31, 2021); Sheldon S., Ashley Wells (eds.), Wisdom Quarterly

From rags to riches and back again

Youth and drugs burn money up.

Believe it or not, statistics show that 70% of lottery winners end up broke, and a third go on to declare bankruptcy, according to America's National Endowment for Financial Education.

• Man wins lottery 20 times after purchasing 20 identical tickets

Runaway spending, toxic investments, and poor accounting can burn through a lucrative windfall in next to no time. From rags to riches then back to rags again is a sad ride. Read on to see the unlucky lottery winners who found out the hard way. More

Andrew Jackson Whittaker winnings: $113 million. In 2002, construction boss Andrew Jackson Whittaker won a whopping $314.9 million on the Powerball multi-state lottery and opted for a lump sum payout of $113 million. Plagued by bad luck...all the money had gone and Whittaker was back to square one. Source