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Here's Mark Cuban's advice for whoever wins the $1.5 billion Powerball lottery

Discussion in 'Off-Topic Discussion' started by Sean266, Jan 13, 2016.

  1. Jan 13, 2016 at 10:49 AM
    #1
    Sean266

    Sean266 [OP] #ThinBlueLine Staff Member

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    The Powerball lottery has reached a record high of $1.5 billion.

    On Wednesday night, someone might win the jackpot and — even if they don't actuallytake home $1.5 billion — become incredibly rich in a matter of moments.

    Billionaire Mark Cuban has some idea of what that's like.

    Cuban recounted the moment he became a billionaire on an episode of James Altucher's podcast: "I was sitting in front of a computer, naked, hitting the refresh because we were close — waiting until my net worth hit that billion when the stock price got to a certain point, and then I kinda screamed and jumped around and then got dressed."

    Years later, what would he advise a newly minted multimillionaire or billionaire?

    Business Insider reached out to Cuban to ask about his tips for potential lottery winners, and he shared the advice he gave his local paper, the Dallas Morning News:

    • [The first thing you should do is] hire a tax attorney.
    • Don't take the lump sum. You don't want to blow it all in one spot.
    • If you weren't happy yesterday, you won't be happy tomorrow. It's money. It's not happiness.
    • If you were happy yesterday, you are going to be a lot happier tomorrow. It's money. Life gets easier when you don't have to worry about the bills.
    • Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.
    • You don't become a smart investor when you win the lottery. Don't make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won't lose money.
    • He also shared one last bonus tip with Business Insider: "Be nice. No one likes a mean billionaire. :)"

    Source
     
    Last edited by a moderator: Jan 13, 2016
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  2. Jan 13, 2016 at 10:59 AM
    #2
    csuviper

    csuviper Moderator Staff Member

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    Oh yea all the relatives and friends will guarantied be looking for something. I'm sure all Facebook contacts will be the same too. And all charities.
     
  3. Jan 13, 2016 at 6:21 PM
    #3
    matluth

    matluth Fish On!

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    Just so you know, if you win the $1.5 billion, that could get you 187,500 Super Chargers at roughly $8K installed (retail price, pre tax, a piece ). After tax maybe only 150,000 SC's retail.

    Just buy Magnussen wholesale outright for cash and keep the change. :bananadance:
     
    Last edited: Jan 13, 2016
  4. Jan 13, 2016 at 6:44 PM
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    matluth

    matluth Fish On!

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    If I am lucky enough to win the Power Ball, I will buy everybody here (must own a 2nd/3rd gen Tundra 5.7L) a Magnussen SC plus install and kick in a sticker for your truck. Must be a current member as of this posting. (peanut money, would still have plenty of $ left over)
     
  5. Jan 13, 2016 at 6:57 PM
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    matluth

    matluth Fish On!

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    @Bob , Imagine most of the guys/gals here with SC's. whooooaaaa......
     
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  6. Jan 13, 2016 at 7:50 PM
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    Bob

    Bob Member Staff Member

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    Rumors will spread..."I hear you need a SC just to visit tundras.com" :gossip:
     
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  7. Jan 13, 2016 at 8:50 PM
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    Sean266

    Sean266 [OP] #ThinBlueLine Staff Member

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    Well, one winning lotto ticket of $1.5b was sold in CA... @Bob hopefully won :)
     
  8. Jan 13, 2016 at 9:56 PM
    #8
    Sean266

    Sean266 [OP] #ThinBlueLine Staff Member

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    Wining ticket was sold from a 7-11 in Chimo, CA...so not @Bob

    image.jpg
     
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  9. Jan 14, 2016 at 5:32 AM
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    matluth

    matluth Fish On!

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    I didn't get a single number that was drawn. Oh well. (Dang, the odds were so good too!:frusty:) back to doing this::playball:
     
  10. Jan 14, 2016 at 5:40 AM
    #10
    Sean266

    Sean266 [OP] #ThinBlueLine Staff Member

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    I was 5 off
     
  11. Jan 14, 2016 at 7:23 AM
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    csuviper

    csuviper Moderator Staff Member

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    Dangit, was really hoping for a free supercharger.
     
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  12. Jan 14, 2016 at 8:01 AM
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    TruckLife900

    TruckLife900 All Eyez On Me

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    Me too! My dad is visiting FL right now on vacation, hopefully he won:laugh:

    Back to this.. :pccoffee:
     
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