How I spent $200 MIllion

February 28, 2007 at 10:51 pm Leave a comment

NOT ME but the guy that won the powerball lottery .

(Fortune Magazine) — Brad Duke, 34, a manager for five Gold’s Gym franchises in Idaho, pocketed a lump sum of $85 million after winning a $220 million Powerball jackpot in 2005. He spent the first month of his new life assembling a team of financial advisors. His goal: to use his winnings to become a billionaire. Here’s what Duke has done with his money so far.

  • $45 million: Safe, low-risk investments such as municipal bonds

    brad_duke.03.jpg
    Brad Duke won a $220 million powerball jackpot in 2005.

    More from FORTUNE

    Biggest U.S. lottery jackpots

    1. $365,000,000, 2/2006, Powerball

    2. $363,000,000, 5/2000, The Big Game

    3. $340,000,000, 11/2005, Powerball

    4. $331,000,000, 4/2002, The Big Game

    5. $315,000,000, 11/2005, Mega Millions

    Video More video

    Some states are looking to sell their lotteries to private firms. CNN’s Lisa Sylvester reports. (February 14)
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  • $35 million: Aggressive investments like oil and gas and real estate
  • $1.3 million: A family foundation
  • $63,000: A trip to Tahiti with 17 friends
  • $125,000: Mortgage retired on his 1,400-square-foot house
  • $18,000: Student-loan repayment
  • $65,000: New bicycles, including a $12,000 BMC road bike
  • $14,500: A used black VW Jetta
  • $12,000: Annual gift to each family member

See the full story 

 http://money.cnn.com/2007/02/20/magazines/fortune/lottery_winnings.fortune/index.htm?postversion=2007022807

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About Biz News

My Name is Bisi and this is my blog This blog features stories that I have read that I think are interesting . I usually bookmark the stories that I find interesting but they are getting too many . I have decided to catalog and share them on this site . I am not really promoting the site so you might have accidentally stumbled on it . Thanks for visiting .
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