Mavs owner Mark Cuban has some advice to the Powerball winner
ABS-CBN Sports on Jan 14, 2016 03:32 PM
Mark Cuban has some friendly advice to the Powerball winner. (AP)
So one lucky person from California won the Powerball today with a ridiculous price estimated to be $1.6 billion and a cash equivalent of $983.5 million.
We have a winner in California! A jackpot-winning ticket was sold in Chino Hills. We’re still awaiting results from other states.— California Lottery (@calottery) January 14, 2016
With that, fellow billionaire and Dallas Mavericks owner Mark Cuban has some advice to the winner on how to handle his new fortune.
According to Dallas Morning News, Cuban, who came from broke bartender to owner of an NBA champion franchise, had this to say to the powerball winner:
1. Hire a tax attorney first.
2. Don’t take the lump sum. You don’t want to blow it all in one spot.
3. If you weren’t happy yesterday you won’t be happy tomorrow. It’s money. It’s not happiness.
4. 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.
5. 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 1m dollars for anything. No one needs 100k for anything. Anyone who asks is not your friend.
6. 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.
Not too shabby advice from the outspoken Mavs owner.
According to California lottery officials, the winning ticket was purchased at a 7-Eleven on Chino Hills Parkway.
The winning numbers are 8, 27, 34, 4, 19 and the Powerball of 10.