From businessmen to lastminute ticket buyers, there are a number of people who have gone on to be the biggest jackpot winners of all time. Though they win big, most often they haven’t had the financial security in the past to understand how to achieve greatness with their wins. Seeing green is one thing but ensuring that a financial plan is in place to prolong your funds is a necessity for everyone who manages to hit the luck on the jackpot. We have seen people win the biggest mega millions across America, who haven’t got a dime to their name anymore, or EuroMillions winners in the UK who have gifted it all to family – creating a business plan is the only way to not fall into the rocky waters of making these mistakes, too.
What is a financial plan?
A financial plan looks different for everyone, depending on what your long-term goals are. The plan is usually a document that outlines where you want to make use of your money for longevity and financial goals. These goals could be anything from starting a business, creating a product, sending your children to school, purchasing property, or even just ensuring your family is covered for years to come. The best way to utilize a financial plan is to invest in assets that are tangible and won’t depreciate if any parts of the plan begin to fail. Tangible assets could be anything that is held in the physical world, which can be property, heirlooms, gold, or expensive items that will not lose value. Investing and doing the research on certain goods to invest in for your children’s future is what will make your money go into the generations to come.
That being said, let’s dive into the three biggest jackpot winners across the globe, and see where they could have done better in investing their funds. Learning how to win progressive jackpots is one thing, but basking in lady luck is what comes at the front of play when you’re delving into the world of the lottery. Like jackpots, the lottery gives a big reward with a lower loss, so the return on investment will be guaranteed bigger than what you’ve put in.
- Edwin Castro
The biggest win to this date was in 2022, where Edwin Castro won $2 billion in the November Powerball. Edwin was said to have bought the ticket in California and chose to get the lump sum payment instead of spread costs, which resulted in the after-tax amount being $997.6 million. Though he has gone through a number of lawsuits stating that the ticket wasn’t rightfully his, he has since gained the money and the rift has come to an end.
With the option of getting the win over 29 years, it is questionable whether this individual did the right thing. Passive income is something that people cherish and thrive on, and this huge amount would have ensured there was certainty in his financial life for the rest of his time.
Edwin has gone on to splash his cash, with a mega million mansion and some swanky cars – these are certainly assets that can keep their promise on withholding the funds, so it’s fair to say he’s set for life. The winning ticket had his picked numbers that were 10, 33, 41, 47, 56 and the big Powerball 10 – so if you’re feeling lucky, we recommend choosing your own numbers and letting lady luck take her turn!
- A 90-player syndicate in Italy
Though names weren’t mentioned due to the syndicate holding so many individuals, Italy’s national SuperEnalotto jackpot was won in February 2023. Each person in the syndicate took $4.2 million dollars of the $465 million jackpot, so they certainly all had a good piece of the pie. This jackpot is the highest in Europe and far greater than any other EuroMillions wins that have ever been reported.
This return on investment is far greater than most, as you have more of a chance of winning when joining a syndicate. Each player put up around $5 dollars each, which went on to winning around $4 million each – what a win!
- Anonymous Euromillions winner
$252 million was won in July 2022 by someone who wanted to stay anonymous in the Euromillions. More often than not, individuals choose to stay anonymous for protection and theft, as the public that post about their wins go on to receive both hate and jealousy. The win is the greatest ever in the record of the UK and the EuroMillions, and this win would go on to make the person’s net worth far greater than the likes of infamous ballad singer Adele, or on par with Robbie Williams.
Though we can’t be certain what this individual chose to do with their money, they are most definitely being business-headed by choosing privacy over fame. This is one step in the right direction, and one that we can wholeheartedly agree on. The wins we have mentioned aren’t some of the greatest failures in the world, as the biggest wins are far too big to lose that quickly. Most of the time ones like these cause for a financial planner, as they are offered up by the governing body who award the jackpots.
