MicroWaveNov 23, 2023

Winner of $1.35 billion Mega Millions jackpot in Maine sues mother of his child to keep identity hidden

https://lemmy.world/post/8664333

Winner of $1.35 billion Mega Millions jackpot in Maine sues mother of his child to keep identity hidden - Lemmy.World

A man who won one of the largest lottery payments in U.S. history has filed a federal lawsuit against the mother of his child in an attempt to keep his identity concealed. The man won a $1.35 billion Mega Millions jackpot earlier this year after purchasing a lottery ticket at a gas station in Lebanon, Maine. He has sued his child’s mother in U.S. District Court in Portland with a complaint that she violated a nondisclosure agreement by “directly or indirectly disclosing protected subject matter” about his winnings, court papers state. The court papers state that the defendant in the case disclosed the information to the winner’s father and stepmother. Both the winner and the defendant in the case are identified only by pseudonyms.

Show threadbruce_willassNov 23, 2023

I’ve read the famous lottery post enough times to know the major bullet points to follow after winning (not that I’ll ever win, because I don’t play the lottery):

  • Don’t tell anyone.
  • Go to your nearest big city and hire a partnered lawyer in trust & estates from one of the big national law firms. Look them up on martindale.com, apparently.
  • Decide how you want to split your winnings and have your new lawyer handle the distribution.
  • Yada yada, typical personal finance investing advice (good to follow even without a lottery).
  • Live off the returns/interests earned.
    • Show threadfinthechat

    Bad advice. I'd rather:

  • Throw away all of money on drugs and hookers
  • Die
    • Nov 24, 2023 at 12:40amWeb
    Show threadNougatNov 24, 2023

    You can do that now, without playing or winning the lottery.

    @snaptastic Please notify me if this comment does not satisfy your relevancy requirements.

    Show threadFlying SquidNov 24, 2023
    So you’ll be taking the smaller lump sum rather than the larger amount paid out in installments?
    Show threadCH3DD4R_G0B-L1NNov 24, 2023
    Am I missing the joke here? You do know the lump sum is always the better option right?
    Show threadFlying SquidNov 24, 2023
    Not if you want financial security until you die.
    Show threadCH3DD4R_G0B-L1NNov 24, 2023
    Pretty sure the math works out on even dumping the lump in a jumbo savings and giving you better dividends than the lifetime payment plan. You can obviously way outperform that with extremely stable index funds and other safe investments. You do you though
    Show threadbbbbbbbbbbbNov 24, 2023
    Getting a lump sum of $500m will forever alter your life for the better in the same way as receiving it over 30 years. You will have financial security for the rest of your life in either situation. Its better to receive it all in one lump sum and investing a larger portion now for bigger returns later rather than investing a sum yearly for returns you may not ever see
    Show threadFlying SquidNov 24, 2023

    You will have financial security for the rest of your life in either situation.

    You might want to look up what happens to lottery winners and their money.

    Show threadmoodyNov 25, 2023
    Are there any reports regarding 9+ figure winnings? Because I’ve definitely heard and read of 1-2 million dollar winners going broke quite quickly, but a billion dollars is an absolutely monstrous amount of money that I would struggle to spend entirely on purpose.
    Show threadveroxiiNov 25, 2023

    The resdit post referred to by the top level comment mentions that winners of very large jackpots turn up dead with alarming frequency.

    Also the bigger the jackpot the more people get sued, family kidnapped, harassed, etc. A miserable existence apparently.

    Show threadfinthechatNov 24, 2023
    You are missing the joke here, because if I do (2. Die) then I won't be getting the payment installments
    Show threaddream_weaselNov 24, 2023
    Yeah, this is the way.
    Show threadCaseNov 25, 2023

    I briefly worked at a convienice store that sold lotto tickets, and people should be aware that the default is the smaller lump sum. The operators have to change a couple things when they get the ticket made.

    However most people do a random “quick pick” over filling out the associated forms to select individual numbers, pay out type, etc.

    That being said, mathematically if you do win, and take the lump sum and invest it positively, it can out “earn” the staggered payments, resulting in more money.

    However, the mathematically inclined rarely play lottery type games, I mean they give you the odds on the ticket.

    You’re more likely to be hit by lightning on a clear day than winning the jackpot.

    But hey, a couple bucks, some wishful thinking, and its cheap entertainment for a short while imagining what to do with the winnings.

    I realize the odds are totally stacked against me, but when it gets to 1b I’ll buy a ticket, just on the off chance, lol.

    Show threadEezyvilleNov 24, 2023
    I’ve heard that hookers are a great investment.
    Show threadFlying SquidNov 24, 2023
    Especially when you pair them with blackjack. Then when you make enough money, you can open a theme park.