$1.5 Billion Lottery Winner
- Captain Kirk
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$1.5 Billion Lottery Winner
Forgive me if I don't join in with the smiling happy clappers at the news someone in the US has won one and a half billion dollars in a lottery. Actually it saddens me somewhat. Could have had 1500 millionaires or even 150 folk getting $10m each, a far more palatable outcome in my estimation.
Re: $1.5 Billion Lottery Winner
I'm very much not a socialist, but still tend to agree with you.
Getting through $1.5 billion would take extreme effort, bordering on waste.
I would much rather have 150x the chance of winning $10 million. Admittedly, this just buys a modest house and perhaps an indefinite annual income of merely ~$350,000. But that's almost $1000 a day. Even in Soi Twilight, I can get by on this.
Getting through $1.5 billion would take extreme effort, bordering on waste.
I would much rather have 150x the chance of winning $10 million. Admittedly, this just buys a modest house and perhaps an indefinite annual income of merely ~$350,000. But that's almost $1000 a day. Even in Soi Twilight, I can get by on this.
- Gaybutton
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Re: $1.5 Billion Lottery Winner
I would agree unless, of course, the holder of the winning ticket happens to be me . . .
Re: $1.5 Billion Lottery Winner
Important to remember that a win of $1.5 billion does not actually put $1.5 billion in your account. You get it over 30 years paying tax as you go. You can elect a one-off payment but that is a lot less and after taxes comes in at around $490 million. Even that is bordering on the obscene IMO.
It’s a bit like those talent tv shows that advertise a prize of $1 million for the winner. But if you can actually read the credits at the end as they flash past, that $1 million is paid over 25 years!
I’m not sure who gets the actual profits from running the lottery or if all income goes to winners. I like the Hong Kong lottery system where all profits are donated to local charities.
It’s a bit like those talent tv shows that advertise a prize of $1 million for the winner. But if you can actually read the credits at the end as they flash past, that $1 million is paid over 25 years!
I’m not sure who gets the actual profits from running the lottery or if all income goes to winners. I like the Hong Kong lottery system where all profits are donated to local charities.
- Gaybutton
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Re: $1.5 Billion Lottery Winner
Either way, I'll take it . . .fountainhall wrote:You get it over 30 years paying tax as you go. You can elect a one-off payment but that is a lot less and after taxes comes in at around $490 million.
- Captain Kirk
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Re: $1.5 Billion Lottery Winner
Of course the other big winners win big every week, the company who run the lottery. That's the charity they are most interested in.fountainhall wrote:I’m not sure who gets the actual profits from running the lottery or if all income goes to winners. I like the Hong Kong lottery system where all profits are donated to local charities.
Re: $1.5 Billion Lottery Winner
Two completely separate points here.
1 If you won $1.5 billion, I imagine it would take a lot more effort to stop the media from finding you & to keep your privacy, than it you had merely $20 million. The one advantage we have over the likes of Bill Gates is we can visit every gogo bar in town, without having the paparazzi on our case.
2 Your typical charity may be not for profit, but the CEO still often commands a very large salary & runs an expensive car. I know of someone who worked at a so called charity and less than 10% of the money raised made it out to the good cause. Clearly this is a structure where there is not much pressure to operate efficiently.
1 If you won $1.5 billion, I imagine it would take a lot more effort to stop the media from finding you & to keep your privacy, than it you had merely $20 million. The one advantage we have over the likes of Bill Gates is we can visit every gogo bar in town, without having the paparazzi on our case.
2 Your typical charity may be not for profit, but the CEO still often commands a very large salary & runs an expensive car. I know of someone who worked at a so called charity and less than 10% of the money raised made it out to the good cause. Clearly this is a structure where there is not much pressure to operate efficiently.