Hedge Fund Managers Win Lottery
Three hedge fund managers from Greenwich just won a $254 million Powerball jackpot—an occurrence not likely to please demonstrators on Wall Street. According to the Associated Press, the Belpointe LLC money men stand to gain $104 million after taxes. That’s the 12th biggest payout in Powerball history.
To add further insult to injury for the non-millionaires of the world, Greg Skidmore, Brandon Lacoff and Tim Davidson won the jackpot off of a $1 ticket. Davidson bought the ticket at a Stamford gas station on a whim, the AP reported.
Before hurrying to cry foul, however, it’s important to note that the three hedge fund managers plan to donate a significant portion of their winnings to charity. The three men announced their decision with their lawyer at a news conference, though they didn’t elaborate much on their victory.
“It feels good,” Skidmore said.
Apparently the men were not initially aware they had won the money, as billboards in Connecticut had to advertise for weeks before the ticket holder eventually came forward. The gas station manager, Ranjit Singh, told the AP that lottery officials informed him that the winning ticket had been sold at his location.
Singh, who doesn’t remember selling the ticket, was pleased to discover that the station received $100,000 for selling the winning ticket.
“We’re really happy,” he told the news agency. “Christmas is a little early.”