Tuesday 29 November 2011

Connecticut Wealth Managers Win $250m Jackpot

BBC: Three wealth managers who live in one of the richest cities in the US have won a lottery jackpot of $254m (£163m).

Greg Skidmore, Brandon Lacoff and Tim Davidson, from Greenwich, Connecticut, won the 2 November Powerball draw after buying a $1 ticket.

They formed a trust after the draw and went public once plans for the cash were finalised, a lawyer said.

The jackpot was the largest ever won in Connecticut and the 12th biggest in Powerball history.

After tax, the winnings will be greatly reduced but still extremely large, totalling $103,586,824.51, the Associated Press reported.

After realising they had won, the men formed a trust fund to help manage the money before going public.

A lawyer for the three men said a portion of that after-tax sum would be donated to charity.

"Obviously, everybody is extremely excited," said Jason Kurland, the lawyer. "These numbers are huge. This is going to benefit many people." » | Tuesday, November 29, 2011