Login to Continue Learning
Some lottery winners prove that money doesn’t always buy happiness. They’ve lost fortunes due to family drama and trauma, seen their homes destroyed by fire, or watched their money vanish due to excessive spending and bad investments. Some were misled by unscrupulous advisors.
The good news: Those stories are outliers. Studies have shown that winning the lottery can bring a measure of happiness, often correlating with financial stability. Here’s a look at how some people have fared after becoming instant millionaires:
### Jack Whittaker: ‘Wish I’d torn that ticket up’
Jack Whittaker won $315 million in 2002 and set up a foundation to build churches, give scholarships, and help local students. However, his family struggled: His wife left him; his granddaughter died of addiction at 17; and his daughter passed away from cancer at 42. He lost a home to fire and was repeatedly robbed. In 2007, he told ABC News, “I wish I’d torn that ticket up.”
### David Lee Edwards: ‘A poor man’s dream’
David Lee Edwards won $27 million in 2001 but was broke by 2006. He spent the lottery windfall on a mansion, dozens of cars, and a jet before running out of money. The couple lived in a Florida storage unit and became addicted to drugs, arrested multiple times. Edwards died at just 58.
### Evelyn Adams: A Two-Time Winner
Evelyn Adams won $3.9 million in 1985 and another $1.4 million in the New Jersey lottery shortly after. After setting up a college fund for her daughter and marrying her fiancé, she fell into gambling addiction and gave away money freely until the funds were depleted. Her 2021 obituary described her as kind, never meeting a stranger, and always ready to help others.
Winning the Powerball could change lives forever, but it’s crucial to manage wealth responsibly.
