I don't know the man's investment portfolio, but the fact that he's making these very public purchases points in the direction of him not being fiscally savvy.
Off rip, if he won "2 billion*, the cash value was half (1 billion), and the Fed (~37%) and The State of California (~10%) are taking around half of that again. The two billion nominal value becomes something like 550 million if he takes it up front. That's how the lotto works. Not like he got 2 billion sitting in a checking account at Wells Fargo.
In his first year, he's already spent 10-12% on housing, on three mansions, in the most expensive part of the country, with probably the highest property tax, on top of the staff needed to run places like that.
It doesn't sound like he's put that money in some municipal bond fund with a ladder style income stream.
He rolling with one security guard in an old Porsche, convertible if I recall. That's how JFK got shot B...
Maybe this story ends well, but it's not starting off great imo.
Off rip, if he won "2 billion*, the cash value was half (1 billion), and the Fed (~37%) and The State of California (~10%) are taking around half of that again. The two billion nominal value becomes something like 550 million if he takes it up front. That's how the lotto works. Not like he got 2 billion sitting in a checking account at Wells Fargo.
In his first year, he's already spent 10-12% on housing, on three mansions, in the most expensive part of the country, with probably the highest property tax, on top of the staff needed to run places like that.
It doesn't sound like he's put that money in some municipal bond fund with a ladder style income stream.
He rolling with one security guard in an old Porsche, convertible if I recall. That's how JFK got shot B...
Maybe this story ends well, but it's not starting off great imo.
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dude filthy rich he can do that
