Learn How A $27 MILLION Jackpot Winner Went Broke In 5 Years

27,111
14,584
Joined
May 2, 2012
A Powerball winner has died broke and all alone in hospice care, just 12 years after raking in $27million cash from a lottery jackpot.

David Lee Edwards, a convicted felon from Ashland, Kentucky, bought a mansion in a gated community, dozens of expensive cars and even a LearJet with the share of a record $280million jackpot he won in August 2001. But drug addiction and his free-spending ways left

Edwards and his wife Shawna broke and living in a squalid storage unit contaminated with human feces within five years. Shawna left him not long after and remarried.

Unhappy ending: David Lee Edwards, pictured with his new wife Shawna at their Malibu wedding shortly after winning the lottery, died Saturday in hospice at age 58

Edwards bought this 6,000-square-foot mansion in Palm Beach Gardens, Florida, for $1.5million. He lost it five years later

Big spender: Edwards spent $1.9million on this LearJet to ferry him between his mansion in Florida and his hometown in Kentucky. He even had a personal pilot In the end, Edwards’ first ex-wife and her husband drove him from Florida back home to Ashland. He died in hospice care Saturday at age 58. Edwards’ friends and family say his tragic story can serve as a parable about the corrupting influence of money. By the end of his life he had lost every last penny of his $27million fortune and died owing thousands of dollars to friends. Both Edwards and Shawna contracted hepatitis from their needle drug use and both were arrested multiple times and had numerous run-ins with police for possession of crack cocaine, prescription pills and heroin, the Broward-Palm Beach New Times reported in 2007.

http://www.browardpalmbeach.com/2007-08-16/news/powerfall/full/
 
Dude really spent $27 mil in 5 years :x

**** you need a house that big for :rofl:
 
Dude really spent $27 mil in 5 years
sick.gif


**** you need a house that big for
roll.gif
man thats nothing

look how much athletes lose

allen iversion loss 200million

latrell sprewell loss 90million

scottie pippen loss 120million

antoine walker loss 110million

derrick coleman loss 80million
 
How the hell do you spend that much if I had 27m

Id drop a mil on a house

mil on a few cars

2 mil to parents

Blow a mil and if be set :lol:
 
i swear, if i won the lotto. no one would have the slightest idea.

i'd become more generous with friends and fam. they would kno why tho.

they'd prolly jump to the conclusion that im pushin...
 
If I won all that money. I'd still be grimey as hell and still resell shoes. AND WHAT!!!!?????!!! Nah but for real tho. That's pretty sad/dumb
 
I guess its easy to say that he was irresponsible with that money but then again we're not in his shoes... it is true when you get money like that your whole lifestyle changes so in reality you never have enough money.... as for me im cool with some fresh gear, nice house, some :pimp: and a couple whips but nothing crazy...i like splurging but i rather spend that money on food :lol:
 
There's a show on TLC on lotto winners. Some dude won a couple mil & was murdered by some yambs. :smh:

The dudes that go broke just live life in the fast lane and forget that money goes way too easy. If it were me half of it would be invested, quarter of it would be saved, and the rest would be blown.
 
Last edited:
Sucks.

You have to portion out money when winning lottery.

-% for investment
-% for stocks
-% for free spending
-% for saving in international account
-% other stuff that is going to bring a return back not make you lose money.

-Me personally i'd buy a house in D.R and nice car and just move outta here! With all the investments I'd stay humble and wouldn't work another day in my life,
 
Neighbors complained that it looked like a car dealership :rofl:


"If I run out of every dime, it's been one heck of a ride, and I got to help a lot of people," David told the camera. "So at the end of the day, if it all went away, I'd be happy."
 
Last edited:
Back
Top Bottom