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Irish Lottery winner giving away $44 million fortune

After the Big WinAfter the Big Win: Irish Lottery winner giving away $44 million fortune
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A Northern Ireland woman who won €34 million (US$45.4 million) in the EuroMillions lottery is giving away a whopping €33 million (US$44.1 million).

The big-hearted Strabane woman Margaret Loughrey plans to keep just €1.25 million (US$1.7 million) of her massive fortune.  Since the windfall she's been handing out money to help people in need and has already parted with €17 million (US$22.7 million).

Margaret, who was unemployed when she won the massive jackpot, says she wants to use another €16 million to give her beloved home town a facelift.

(See EuroMillions jackpot makes poor woman one of Ireland's richest, Lottery Post, Dec. 9, 2013.)

In an interview with Sunday Life, she said, "As soon as I won the money I said it would go for the good of the town.

"I've already given half of it away. I always said one for me, and the rest for the town."

Margaret (48), who bought the "lucky dip" ticket on the way home from the Job Centre, has already spent around €1.25 million to buy the historic Herdman's Mill in Sion Mills.  She plans to transform it into a leisure and tourism destination.

However her plans to buy Strabane's vacant 22-acre business park site were turned down by Invest NI on the grounds that they didn't meet with criteria.

Margaret had been hoping to build a craft village but Invest NI said a business plan which focused on export growth was needed. But she won't let that deter her from turning Strabane into a focal point for tourism.

"You've got the American Folk park in Omagh, the walls of Derry, Donegal," she said. "There is so much in that area and Strabane could be the focal point for that.

"There is so much talent in the Strabane area, people just need to be given a chance. Everyone has the right to work for a living, to support their families, to buy their own home, to run their own business — these are things everyone should have a right to do."

Up until a few months ago, Margaret was unemployed and living on benefits of €70 (US$94) a week.

She said her previous circumstances had influenced her decision to help other people.

"I know what it's like to have nothing," she said. "That's why I'm giving it away — I can't miss what I never had."

News story photo(Click to display full-size in gallery)

Thanks to myturn for the tip.

Belfast Telegraph

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31 comments. Last comment 1 month ago by THRIFTY.
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MADDOG10's avatar - smoke
North Jersey
United States
Member #5709
July 18, 2004
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Posted: August 12, 2014, 4:32 pm - IP Logged

Good for her. May her good fortune be bestowed back upon her.   Good Story.....

                                                          Your Best Teacher, is Your First Mistake.

    maringoman's avatar - kobold
    Massachusetts
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    April 14, 2006
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    Posted: August 12, 2014, 4:52 pm - IP Logged

    This lady Margaret Loughrey has the big heart. I wish her the best.

    It's a futile effort.

      DDOH937's avatar - Lottery-028.jpg

      United States
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      December 4, 2013
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      Posted: August 12, 2014, 5:07 pm - IP Logged

      Interesting. Not sure how I feel about this. I think i get where she's coming from but i would definitely NOT take this approach. I think there are more sustainable ways to give back and have a real impact instead of just giving money away. For example, and this is just ONE example...How about maybe establishing a Trust that will gain interest as the years go on and serve as a scholarship fund for kids in her town that could last decades or Building a job training center for those unemployed....this would not only provide employment for those providing the training but give skills to those like her who were unemployed.

      Kudos to her for the big heart and right perspective. But giving money just to give money normally yield very very poor results. Who is she giving the money away to? Will they be as responsible as she was or just fall into the trappings of new money? 

      This is a hard one for me. I love her selfless huge heart, but not totally sold on the approach. Either way, good for her, she's doing what her heart is commanding her to do.

      "It's good to have money and the things that money can buy, but it's good, too, to check up once in a while and make sure that you haven't lost the things that money can't buy." - George Lorimer

        LottoMetro's avatar - Lottery-024.jpg
        Happyland
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        September 1, 2013
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        Posted: August 12, 2014, 5:51 pm - IP Logged

        Time to move to Ireland! Wink

        If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the payoff does.

        If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

        2013: -35.14% (158 tickets) || 2014: +20.00% (13 tickets)

          HaveABall's avatar - rocket

          United States
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          March 18, 2009
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          Posted: August 12, 2014, 6:52 pm - IP Logged

          Margaret, congratulations on your EU Lottery jackpot win.  Banana

          Please rethink your savings plan and keep at least €4 million for yourself; since you could live until you are 100!

          Having millions of dollars in my financial accounts means more, consistent fun for me.Lovies

            mamamary517's avatar - Lottery-024.jpg
            Brooklyn, NY
            United States
            Member #115857
            August 29, 2011
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            Posted: August 12, 2014, 6:59 pm - IP Logged

            Hi Margaret, I'm Mary and I am Irish...lol     I love people like this!    When I win here in Brooklyn I am going to be just like that!

              helpmewin's avatar - dandy
              u$a
              United States
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              February 22, 2011
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              Posted: August 12, 2014, 8:30 pm - IP Logged

              Good job Margaret LoughreyDance

                               

                user71926's avatar - batman34
                New Member
                New York, NY
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                June 22, 2014
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                Posted: August 12, 2014, 8:40 pm - IP Logged

                Aww congrat and bless you woman!  I am moving to your town Lol!

                ''He has achieved success who has worked well, laughed often, and loved much.''~Elbert Hubbart

                 

                "Our patience will achieve more than our force."~Edmund Burke

                  JoeBigLotto's avatar - Lottery-049.jpg
                  melbourne , florida
                  United States
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                  January 3, 2012
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                  Posted: August 12, 2014, 10:23 pm - IP Logged

                  This lady is suffering from easy come easy go sickness i think she needs therapy . Just because you are use to being poor doesn't mean you should not be rich for few yrs that's how long lotto riches last anyway but for her its like am not even going to fight spending gently am giving up and giving it all away what happens if you have a very expensive medical bill later you tell your doctor sorry i can't pay i gave it all away. And the worst part of this is all this people you helping won't even help you if you broke . l don't know if you really die and go to heaven but i will prefer to start enjoying my heaven today on earth lol give just  10 to 20 percent that is good enough . And she was unemployed so why not build a restaurant and employ people and feed people during holidays for free you will have more fun going to your restaurant and drink all night for free.Coffee

                    HaveABall's avatar - rocket

                    United States
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                    March 18, 2009
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                    Posted: August 12, 2014, 10:43 pm - IP Logged

                    This lady is suffering from easy come easy go sickness i think she needs therapy . Just because you are use to being poor doesn't mean you should not be rich for few yrs that's how long lotto riches last anyway but for her its like am not even going to fight spending gently am giving up and giving it all away what happens if you have a very expensive medical bill later you tell your doctor sorry i can't pay i gave it all away. And the worst part of this is all this people you helping won't even help you if you broke . l don't know if you really die and go to heaven but i will prefer to start enjoying my heaven today on earth lol give just  10 to 20 percent that is good enough . And she was unemployed so why not build a restaurant and employ people and feed people during holidays for free you will have more fun going to your restaurant and drink all night for free.Coffee

                    I Agree!, JoeBigLotto!

                    Having millions of dollars in my financial accounts means more, consistent fun for me.Lovies

                      Coin Toss's avatar - shape barbed.jpg
                      Zeta Reticuli Star System
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                      Posted: August 12, 2014, 11:23 pm - IP Logged

                      Sure now Margaret, good for you and may the leprechauns bless ya!

                      Lep

                      Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                      Lep

                      There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                        ThatScaryChick's avatar - AbnSTiA

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                        Posted: August 13, 2014, 12:58 am - IP Logged

                        Wow, she is a very generous and kind woman.Yes Nod

                        "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

                          noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                          Bay Area/ California
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                          Posted: August 13, 2014, 1:33 am - IP Logged

                          Wow, she is a very generous and kind woman.Yes Nod

                          I agree- l am reminded of an interview Willie Nelson had a bunch of years ago.He said that from time to time he would buy homes and cars for people in his entourage..but when the taxman come a knocking...NONE of those people who benefited from his good graces were anywhere to be seen or heard from. He said he learned a valuable lesson "When you down and out, your so called friends are AWOL"

                          One look at her outfit tells me that she probably likes her present lifestyle and only needs the bare necessities, and that is not necessarily a bad thing.

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                            Bondi Junction
                            Australia
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                            December 24, 2007
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                            Posted: August 13, 2014, 2:04 am - IP Logged

                            If she wishes to give it away, it is her choice. However, it was not a good move to go public. She will be badgered by people with sorrowful stories begging for money.

                            We all get a lot out of lotteries!