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."
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Thanks to myturn for the tip.
Good for her. May her good fortune be bestowed back upon her. Good Story.....
This lady Margaret Loughrey has the big heart. I wish her the best.
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.
Time to move to Ireland!
Margaret, congratulations on your EU Lottery jackpot win.
Please rethink your savings plan and keep at least €4 million for yourself; since you could live until you are 100!
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!
Good job Margaret Loughrey
Aww congrat and bless you woman! I am moving to your town Lol!
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.
Sure now Margaret, good for you and may the leprechauns bless ya!
Wow, she is a very generous and kind woman.
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.
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.