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Powerball winner dies penniless, 12 years after winning $27 million

Topic closed. 82 replies. Last post 3 years ago by fwlawrence.

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November 19, 2002
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Posted: December 4, 2013, 9:53 pm - IP Logged

       My response was meant for you Teddi

    veganlife125's avatar - Lottery-061.jpg

    United States
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    May 18, 2013
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    Posted: December 4, 2013, 10:24 pm - IP Logged

    All the money in the world won't usually change who you are. Money is just a tool that let's you do a better job of being who you already are.

    Great post KY Floyd.  You said a novel in 2 sentences.

    This is a sad story but not surprising unfortunately.  I've seen so many people get paid on Friday and not be happy until they are completely broke with a hangover heading to work on Monday morning.  Many will call in sick on Monday if they can to spend the rest and arrive to work Tuesday.

    Money burns a hole in their pocket for some reason like this guy.  I think somewhere along the lines they want it hard.

    Character Counts.

    Don't forget to visit the Lottery Post Gift Shop!

      DC81's avatar - batman39
      MI
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      August 31, 2007
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      Posted: December 5, 2013, 12:52 am - IP Logged

      I Agree! w/ Arrowhead,  especially with it really not being a lot of money, at least not nearly enough to have bought all the "toys" he did.   I bet he probably couldn't have kept them all, even if he'd invested the remainder of his money...would've been a lot of upkeep on the mansion, insurance f/ the cars, etc.   It was all the "junk" he bought that really floors me.  I can understand blowing a good chunk on "stuff" when you win, especially if you've never had many possessions in your life,  but more-or-less wasting it on fake swords and such is beyond comprehension, at least it is to me.

      I just spent some time looking at his daughter's Facebook page;  I really shouldn't comment on what type of person she seems to be by her posts and shares, but from what I saw,  it looks like the apple didn't fall far from the tree.  Her baby is due on the 11th of this month, I believe.

      I shouldn't either but I believe that would be number 2, she also had her own problems with drugs including during that time being exposed to that environment and all and IIRC was sent to rehab. Years later she and her boyfriend (I think, it's been a few years) were arrested for trafficking.

      As for the comments on how Edwards lived his dream or how you only live once or whatever, well fine if it only affected him. But it didn't and the choices he made and the choices he didn't affected more than just himself.

      You can't predict random.

        DC81's avatar - batman39
        MI
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        Posted: December 5, 2013, 12:56 am - IP Logged

          Hi Coin Toss, 

            I agree with you because it is definitely a message in his story. He did a combination of things with his money. I like that he did help some of his friends but he went far too too far with some of his purchases. Too extragavant. And the drug problem didn't help either. When he first won, and they did a story on him I thought he was a balanced indivdual.  He purchased a Lear Jet and many cars. What happenend to those items?

        I remember seeing the news as I lived somewhat near by at the time and seeing him on there thinking he was a well spoken charismatic individual. But then the later stuff happened. He was too generous with "friends" and got taken advantage of by more than a few. As for the cars and whatever he lost it all from not being able to cover his bills, I'm pretty sure they were all auctioned off.

        You can't predict random.

          DC81's avatar - batman39
          MI
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          Posted: December 5, 2013, 12:59 am - IP Logged

          Red: You know, i'm actaully inclined to agree with you. The drugs is what did him in, not the excessive spending. And considered that he had back/pain issues from an accident PRIOR to winning. It really isn't that surprising he ended up a fein huh? I've seen post critical of his jet purchase, cars and taste ect. but really who cares. He had the right to blow his money on stuff if he wanted. Its just the drug issue that gets to me, especially him paying for drugs for friends only to end up having to bury them from thier overdosing. That's tough stuff.

          The drugs and the stupid spending absolutely did him in along with not having the sense needed to say "NO" when he had to along with listening to the wrong people. I remember he was going to get his back fixed after winning but then never did. Him foolishly blowing HIS money on a bunch of crap isn't a big deal, but the bad choices he made along with it, including how it affected his daughter are.

          You can't predict random.

            DC81's avatar - batman39
            MI
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            Posted: December 5, 2013, 1:01 am - IP Logged

                         You are entitled to your opinion as I am entitled to mine. I STILL feel that the total truth has not been told. That is my right.

            You have the right to believe the moon landing was done in the desert or on a sound stage, you are entitled to believe there was a second shooter and so on but it doesn't mean your beliefs are anchored in fact.

            If you do the research your answers will be found instead of just looking at this one story.

            If I win the lottery can I buy a multi-quote function to these boards? LOL

            You can't predict random.

              mikeintexas's avatar - tx avatar-1.gif
              Texas Panhandle
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              December 20, 2012
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              Posted: December 5, 2013, 1:27 am - IP Logged

              I shouldn't either but I believe that would be number 2, she also had her own problems with drugs including during that time being exposed to that environment and all and IIRC was sent to rehab. Years later she and her boyfriend (I think, it's been a few years) were arrested for trafficking.

              As for the comments on how Edwards lived his dream or how you only live once or whatever, well fine if it only affected him. But it didn't and the choices he made and the choices he didn't affected more than just himself.

              Yep, and if the few pics I browsed through are recent, it makes me wonder if she's still not using.  I hope not, esp. b/c of the baby.  Her other child looked healthy and well-cared for, so maybe she's clean.  I pray she is.

              Yeah, some of those comments annoyed me, esp. one saying we shouldn't have criticized him for what he bought.  Well, sorry, other than the cars, house and jet, it was crap and probably depreciated 75%+  as soon as he walked out the door with the stuff.  I really wasn't criticizing him, anyway, just SMH at the absurdity of it all.   I know from personal experience that people who do drugs or drink to excess aren't happy with their lives.  I know "money can't buy happiness" but it sure can lessen a lot of worries.  He had a once-in-a-lifetime chance to not only better his own, but the lives of his loved ones and he p*ssed it away. 

              "YOLO" needs to go away and in fact, I just read an article today saying it's time to retire the phrase.  The ironic thing is most people who live by that usually have short lives.  Nothing wrong with grabbing for the gusto, just as long as the gusto doesn't grab you.

                stunna6036's avatar - Lottery-033.jpg
                chicago,il
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                Posted: December 5, 2013, 4:34 am - IP Logged

                It's ironic that he was down and out on his luck before he won the lottery, and that's how he died. The lottery only prolonged his fate. I can say from the story that because of the lottery he was able to live out a life long dream of being a millionaire.  In my opinion there is a difference between being rich and being wealthy. If you can't manage your money or life for that matter before you come into instant riches then this is what happens more often then not, so I'm not surprised(a fool and his money will soon be parted). Being wealthy on the other hand is more of a mindset. You could have a million dollars and live wealthy. So this notion of 27 million dollars not being a lot of money is just foolish talk. And to all the smart investors out there just have a talk with Bernie Madoff(lol) and see where that gets you.

                  sflottolover's avatar - spherewall2
                  San Leandro, very near Oakland and San Francisco.
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                  Posted: December 5, 2013, 7:53 am - IP Logged

                  It is really unbelievable.

                  Thanks for your kindness to visit my posting; and left me your warmness for my slow chewing! 

                  Those who wants to win lottery is normal; and it is abnormal if anybody does not want to win!

                  http://www.writers-network.com/members/sfiawong

                    DDOH937's avatar - Lottery-062.jpg

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                    December 4, 2013
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                    Posted: December 5, 2013, 9:26 am - IP Logged

                    It's ironic that he was down and out on his luck before he won the lottery, and that's how he died. The lottery only prolonged his fate. I can say from the story that because of the lottery he was able to live out a life long dream of being a millionaire.  In my opinion there is a difference between being rich and being wealthy. If you can't manage your money or life for that matter before you come into instant riches then this is what happens more often then not, so I'm not surprised(a fool and his money will soon be parted). Being wealthy on the other hand is more of a mindset. You could have a million dollars and live wealthy. So this notion of 27 million dollars not being a lot of money is just foolish talk. And to all the smart investors out there just have a talk with Bernie Madoff(lol) and see where that gets you.

                    A well reasoned post. You touched on sooooo many things here that are right on point. Good stuff Stunna!!!!

                    "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


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                      Posted: December 5, 2013, 11:58 am - IP Logged

                          @DC81...You need to make better use of your time.

                        Teddi's avatar - Lottery-008.jpg

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                        Posted: December 5, 2013, 6:03 pm - IP Logged

                                     You are entitled to your opinion as I am entitled to mine. I STILL feel that the total truth has not been told. That is my right.

                        What 'truth' are you looking for exactly? What is it you think is missing here? This guy's journey from rags to riches to rags again has been well documented in the media over the last few years. Considering how many lottery winners end up worse off than before they won, why should his story be the one that's unbelievable?

                        The first clue that something was really wrong was when he couldn't afford to pay his (relatively small) HOA fees. At the initial news report he 'claimed' that he hadn't been aware that he was owing HOA fees until he saw it in the news and that he would get it taken care of. He wasn't broke and his house wouldn't be put up for auction. That's what he said. But lo and behold, he didn't pay his HOA fees and his house was auctioned off.

                        He linked up with a shady financial advisor who (unlike the first advisor) condoned him buying whatever nonsense popped into his head. Then when he needed money for drugs, urged him to sell everything at a significant loss. 

                        Him dying broke isn't a shocker to anyone else. Just you. 

                        This isn't some grand conspiracy theory that the media cooked up to toy with your head. He had money. He bought crap. He got high. He went broke. He died. Where is the big mystery you are trying to create. 

                        And yes, you are entitled to your opinion, but if it's flat out wrong, I'm entitled to tell to quit making asinine statements. Especially if those statements are made in large bold fonts in CAPS.

                          Teddi's avatar - Lottery-008.jpg

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                          Posted: December 5, 2013, 7:48 pm - IP Logged

                          It's ironic that he was down and out on his luck before he won the lottery, and that's how he died. The lottery only prolonged his fate. I can say from the story that because of the lottery he was able to live out a life long dream of being a millionaire.  In my opinion there is a difference between being rich and being wealthy. If you can't manage your money or life for that matter before you come into instant riches then this is what happens more often then not, so I'm not surprised(a fool and his money will soon be parted). Being wealthy on the other hand is more of a mindset. You could have a million dollars and live wealthy. So this notion of 27 million dollars not being a lot of money is just foolish talk. And to all the smart investors out there just have a talk with Bernie Madoff(lol) and see where that gets you.

                          You're definitely right there. $27 million dollars after taxes is an I-never-have-to-work-again-and-can-live-extravagantly-off-the-interest-alone amount of money. 

                          When he started buying planes and spending money just to tick off his advisor, that was the beginning of the end. Not keeping Shawna out of his life when 3 stints in rehab didn't work, sped up the inevitable. 

                          But when he had to borrow money to buy junk to put in his house so that he could show off to the world how great he had it when a tv crew wanted to interview him, he was already long gone. No one should have to borrow money to appear rich after pocketing $27M.

                            HaveABall's avatar - rocket

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                            Posted: December 5, 2013, 8:18 pm - IP Logged

                            Wow, it was probably difficult for David living: broke, ashamed, demoralized, in debt, on welfare, very sick, in pain, and mainly alone for these past 7.5 years.

                            Bed

                            Having several millions of dollars in my financial accounts means receiving several valuable services each day!

                            Disney

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                              Elgin, IL
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                              Posted: December 6, 2013, 12:34 am - IP Logged

                              I remember this story. Back in September DAC(Destination America Channel) ran an old special called "Jackpot! Overnight Millionaries" and the episode featuring David Lee Edwards is still on my DVR.  I also have a very old episode of E! THS featuring Edwards on DVD-R. 

                               

                              R.I.P. David Lee Edwards.