Steve West of Medford, Oregon, is a wealthy, wealthy man.
West, a self-employed businessman, confirmed to ABC News that he and three other family members are the owners of the winning Powerball ticket worth $340 million.
"I still don't really believe that it's true," West told ABC News Radio. "It just really hasn't sunk in well. I'm told by everybody else that this is a life-changing situation, and I didn't plan on wanting to change that much. I mean, the money always sounded great, but I didn't want to change my lifestyle to go along with it."
West discovered he'd won when family members checked the numbers online.
"We didn't watch the Powerball drawing," he said. "We got a call … from the other family members saying, 'I can't believe it, some of these numbers are matching.' And then she (a relative) started saying, 'All these numbers are matching.' And we thought, 'Wow.'"
"She couldn't believe they were matching, and she could hardly talk," West said. "She was just so panicked. And my wife was talking to her. And it was pandemonium — I guess was the way to say it."
First-Time Player
The family had bought $40 worth of tickets, West said.
"We went over and looked at the ticket, verified that it's a correct ticket … and just haven't slept well the last two nights," he said.
Talk about luck: It was the first time West ever played Powerball. He said he won't do anything crazy with the money, though.
"Of course, everybody dreams of winning the lottery, but I've never really made plans of what I would buy, because it never went that in-depth," he said.
"We're talking to our financial planner Tuesday and we're probably going to invest all of it — or 99 percent of it," he added. "That'll still leave us a good small amount that we can take a vacation or buy some kind of a sports car."
For now, West will keep his day job, which he is refusing to disclose.
"I'm self-employed, and I still have been out to work yesterday," he said, "and I'm still going out today."
Jack Whittaker was a self-employed businessman too. May be I'll get lucky if I start a business.
First time player ...... had a winning mindset .....
Quote: He said he won't do anything crazy with the money, though. and
We're talking to our financial planner Tuesday and we're probably going to invest all of it — or 99 percent of it,"
Yea that sounds real intelligent the stock market is doing so poorly that he just might end up owing money if it were to crash. It kills me when people make rash decisions.... a quater or possibly half of the winnings but not all. Big money makes some people brain dead I think. I hope he re thinks that idea.
Good for him. As long as he chooses cash. I wonder if he played OR Lose for Life.
Quote: He said he won't do anything crazy with the money, though. and
We're talking to our financial planner Tuesday and we're probably going to invest all of it — or 99 percent of it,"
Yea that sounds real intelligent the stock market is doing so poorly that he just might end up owing money if it were to crash. It kills me when people make rash decisions.... a quater or possibly half of the winnings but not all. Big money makes some people brain dead I think. I hope he re thinks that idea.
Investing doesn't have to mean throwing it all into the stock market.
You can invest in houses, other countries....diversification.
How ironic! The big jackpots attract a lot of first time players and, sure enough, one of them hits it. It ain't fair, dammit!!!!
Congratulations Mr. West.
Businessman . . . . . . hmmm . . . . .sounds like this guy may have been doing okay already. I guess I'm always more partial to that maid or the school teacher. But anyway best wishes to them. Heck, think I'll start a business too RJ.
Businessman . . . . . . hmmm . . . . .sounds like this guy may have been doing okay already. I guess I'm always more partial to that maid or the school teacher. But anyway best wishes to them. Heck, think I'll start a business too RJ.
exactly!!!
like i said.
he doesn't need all of that money
Always the first time players, or the random ones- I bet he went into the store and asked the clerk "exactly how does one play this " ?
should we back off from playing so much ?
If it's your time, it's your time.........
DD
I hope the Oregon businessman doesn't flop and have problems like Jake Whittaker three years ago. They're so lucky that they didn't play until now! I agree that he should choose cash option because problems may occur if he took payments.
Well let's just hope he doesn't become another Jack. This guy had problems LOL
Congrats to the West family!
My, My. A first time player
. A funny thing happened to me when I was going to play the Powerball Drawing December 2002. I knew that the winner would be drawn that drawing, but my car broke down and I knew that this drawing would yield a winner(s) but I did not have time to take off from work to drive to Louisiana (the closest Powerball state to Alabama). No need, I did not win. I just hope that the West Family will be wise and not think that the money can buy them happiness. If they have children, they need to know the value of work! The extra money is just insurance. Insurance that I would like to have. Well, I guess I will just have to travel to Georgia for the Mega Millions...that jackpot is growing. Two strikes on the Powerball. And not one of those Lotto Prediction Tools selected the Powerball winning numbers! Hmmmm....! It is just random luck-no strategy.
It wierd, it always seems like the biggest jackpots are won by people with the most money. I mean we see stories on both sides but if this guy is investing 99%, he is well to do already which to my guess is not 99% of the population in here. Congrat's Mr. West.
Sounds like an intelligent person, a very lucky intelligent person. If he doesn't fall prey to vampires and slugs, he and his family should be able to spread the wealth over many generations. Which should be the goal of every one. Make your grandchildren, your great grandchildren, and their grandchildren secure. Knowing you have set up gernerations of education and comfort is something worthwhile. Doing that would make me happier then spending a fortune on car that will wear out in a few years.
I can agree with that Chewie....
Most people mess up trying to make money when they already have 340 million ----really
One things is for sure with this lotto winner weekend, the rich got richer....
http://www.cnn.com/2005/POLITICS/10/20/judd.lottery/index.html
One things is for sure with this lotto winner weekend, the rich got richer....
http://www.cnn.com/2005/POLITICS/10/20/judd.lottery/index.html
That was already posted in the News forum.
Sounds like an intelligent person, a very lucky intelligent person. If he doesn't fall prey to vampires and slugs, he and his family should be able to spread the wealth over many generations. Which should be the goal of every one. Make your grandchildren, your great grandchildren, and their grandchildren secure. Knowing you have set up gernerations of education and comfort is something worthwhile. Doing that would make me happier then spending a fortune on car that will wear out in a few years.
You are so right, he's thinking about the future but he needs to ensure that the future your mentioning is secured cause it would be disappointing after running into all that money to loose it in a stock market that has no guarentees(if that is his intention) as it has it's up's and down's. Family is so important when you are in that type of position, you are able to ensure a standing ground as you have said, Great investments are good businessess that can run through genterations, fixed accounts that earn interest through the years, Educational funds and most of all Apartments and Condo's you can rent that guarentees a lasting turnover income as long as it is properly maintained.
I also think they should add a little fun in it cause you have one life to live and you just never know when your gone, so buy a reasonable sports car and take that vacation you deserve some perks out of you and your family's win Mr. West, CONGRATULATIONS!!!
Lets hope it brings him and his family happiness.
Businessman . . . . . . hmmm . . . . .sounds like this guy may have been doing okay already. I guess I'm always more partial to that maid or the school teacher. But anyway best wishes to them. Heck, think I'll start a business too RJ.
Hey my comment didn't print... anyhow i was quoting Lottophene's line. I wanted to add that I have been a maid, I have been a school teacher. I am now a owner of a convience store.... And I still can't win!
Well in an article I read (if it's legitimate) it said they lived in a "modest gray shingled ranch house, lavishly decorated for Halloween with a graveyard, an inflated purple spider and a ghost". I've never heard of grey shingles on homes here in KY. Maybe they're popular in OR, I don't know LOL.
Here's the article I got it from: http://www.newsday.com/news/local/wire/connecticut/ny-bc-ct--lotteryjackpot1021oct21,0,6085840.story?coll=ny-region-apconnecticut
How ironic! The big jackpots attract a lot of first time players and, sure enough, one of them hits it. It ain't fair, dammit!!!!
Congratulations Mr. West.
Sounds like the fix is in with these big lottories with people who are first time players and owning there own businesses. my mother maybe right. she thinks the Powerball and Mega millions are fixed. she thinks the numbers are already picked before the drawing.
How ironic! The big jackpots attract a lot of first time players and, sure enough, one of them hits it. It ain't fair, dammit!!!!
Congratulations Mr. West.
Sounds like the fix is in with these big lottories with people who are first time players and owning there own businesses. my mother maybe right. she thinks the Powerball and Mega millions are fixed. she thinks the numbers are already picked before the drawing.
Hey if they are "fixed" and "picked ahead of time" then study remote viewing and remote view what they are!!!!
How ironic! The big jackpots attract a lot of first time players and, sure enough, one of them hits it. It ain't fair, dammit!!!!
Congratulations Mr. West.
Sounds like the fix is in with these big lottories with people who are first time players and owning there own businesses. my mother maybe right. she thinks the Powerball and Mega millions are fixed. she thinks the numbers are already picked before the drawing.
Hey if they are "fixed" and "picked ahead of time" then study remote viewing and remote view what they are!!!!
lol Konane!
It doesn't bother me if a "first-time" player wins. I'll reserve my judgment until we find out if he takes the cash.
hey, he should set up a grant thing like whittaker did to give help to those of us, who are'nt so lucky.i don't need but a little bit,like a donation of some sort..spread some wealth...i know what you all are thinking, would i do it if i had won!!! let you know in a few day's....
I don't think a winner needs to set up a "donation" to help the beggers.
hey, he should set up a grant thing like whittaker did to give help to those of us, who are'nt so lucky.i don't need but a little bit,like a donation of some sort..spread some wealth...i know what you all are thinking, would i do it if i had won!!! let you know in a few day's....
Call Ted Kennedy's compound. He belives in spreading the wealth, well, ah, your wealth anyway. His wealth? He uses it for swimming lessons.
How ironic! The big jackpots attract a lot of first time players and, sure enough, one of them hits it. It ain't fair, dammit!!!!
Congratulations Mr. West.
Sounds like the fix is in with these big lottories with people who are first time players and owning there own businesses. my mother maybe right. she thinks the Powerball and Mega millions are fixed. she thinks the numbers are already picked before the drawing.
it's ok when people when. it's just when people who are already well to do win -- like the brad guy who wanted to turn his winnings into a billion in 10 years, or the tennessee family that just happened to buy the ticket from their own store (allegedly), or whittaker, or the congressman -- that it doesn't seem so cool anymore.
it's one thing when the winners are little old ladies with 10 years to live, at that. at least those were usually quiet people living quiet, non lavish lives. but those already affluent?
that's not even getting into the lack of minorities as winners -- let along big winners. i guess someone tried in new mexico, but lucked out with some white guy serving at kirtland instead of a latino or native american ;)
so it comes back to the 'seed number' concept for me, and who chooses who gets what seed numbers, just how random all of it really is.
I don't think a winner needs to set up a "donation" to help the beggers.
i don't, either. it's your money, at that point. you found it. you won it. no one should be trying to guilt trip you into parting with it. you can do whatever you want with it. just make sure that what you do with it sends good karma back to you, wisely.
It mind boggles me that you guys would think it was fixed. If it was fixed they wouldn't let anyone win and the jackpot would just get higher and higher so they could sell more tickets. If the jackpot is being won then how can they be fixing it?????? It is not like the lottery says....ok there is a white man coming in and he is buy a tickets....lets give him the winner. That is just ludicrous. Everyone has the chance of winning by how many tickets they have. Rich people buy tickets to play also. They probably play more than normal people because they can afford too...hence that means more rich people will win. People that are not rich have won before. Just look at the stories. If the lotteries are letting people won.....how could they be fixing it?
Brad
I agree Bradly--The randomness of a lottery winner is exactly that.
The winning set of numbers don't care who is holding them, it is what it is.
DD
I think paranoia runs rampant among some lotto players. The balls or computer doesn't care who you are, what color you are, how much money you make, or if you are a democrat or a republican. It doesn't posses feelings or emotions. It just a game.
Maybe there should be a disclaimer when you buy a lottery ticket "caution your life will change if you win buy at your own risk" I'm there are plenty of people who wouldn't this problem!
please insert "mind" and "sure" in the right places hehe! in last post
ok777:
Have you tried to use the emoticons (eg
)? I have at times.
What will they get lump sum after taxes? $200,000,000 perhaps? divided by 4? $50,000,000 each chump change :)
What will they get lump sum after taxes? $200,000,000 perhaps? divided by 4? $50,000,000 each chump change :)
"after taxes" is an open ended term. Assuming you have a social security card, that initial hit of 25% is only for marking. The real rounds come in once the target is established.
What will they get lump sum after taxes? $200,000,000 perhaps? divided by 4? $50,000,000 each chump change :)
"after taxes" is an open ended term. Assuming you have a social security card, that initial hit of 25% is only for marking. The real rounds come in once the target is established.
The 25% figure is not a marketing term, it is a rule set by the Federal Government. Most people will owe additional money in taxes, although it depends on how you disperse your prize. For example, if you give large amounts to some kind of tax-deductable organization, then you may not owe anything more, or you may get something back.
Also, those who choose the cash option pay more in taxes, because there is much more money that falls within the highest tax bracket. Those who choose annuity get taxed at the lower tax brackets for a percentage of their payout every year, so they end up paying less in taxes over the long haul.
Todd:
Taxes might increase over the annuity period. Remember when the federal tax liability was much higher?
Taxes have decreased, thanks to Republicans, so anyone who chose Annuity in prior years if getting the benefit of their choice through lower taxes.
Saying that "taxes might increase" is not a very convincing statement.
I do remember when the tax withholding rate was higher.
todd:
Many who are receiving annuity payments had no choice. Many such winners would choose cash if they won again.
I don't think that has been the case for many years. Either way, it's really getting off-topic.
What will they get lump sum after taxes? $200,000,000 perhaps? divided by 4? $50,000,000 each chump change :)
"after taxes" is an open ended term. Assuming you have a social security card, that initial hit of 25% is only for marking. The real rounds come in once the target is established.
The 25% figure is not a marketing term, it is a rule set by the Federal Government. Most people will owe additional money in taxes, although it depends on how you disperse your prize. For example, if you give large amounts to some kind of tax-deductable organization, then you may not owe anything more, or you may get something back.
Also, those who choose the cash option pay more in taxes, because there is much more money that falls within the highest tax bracket. Those who choose annuity get taxed at the lower tax brackets for a percentage of their payout every year, so they end up paying less in taxes over the long haul.
Todd, I did not mis-spell the word marketing, the word, "marking" is an artillery term used to "mark your target" prior to sending volley after volley into the enemy’s position. The 25% is a starting position. The IRS will then go after all they can. Thus the reference.
Have they come forward to claim it yet?
Unlike Chucky Shumer, maybe they have learned that not every person with a TV Camera or a "pencil" is in love with them!
What will they get lump sum after taxes? $200,000,000 perhaps? divided by 4? $50,000,000 each chump change :)
"after taxes" is an open ended term. Assuming you have a social security card, that initial hit of 25% is only for marking. The real rounds come in once the target is established.
The 25% figure is not a marketing term, it is a rule set by the Federal Government. Most people will owe additional money in taxes, although it depends on how you disperse your prize. For example, if you give large amounts to some kind of tax-deductable organization, then you may not owe anything more, or you may get something back.
Also, those who choose the cash option pay more in taxes, because there is much more money that falls within the highest tax bracket. Those who choose annuity get taxed at the lower tax brackets for a percentage of their payout every year, so they end up paying less in taxes over the long haul.
Todd, I did not mis-spell the word marketing, the word, "marking" is an artillery term used to "mark your target" prior to sending volley after volley into the enemy’s position. The 25% is a starting position. The IRS will then go after all they can. Thus the reference.
Chewie:
Somebody who chooses annuity might end up paying more in taxes than if they took the lump sum, especially if they live in a state like NJ that doesn't CURRENTLY tax lottery winnings.