Rich and Bankrupt

Rich and Bankrupt

The amount of time I open a newspaper or read on the internet about the newest person to win the Lottery I feel sickened by the thought that in just a few years those people might waste it away without a care in the world. Now obviously not everyone would waste it but there are a few that have been given the chance of a life time and blown it (sometimes it is because of lottery winnings or famous musicians and actors who have lost their stardom). 

So I decided today to look at all the different people who have gone from earning a fortune to bankruptcy:

Celebrities who have gone bankrupt:

Kerry Katona

Shane Filan

Peter Stringfellow 

Duncan James

Martine Mcutcheon

Lindsay Lohan

Joe Swash

Christopher Biggins

George Best

Neil Morrisey

Marvin Gaye

to name just a few…..!

So who has won millions of pounds by chance and squandered it to the point where they are just as poor as they began with:

Jack Whittaker won a record $314.9m Powerball jackpot in 2002.

Since then he has had a long list of arrests, lawsuits, broken relationships and even death. In 2007, his then wife, Jewell admitted she wished she had ‘torn up the ticket’.

William “Bud” Post won $16.2 million in the Pennsylvania lottery in 1988.

He later described the experience as a ‘nightmare’ and wishes it had never happened – who can blame him after he was sued by a former girlfriend eager to get her hands on the cash and his brother hired a hitman in the hope of inheriting the winnings. He invested in ill-fated family businesses and within a year was $1m in debt. Today he gets by on social security payments. 

Janite Lee won $18 million in 1993.

Her generosity in giving money to a variety of political, educational and community causes was commendable – but just eight years later she filed for bankruptcy. 

Willie Hurt won $3.1 million in 1989. 

Two years later the money was gone and he was on a murder charge. Hurt spent his fortune on a divorce and crack cocaine. 

Charles Riddle won $1 million in 1975. 

The original lottery car crash, he quickly got divorced, faced several lawsuits and was eventually indicted for selling cocaine. 

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