We’ve all heard stories about how lottery winners become one day millionaires and in the end become worse off than they actually started. Yet many of those stories are nothing but urban legends. Here’s one man’s real story, David Lee Edwards, an ex-con who won in the 2001 Powerball.
According to a feature done on him this weekend, He moved to Palm Beach County with $27 million, his take after taxes from the winnings. He was 46 and had recently been laid off.
Flush with cash, Edwards bought the $1.2 million home in the BallenIsles community, a $240,000 Bentley and a $250,000 Lamborghini. Several months later, he married his fiance in Hawaii and bought her a $250,000 electric-blue Ferrari.
Yet years later, he runs into trouble with heroin and cocaine again. The poor guy’s millions didn’t do much to change his life for the better, I guess. Today, he is awaiting court hearing. This weekend, hundreds of people went to the auction where Edwards’ furniture was being sold. This furniture used to be fixtures at his $1.2 million home in Palm Beach, which itself was already auctioned off already for $400,000.
This is as sad as stories go, I believe. Here was one man given the chance of a lifetime to get out of whatever rut he was in, the chance to revolutionize his life and that of others and what did he do with it? Here is to hoping that those of you who run into the same luck into the future make something better out of it!