How Many Asset Managers does it take to turn $1 into $260 Million?
THREE Asset managers from Connecticut, New York, have taken out the $260 MILLION Powerball from a $1 ticket.
The three men; Greg Skidmore, Brandon Lacoff and Tim Davidson came forward to claim the Powerball jackpot as trustees for the Putnam Avenue Family Trust, which was formed after they confirmed their $1 Powerball ticket had made them $260 million richer.
Davidson bought the $1 ticket on behalf of the trio and a petrol station in Stamford.
Opting for the one-off after-tax lump sum payment, the trio will walk away with $104,000,000 in cash, a significant portion of which will be donated to various charities.
The life changing Powerball draw took place on November 2nd, 2011 and the winning numbers were 12, 14, 34, 39 and 46.
The win will go down in history as the 12th biggest Powerball and the largest ever jackpot amount won in Connecticut.
The three men work at a small, start-up asset management firm called Belpointe LLC in Greenwich.
After their win they appeared with their lawyer at a news conference and didn't have much to say at all about their new millionaire status, except for Greg Skidmore who simply said:
"It feels good.”