The people who go broke are the lottery winners who win $2 million and spend like they won $3 million. That's easy to do.
This guy cleared nearly a full billion. Going broke will be possible but a very difficult task.
He's richer than Taylor Swift.
No, he didn't. He got a cash payout of one billion, but he also owes Federal income taxes on that one billion. Pretty much all of it at 37%, so he really cleared around 630 million. Still a lot, but a bit less impressive.
He’s bigger than US Steel.
If he parked his money and lived off the interest, he would have an amazing life.
The problem is that unless his money is generating money, it will eventually run out.
Singers, actors, performers get royalties for their work long after they retire.
Lottery winners are one and done. If you don’t manage it, it will evaporate out from under you.
At least he’s investing it in assets, instead of mayhem and foolishness.