Lottery winner who bagged $27MILLION ended up living in shed covered in poo 5 years later
Posted April 14, 2023 by: Admin
David Lee Edwards, a man from Ashland, Kentucky, won a quarter-share of the Powerball $280 million jackpot in August 2001. It was one of the biggest lottery wins in history, but unfortunately, Mr Edwards ended up losing all of his winnings in just five years. During that time, he made several extravagant purchases, including a mansion in a gated community, a private jet, and more than a dozen expensive cars.
After winning the jackpot, Mr Edwards married his girlfriend Shawna Maddux in Malibu, California, and they set out to enjoy their new wealth. However, the combination of over-spending and drug addiction soon took their toll. By 2006, Mr Edwards and Ms Maddux were reportedly penniless and living in a storage shed covered in human feces.
Ms Maddux eventually left Mr Edwards and re-married. She and her new husband eventually took Mr Edwards in before finding a space for him in a hospice. Unfortunately, the hard living had taken its toll, and in 2013, Mr Edwards passed away at the age of 58.
Throughout his life, Mr Edwards had gone through all his winnings and even owed others thousands. According to estimates, he had spent $3 million of his $27 million just three months after getting the winning ticket and a further $12 million in the first year.
Despite Mr Edwards’ initial desire to use the money wisely and with humility, his extravagant purchases and drug addiction led him down a different path. He also had multiple run-ins with the law over possession of illegal drugs, including crack cocaine, and even contracted hepatitis from the use of intravenous needles.
It’s important to note that winning the lottery can be a life-changing event, but it’s crucial to manage the newfound wealth wisely. Seeking advice from financial experts and creating a long-term plan for the money can help prevent situations like Mr Edwards’. While it’s easy to get caught up in the excitement of newfound wealth, it’s essential to remember that financial security is a long-term goal that requires careful planning and decision-making.
