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Posted: 3/7/2023 8:31:09 PM EDT
[#1]
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Posted: 3/7/2023 8:31:15 PM EDT
[#2]
Quote HistoryQuoted: On his way to be broke in 5 years or less Drive it like you stole it! 
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Posted: 3/7/2023 8:34:50 PM EDT
[#3]
I'm sure that's a very nice place to live as long as you don't have to interact with your neighbors.
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Posted: 3/7/2023 8:38:30 PM EDT
[#4]
When I was daydreaming about winning that much money not once did I think about buying a mansion in California.
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Posted: 3/7/2023 8:43:24 PM EDT
[#5]
2.04 Billion and he gets $995 million? Land of the free my fucking ass. That’s criminal
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Posted: 3/7/2023 8:48:25 PM EDT
[#6]
Hell if I had that kind of cheddar I’d probably have a place in SoCal as well.
Fuck the haters it’s a fun place. I’d imagine it’s even better with damn near a billion dollars in your pocket. |
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Posted: 3/7/2023 8:50:08 PM EDT
[#7]
Quote HistoryQuoted: You'd burn out in a year. Or someone would kill you for being a dick. No offense intended. None taken  I’m only kidding about the coke/viagra mix I wouldn’t give any extended family the time of day , fuck them , they would never find me . But I do stand by the thought that there is no way any burden would outweigh the fun I would have , none. I’d be too busy seeing all the things I ever wanted to , fishing all the places I dream of . Maybe a little coke/viagra for the whores.....just a little , and I’d have a doc on standby in the next room
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Posted: 3/7/2023 8:54:03 PM EDT
[#8]
Quote HistoryQuoted: Should be video of the buying and theft of the lottery ticket as the article reads they are communicating with the place the ticket was bought from. Also, $1b is pre tax. He’ll have to pay another $500m in tax. 75% in taxes? 
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Posted: 3/7/2023 8:54:28 PM EDT
[#9]
2.5% on a house? I think he'll be ok.
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Posted: 3/7/2023 8:54:48 PM EDT
[#10]
Quote HistoryQuoted: 75% in taxes? He took the lump sum and with that carries a penalty |
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Posted: 3/7/2023 8:54:56 PM EDT
[#11]
Quote HistoryQuoted: This. Quote HistoryQuoted: Quoted: Broke inside several years. This. I mean, it's possible... but I think you guys are over reacting to this purchase.... 25 million, of just shy of 1 BILLION... The house is about 2.5% of his total winnings. For perspective for us commoners.. if you had $1,000 cash in your pocket.. this would be like if you spent $25 on something. |
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Posted: 3/7/2023 8:57:04 PM EDT
[#12]
Quote HistoryQuoted: He took the lump sum and with that carries a penalty Quote HistoryQuoted: Quoted: 75% in taxes? He took the lump sum and with that carries a penalty That is outrageous |
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Posted: 3/7/2023 9:04:11 PM EDT
[#13]
Quote HistoryQuoted: He took the lump sum and with that carries a penalty Not really a penalty, just the required amount needed to guarantee the 30 year annuity for the full jackpot amount. Taking the lump sum is technically the smart investment if done correctly. The annuity is "earning" a bit under 3% so taking half means you need to get in the 5-6% range... S&P500 has a return of ~10% for the last 30years. |
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Posted: 3/7/2023 9:05:55 PM EDT
[#14]
Image having that much money and choosing to live in LA County
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Posted: 3/7/2023 9:09:43 PM EDT
[#15]
^^^ He be need'n some Re Spect.
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Posted: 3/7/2023 9:15:14 PM EDT
[#16]
Quote HistoryAfter seeing the pics, I think he bought that as a poon pad, he made a wise investment. Hopefully no one drugs and kidnaps him. |
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Posted: 3/7/2023 9:18:21 PM EDT
[#17]
The tax rate on his invested money in CA is over 10%. I’d move my butt to a no state tax state like TN or FL.
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Posted: 3/7/2023 9:21:10 PM EDT
[#18]
Quote HistoryQuoted: Could live anywhere... and he goes to California. He deserves whatever he gets.  Attached File |
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Posted: 3/7/2023 9:26:21 PM EDT
[#19]
Quote HistoryQuoted: If you walk away with 700 million or so you'd figure that you would have the necessary money to hire a team of professionals to hide everything you do behind a series of trusts and legal entities that aren't obviously you. Trusts can own real estate. I'd look into buying land through a trust in a State that did not require you to put trusts on file with the State. Pay lawyer to pay the taxes. |
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Posted: 3/7/2023 9:26:43 PM EDT
[#20]
Quote HistoryQuoted: I mean, it's possible... but I think you guys are over reacting to this purchase.... 25 million, of just shy of 1 BILLION... The house is about 2.5% of his total winnings. For perspective for us commoners.. if you had $1,000 cash in your pocket.. this would be like if you spent $25 on something. |
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Posted: 3/7/2023 9:27:54 PM EDT
[#21]
Quote HistoryQuoted: I mean, it's possible... but I think you guys are over reacting to this purchase.... 25 million, of just shy of 1 BILLION... The house is about 2.5% of his total winnings. For perspective for us commoners.. if you had $1,000 cash in your pocket.. this would be like if you spent $25 on something. 2.5% on one purchase. And its a purchase that will bleed money in taxes and upkeep. My lottery house would not be much different from my current one. At least... on the surface. 
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Posted: 3/7/2023 9:28:48 PM EDT
[#22]
Quote HistoryQuoted: I don't think it's the house, I think it's the location and what seems to be a lack of planning. He bought a mansion in one of the worst parts of the country, immediately after getting almost a billion dollars, and the media is telegraphing that to the entirety of L.A. It would not at all surprise me if he has yet to spring for private security, and as a result, it would not all surprise me if you hear about his kidnapping soon. That too. For someone who claimed to "value his privacy" he sure made a dumb shit move buying that particular house. |
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Posted: 3/7/2023 9:30:23 PM EDT
[#23]
Lol, this guy will burn through it quick. Probably dead in 5 years of an OD or a crash in an expensive supercar.
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Posted: 3/7/2023 9:30:46 PM EDT
[#24]
Quote HistoryQuoted: 2.5% on one purchase. And its a purchase that will bleed money in taxes and upkeep. My lottery house would not be much different from my current one. At least... on the surface. |
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Posted: 3/7/2023 9:43:59 PM EDT
[#25]
My $25.5 million dollar mansion would damn sure have a powder room too.
"Hello, Hodgdon? Yeah, send me everything off your line for the next month. While you're at it might as well tell CCI and Hornady they're next, and I'm going in dry!"  |
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Posted: 3/7/2023 9:44:35 PM EDT
[#26]
$25M on that in the PRC when he could have spent $25M on this?
Idiot.  Inside a $25,900,000 Fully OFF GRID Utah Mega Mansion |
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Posted: 3/7/2023 9:46:16 PM EDT
[#27]
Quote HistoryQuoted: Could live anywhere... and he goes to California. He deserves whatever he gets. Yeah I don't get it either. 
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Posted: 3/7/2023 9:51:45 PM EDT
[#28]
$997.6 million? No 3 commas for you.
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Posted: 3/7/2023 9:52:38 PM EDT
[#29]
Why is he advertising where he lives.
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Posted: 3/7/2023 9:55:59 PM EDT
[#30]
Quote HistoryQuoted: Why is he advertising where he lives. Why do people take pictures of their lunch and announce when they will be on vacation? |
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Posted: 3/7/2023 9:56:47 PM EDT
[#31]
Quote HistoryQuoted: Can't blame him. Hopefully he's not dead next to a big pile of cocaine next month. Well...just depends...is he a d or an r? |
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Posted: 3/7/2023 9:57:43 PM EDT
[#32]
Quote HistoryQuoted: I would guess he'll be paying $375k-$400k a year in property taxes annually for this home. Not quite. More like $250K a year. Believe it or not. Cali property taxes are less than many states. |
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Posted: 3/7/2023 9:57:47 PM EDT
[#33]
Quote HistoryQuoted: Good for him but I'd be leaving California. Montana, Texas, and Florida is where I'd be buying property I wonder what the property taxes on a 25mil house is in California? About 1% of purchase price. |
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Posted: 3/7/2023 9:58:13 PM EDT
[#34]
Quote HistoryQuoted: Over a billion in taxes? Fuck. ETA Or was it the lump sum payout, after taxes? There was an additional 37% taken in taxes on the lump sum. |
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Posted: 3/7/2023 9:59:30 PM EDT
[#35]
Quote HistoryQuoted: I can't imagine winning that kind of money.. Win a million, not too big of deal. Keep it low key and go on living. A billion would be a fucking burden. Fuckers at every turn begging for money, lawyers, relatives you didn't know you had crawling out from under rocks, security, etc,etc,etc. Just need 3/4 mil. If I'm greedy, a even mil after taxes. |
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Posted: 3/7/2023 9:59:46 PM EDT
[#36]
Quote HistoryQuoted: I believe that was the lump sum payout after the 24% withholding. That amount is likely still subject to the overall 37% fed rate(minus the 24% withholding) and State income taxes. Quote HistoryQuoted: Quoted: Over a billion in taxes? Fuck. ETA Or was it the lump sum payout, after taxes? I believe that was the lump sum payout after the 24% withholding. That amount is likely still subject to the overall 37% fed rate(minus the 24% withholding) and State income taxes. California does not take income taxes out of lottery winnings. |
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Posted: 3/7/2023 10:01:27 PM EDT
[#37]
Quote HistoryQuoted: $25M on that in the PRC when he could have spent $25M on this? Idiot.  https://www.youtube.com/watch?v=Mw_AJOYzt0wEven with a billion dollars I'd be fine with a whole lot less. Ok, maybe more garage.
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Posted: 3/7/2023 10:01:56 PM EDT
[#38]
Quote HistoryQuoted: I’d buy in a few states. Not sure if Ca would be one of them but when you got big bucks LA can be almost as fun as it can be dangerous . Meh. A billionaire will blend in pretty well in that area. Much safer than a billionaire in Podunct with Billy-bob and his crew staring over the fence. |
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Posted: 3/7/2023 10:01:59 PM EDT
[#39]
Quote HistoryQuoted: Math is hard. He won $2.04 billion pre tax . $997 million post tax I think it was $997 lump sum - not including tax. |
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Posted: 3/7/2023 10:03:46 PM EDT
[#40]
Quote HistoryQuoted: I had ranches picked out in MT, WY, ID and TX totaling $50 million. It's stupid to stay in cash unless you can get some of that sweet 5%+ on t-bills, cd's and money markets. What would you do with 4 ranches? Lease some of them out? |
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Posted: 3/7/2023 10:04:48 PM EDT
[#41]
Quote HistoryQuoted: First thing I would do if I had a billion dollars is change my name. It's insane that California throws you to the wolves like that. As others have said, it HAS to be a burden having that much cash in the bank... for certain things. His $25M property in The Hills isn't as stupid as it seems. Not as though his neighbours are poors that are are going to be jealous. Every one of those homes will have a security team Can't you have a trust collect the $$? |
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Posted: 3/7/2023 10:06:23 PM EDT
[#42]
Quote HistoryQuoted: Can't you have a trust collect the $$? Some states don't allow for that. I thought California wasn't one of them, or at least that's what I remember hearing in one of these lottery threads. |
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Posted: 3/7/2023 10:08:09 PM EDT
[#43]
Quote HistoryQuoted: Hell, pick a spot with cheaper land, and you could build a megamansion with 25 million dollars. And in a few years it will be worth a fraction of that and unsellable. In the Hollywood Hills, he can always get most, if not all, of his $25M back if he tires of California. |
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Posted: 3/7/2023 10:08:28 PM EDT
[#44]
Quote HistoryQuoted: Could live anywhere... and he goes to California. He deserves whatever he gets.  Attached File |
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Posted: 3/7/2023 10:08:32 PM EDT
[#45]
Quote HistoryQuoted: The weather there is easily worth it alone. Your state is only nice in the winter months and then becomes sauna oven soaked shirt with lizards crawling around everywhere. Go to it! Lots of people live there for the weather and the palm trees.  Only thing I miss are the fig trees and Santa Monica Bay polluted with raw sewage. |
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Posted: 3/7/2023 10:09:20 PM EDT
[#46]
Quote HistoryQuoted: Could live anywhere... and he goes to California. He deserves whatever he gets.  Attached File |
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Posted: 3/7/2023 10:11:01 PM EDT
[#47]
Quote HistoryQuoted: That guy is gonna run out of money fast or be dead in the near future Does that prediction make you feel better? |
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Posted: 3/7/2023 10:11:41 PM EDT
[#48]
Quote HistoryQuoted: Why is he advertising where he lives. Babes. |
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Posted: 3/7/2023 10:11:54 PM EDT
[#49]
Quote HistoryQuoted: I see John Paul DeJjoria (Paul Mitchell Hair Products founder) in my grocery store. He lives a pretty normal life on ranch. Being a billionaire is not difficult if you have a little common sense. Maybe this guy doesn’t want to live on a ranch. |
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Posted: 3/7/2023 10:12:54 PM EDT
[#50]
I would have put that 1 billion in US treasuries get 5% . With $50m/ yr interest you can rent the most expensive places you want and still have millions leftover every year
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