Money

Good News for 1%: Money Managers Win $254 Powerball Jackpot

| by Mark Berman Opposing Views

Depressing news out of Connecticut, where three already-wealthy money managers are winners of the largest lottery jackpot in state history.

Tim Davidson, Gregg Skidmore and Brandon Lacoff won the $254 million Powerball jackpot on a single $1 ticket. The trio work for a boutique money management firm in Greenwich, one of the richest towns in the entire nation.

Popular Video

Congress just passed a drug testing law that has a lot of people outraged. Do you think this is wrong?

They chose a lump sum payment -- $104 million after taxes. The men said a "sizeable" portion of the money will go to charity.

"Obviously, everybody is extremely excited. These numbers are huge. This is going to benefit many people," said their attorney Jason Kurland, who did almost all of the talking at a news conference on Monday.

Popular Video

Congress just passed a drug testing law that has a lot of people outraged. Do you think this is wrong?

Skidmore briefly stepped to the microphone only to say "It feels good."